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Thursday, December 1, 2022

Internal Revenue has turned over six years of Trump’s tax returns to a House committee. No one knows when any of the information on these returns will be public or even if they will be public. I think that eventually a lot of information from these returns will be known, but whether it is in my lifetime is another question..


In fact, there are many questions such as “Who's going to analyze these returns?” and “How long will it take?”. I am not an expert in this sort of thing, but I know that if I were representing Trump’s Wife, and, as part of the financial discovery, these returns were turned over to me, that I would need a large team of highly skilled forensic accountants and assume that I would need several months to get a handle on things.


I have no idea what preparations and arrangements have been made in anticipation of getting the returns. Maybe a whole lot and maybe nothing or next to nothing. What is certain is that each year of returns is probably thousands of pages and no one is going to know anything for a long time.


Just last week I received three years of tax returns in a case. It took me over two hours just to turn the pages to see what was there. Looking at just a few pages, I could see the amount of gross and net income earned, but the detail is in the schedules attached It would have taken me weeks to really read those schedules, JG I did not have to because the purpose of receiving those returns was to comply with the disclosure requirements in connection with a prenuptial agreement. I just needed to get a general idea about the party’s financial circumstances. I was not interested in whether there were any confidences of interests or with whom the taxpayer did business etc.


On the other hand, the House committee's task is entirely 100% different, and it will take months to unravel what Trump’s returns tell us about how he really operated This is a major audit. However, at least we know there can be no more delay tactics by Trump. The returns have finally been produced. Now on to the substantive work.

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The House approved a bill that would impose a compromise labor agreement on the railroad dispute that was brokered by the Biden administration but rejected by 4 of 12 unions. The House voted 299 to 137 with 79 Republicans joining 211 Democrats. Eight Democrats and 129 Republicans voted against the legislation. What were they thinking?


In a 221 to 207 vote, the House also approved a separate resolution to provide seven days of paid sick leave.


Josh Hawley will be his usual pain in the ass but there should be sufficient bi-partisan support in the Senate to avoid the strike. I think the majority of Americans and too many elected politicians do not understand just how catastrophic a railroad strike would be. We are not talking about just people who want to take the train from New York to Boston. Anyway it looks like this will get done and a strike avoided.

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I have decided I am rooting for Trump over DeSantis.

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I have decided I hope McCarthy goes down in flames and loses the Speakership.

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I am very pleased Hakeem Jeffries is the New Democratic leader in the House.

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I passed on purchasing the signed Trump 2024 MAGA HAT wondering how, with all his litigations and dining with antisemites, he had time to sign hats.


I also was slightly skeptical about being asked if I wanted to be on the top 1% donor list because I was just 1 donation away! That was my conclusion because I have never given anything.


I do think I should share the following just received:


THE MOST IMPORTANT THING YOU CAN DO TO SAVE AMERICA. Pres. Trump requested $20 from you. (Quite a bargain don’t you think?)

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Obama is heading to Georgia for Warnock. The Former President is probably the Democrat’s best weapon.

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I am really surprised Tunisia beat France in World Cup. Many knowledgeable Italians have picked France to win the whole shooting match.

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We have dental appointments mid morning and then I will be working all day until I drop trying to complete a prenuptial agreement for parties wanting to get married very soon.

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Listened a lot to Merle Haggard yesterday. The more I listen, the better he gets.

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A very good day in market yesterday.

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Go Ukraine

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