It’s the court decision that probably strikes more fear in President Donald Trump’s heart than any other.
The Department of Justice said during oral arguments there should be a different standard for the President than for everyone else. So this will also be a key legal test of Trump’s attempt to wrap himself in a bubble of total immunity while in office.
Note: Trump is the only modern President to hide his tax returns. You can read Joe Biden’s here.
What should the court do?
CNN legal analyst Elie Honig says the legal issues are pretty clear:
Legally, this shouldn’t be particularly close or difficult. Exhibit A: In total, six different federal courts — three district courts and three courts of appeals panels — have heard these cases, and all six have ruled against Trump. It’s no fluke that Trump has a batting average of exactly.000 thus far in trying to block disclosure of his tax returns, and it would take a stunning reversal by the Supreme Court — essentially deciding that all six lower courts got it wrong — to save Trump’s cause now.
What could the court do?
Punt — Don’t be surprised if the Supreme Court kicks the issue back to lower courts, allowing another election to pass without voters knowing the financial interests of a candidate and now of the sitting President.
Draw — Or, as CNN’s legal team wrote after oral arguments, it’s possible Chief Justice John Roberts, who has already helped hand Trump two defeats in the past week, could seek some kind of middle ground, although that could make it difficult to actually enforce the subpoenas.
What do we know about Trump’s finances?
Trump argues that since he files financial disclosure forms each year (and has since 2015), that the public knows plenty about his business. But, as we’ve reported each year since 2015, the forms are horribly inadequate. You can read my 2019 story on this, but the short version is:
they are based on his own valuations, which are highly suspect;they aren’t subject to any kind of audit;they’re listed in extremely broad ranges.
Why can’t you take Trump’s word for his net worth?
The fact is that Trump lives in two worlds — man and business.
It’s a dual reality the President and his businesses have constructed that inflates his worth for the public, or his lenders, and then deflates it for the tax man, as the New York Times reported in 2019.
