Friday, July 10, 2020

4613Taxes in the Dark.

Reminder:  you have to return your returns by next Wednesday. No more virus based universal exceptions.  And just in the nick of time the Supreme Court handed trump a hollow victory.  They did this by voting on two cases.

In the first -- from the House of Representatives -- would have forced disclosure of his tax returns which he keeps under his bed in New York, evidently believing that using them as a home-based mushroom farm is better than showing them to congress.

The second case was where the hollow part comes in.  It ruled that the president is not above the law and has to send those returns to the District Attorney of New York County -- that’s Manhattan.

The DA will show them to a grand jury, and seems convinced he’ll get the indictment of the president.  But there’s a catch: grand jury testimony is secret.  So unless someone leaks the data, the mushroom farm moves down the street from Fifth Avenue to Hogan Plaza.  Hmmm. Unless someone leaks -- not entirely out of the question -- the rest of the peons like us won’t see them before election day.

Not that most of us need to at this point. Plus, there are a lot of other items in the Fifth Avenue Under-the-bed mushroom farm. Payoffs, the stiffing of contractors, and more.  Decades of growth to be harvested by the Manhattan DA.


(Ft Lee NJ) -- Former Fox news anchor Shepard Smith will join CNBC, NBC’s business news channel as anchor of a 7 PM (eastern) newscast in September.

(MOUNTAIN VIEW CA) -- Google is starting what it calls a “news initiative.” It doesn’t specify an exact answer to the question “What will it do?” But supposedly it is an effort to work with journalists from all over to tell the truth.  Somehow that has a hollow ring.

(SUNNYVALE CA) -- Verizon’s Yahoo News is a legit news operation with real reporters, not just aggregators. They do live on-line TV and cover plenty else on their own. 

(SEATTLE) -- Amazon has removed Washington Redskins merchandise from its enormous inventory.  So have Wal-mart and Target.

(NEW YORK) -- Brooks Brothers filed for bankruptcy protection and will close about ten percent of its stores worldwide. The company is 202 years old, has dressed 40 or so US Presidents and made its unique “sack suit” almost universally recognizable. Thus, men could make a fashion statement by buying something already out of date when it left the factory.  But everyone who saw it knew what it was and where it came from.

Today’s Quote:
“In a time of drastic change it is the learners who inherit the future. The learned usually find themselves equipped to live in a world that no longer exists.” -- Eric Hoffer, Bronx-born Longshoreman of Northern California, Presidential Medal of Freedom winner and best-selling author (1898-1983).

I’m Wes Richards. My opinions are my own but you’re welcome to them. ®
Any Questions?
© WJR 2020

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