The courts still have a lot (a LOT) to decide about the business and political decisions that were made by Ex. President Donald Trump. However, the courts have already determined that Trump’s business practices crossed the line, drifting from questionable creative accounting to outright fraud. Still. For the moment, let’s put aside the political implications of whether America will put a criminal back into the Whitehouse. Instead, let’s consider the financial implications of Trump’s business crimes, how often he is emulated, and how this impacts America’s business practices.

For the last 7 years, Donald Trump has not been closely aligned with objective reality. Rather, his definition of truth depends on what he wants and what is in his way. We’re all subject to a certain amount of flexibility in our moral compass. But Trump often displays the “flexibility” of a 3-year-old who is denied an ice cream cone. Sure, mom told you that you can have that ice cream after you clean up your room. But when you fail to tidy up, you only remember the promise of ice cream. Any argument that can bring you closer to your goal of creamy, delicious, ice cream is the only argument that counts.

Trump has been called a BabyMan, who wants his way and throws tantrums. Perhaps. But more importantly, is he the only billionaire BabyMan? Is he the only billionaire who will do anything, commit any crime, to get his way?

According to a joint study from MIT, UC Berkeley, and the University of Ontario about 10% of major corporations commit stock fraud every year. Real Estate fraud is rising (up 12% recently). Of course, this is just what is discovered and brought to trial.

Consider the tale of a particular BabyMan. This Billion-dollar New York Real estate agent was renowned for his BabyMan antics. He was particularly angry when his brother-in-law truthfully testified in court about illegal manipulation of property values and other crimes. This BabyMan threw a tantrum and hired a prostitute to entrap his brother-in-law, and sent the evidence to his brother-in-law’s wife (his sister). He wanted to force this disloyal family member into a divorce. He never cared how his sister and her children would suffer.

A few of you might think, “You’re talking about Donald Trump… right?” No. I’m not. I’m talking about Charles Kushner, the father of Jared Kushner, Donald Trump’s son-in-law. Before leaving office as President, Trump pardoned his in-law’s crimes. After all, BabyMen need to stick together!

Between the wall of lawyers the wealthy hire, and the political connections they buy, it’s very difficult to prosecute One-Percenters for their crimes. What’s even more difficult is to get them to pay their fair share of taxes every year.

Which brings us back to the IRS. They have been telling America for years that they need more resources in order to get the rich to pay what they owe. Naturally, the friends of the rich in Washington continually deny the IRS these resources, in order to protect their patrons. Ironically, the same senators and congressmen who prevent the IRS from collecting taxes scream the loudest about cutting services to the poor, because taxes don’t cover expenses.

What is the IRS proposal? It’s pretty simple really. Most of the “red flags” for income tax returns are focused on people who have little if any money to pay the IRS. The wealthy have lawyers, trust funds, offshore accounts, and tax loopholes to avoid paying their taxes (and these are just the legal options they have). The IRS proposal is to spend more time reviewing the tax returns that are likely to yield unpaid taxes.

For example, a 2021 White House study found that the average American pays around 13% of their income in taxes, but the 25 wealthiest Americans paid a mere 3.4%. Just 25 more audits could yield billions in unpaid taxes. If America’s wealthiest paid the average rate, tax revenues would rise by $52 billion. That’s just individuals. The Government Accountability Office (GAO) found that 20% of America’s largest corporations paid… nothing. Year after year of “nothing” can really add up!

A reporter once asked the famous Depression-era bank robber Willie Sutton, “Willie… why do you rob banks?” Willie’s answer was breathtakingly obvious. “Because that’s where they keep the money.” Perhaps America should take Willie’s advice, and have the IRS focus on the tax returns that will yield the greatest results.

What do you think? No one likes to be taxed, but if the only certainty in life is death and taxes. We might live to be 100, or we might get run over by an ice cream truck tomorrow morning. We may not be able to control when we die, but shouldn’t we be able to guarantee that every American pays their fair share of taxes?