What We Can Learn From Donald Trump’s Unreleased Tax Returnsby Justin Wolfers
New York Times05/11/2016
One of the constants of modern elections is that presidential candidates have
released their recent tax returns. There is no law requiring this. This transparency is based on a norm. It’s a norm that has persisted through all modern elections, even among candidates who have suffered a degree of political embarrassment.
But Donald Trump has
told The Associated Press that he does not expect to release his tax returns before the election, citing a continuing audit. Despite
earlier assurances that he would release them, his
stated argument is that “there’s nothing to learn from them.”
There may indeed be nothing interesting to learn from Mr. Trump’s returns. But economic theory about the incentives for disclosure suggests that voters may reach the opposite conclusion. After all, choosing not to disclose something is an action that reveals something.
(Excerpt)
