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Trump’s taxes likely to be a topic of tonight’s VP debate

October 4, 2016

Will taxes, specifically, Republican presidential candidate Donald J. Trump's still officially secret federal filings dominate tonight's vice presidential debate?

Kaine and Clinton_Clinton campaign website2 (2)

It's showdown time tonight for Sen. Tim Kaine, above right, the Democrats' vice president choice,
and Gov. Mike Pence, below right, who is the Republican veep candidate.

Pence and Trump_Mike Pence Twitter account banner

Maybe.

Debate directions for both VP candidates: You can be sure that Sen. Tim Kaine, Democratic presidential nominee Hillary Clinton's running mate, will try to make it an issue. Kaine and the former secretary of state have released years of their federal and state filings.

UPDATE, 9:37 p.m. ET: As expected, Kaine Hits Back at Pence on Trump Taxes.

Gov. Mike Pence, however, will likely try to downplay recent reports that the man who tapped him as the GOP veep candidate might not have paid Uncle Sam a cent of taxes for 18 years. Pence likely will point to his release of his taxes (like Kaine, 10 years' worth) and repeat Trump's "under audit" excuse explanation.

One commentator is even suggesting that Pence play that up and even challenge Trump to release at least some, audit-cleared 1040s. Like that's going to happen!

One thing is sure. An effective tax attack by Kaine or a solid defense/deflection by Pence could set the stage for how the next presidential debate — mark your calendars: it's Sunday, Oct. 9 — and possibly the final weeks of the run for the White House go.

Other non-tax things to watch for, and yes, they do exist, will be Kaine's ability to humanize Clinton and Pence's effort to make Trump seem a bit less outrageous.

Remembering prior VP debate moments: The debate is expected to get OK, but not record-breaking ratings. Still folks will likely watch on the off chance we'll get a gem like "You're no Jack Kennedy" or "Why am I here?"


This Wall Street Journal video offers some top moments in VP debate history.

During the 2012 election, the encounter between now Vice President Joe and then GOP VP nominee and current House Speaker Rep. Paul Ryan pulled in 51.4 million viewers. It was the third-highest total ever for a vice presidential debate, according to The Hollywood Reporter.

Second place goes to the first time a woman was on a major party ticket, the 1984 debate between Republican George H.W. Bush, who later would go on to occupy the Oval Office but then was Ronald Reagan's veep pick, and the late Geraldine Ferraro, who was tapped to round out the Democratic ticket led by Walter Mondale.

The VP debate ratings winner is the 2008 match-up between former Alaska Gov. Sarah Palin, Sen. John McCain's choice on the GOP side, and Biden. The verbal sparring of those two caught the attention of a record 70 million viewers.

How to watch tonight's VP debate: CBS News reporter Elaine Quijano will moderate the debate, which will begin at 9 p.m. ET and run, commercial free, for 90 minutes on not only CBS, but also on fellow broadcast channels ABC, NBC and Fox.

On the cable dial, you can find it on C-SPAN, CNN, Fox News, Fox Business Network, MSNBC and Spanish-language networks Telemundo and Univision.

If you're away from a TV set, you can stream the debate on Twitter. Trump says he'll be there offering live 140-character commentary.

YouTube will carry live streams of many of the television broadcasts.

ABC News has partnered with Facebook to stream tonight's debate on that social media platform.

You also might find these items of interest:

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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