There are only three things we need to know about this latest Trump tax “news.”

1. It tells us nothing about his Russian income, if any.

OK, let’s say his lawyers are telling the truth. Let’s say his last 10 tax returns show almost no income from Russia, apart from a few exceptions, and no direct loans or equity investments. But so what? You would not expect them to. If President Trump is getting money from Putin, you would not expect to see “Check from V. Putin: $200 million” under “Other Income” on Line 21 of his 1040 form. How naive can you get?