TRUMP PAID $750 IN FEDERAL TAXES IN 2016.

[RandySF]

Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.


The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.

The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.




https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Top%20Stories&pgtype=Homepage

[The Magistrate]

1. That Is A Very Useful Fact, Sir

[Hstch05]

2. I just got the email

alert from the Times. Reading the article now.

[HipChick]

3. Is this going to his 47%?...

October surprise..It cost Romney...

[trueblue2007]

13. OCTOBER SURPRISE ??? MY HUSBAND -- who is a DISABLED MARINE VETERAN

The truth is that MY HUSBAND --- who is a DISABLED MARINE VETERAN has paid more tax money than DON, The Con, TRUMP !!!

[BComplex]

4. This needs more advertising so more people can see it. Kickin' & recc'n

[NightWatcher]

5. Russia might have got him for real cheap. 2.3 million for the Ms Universe pageant.

I bet he'd be that low rent and cheap that he sold us out for a few bucks.

[Tanuki]

6. Just in time for the debates! I love it!

[MustLoveBeagles]

8. Thanks for posting this RandySF

Let's get this to the greatest page. This needs to be seen by everyone on DU. I'm also bookmarking this. Kicked and Recommended.

[Laelth]

9. k&r for visibility. n/t

-Laelth

[denbot]

10. Every trucker knows we got screwed by the tax "break", but most pretend otherwise.

The travel per diem was our largest personal deduction, and without it my tax liability went up over $1,800 on 4/15. Even this revelation will dismissed by his cult members as fake news.

[ProfessorGAC]

11. One Nit To Pick

I am not convinced those losses were strictly paper losses to avoid paying taxes.
I think most of them are real and he's merely treading financial water, if he's not sinking.
The conflicts of interest are drawing cash to cover debt service to keep things from getting worse.
Here in Illinois, we've got an example of a real billionaire who can't be corrupted by money, in the governor's mansion.
He actually completely removed himself from the operation of his company,leaving his brother to run everything.
That's the opposite of PINO.
This seems a sign of someone who is desperate for money, and the exact opposite of a current example in politics.

[BlueWavePsych]

12. YES! The fun begins.

[MustLoveBeagles]

14. For comparison's sake:

Today, the President released his 2009 federal income and gift tax returns. He and the First Lady filed their income tax return jointly and reported an adjusted gross income of $ 5,505,409. The vast majority of the family’s 2009 income is the proceeds from the sale of the President’s books. The Obamas paid $1,792,414 in federal income tax. The President and First Lady also reported donating $329,100 to 40 different charities. The largest reported gifts to charity were $50,000 contributions to CARE and the United Negro College Fund. In addition, the President donated his $1.4 million Nobel Prize funds to 10 charities. The President and First Lady also released their Illinois income tax return and reported paying $163,303 in state income taxes.

and

The Vice President and Dr. Jill Biden also released their 2009 federal income tax returns, as well as state income tax returns for both Delaware and Virginia. They filed joint federal and Delaware income tax returns. Dr. Biden filed a separate non-resident tax return for the state of Virginia. Together, they reported an adjusted gross income of $333,182. The Bidens paid $71,147 in federal income taxes for 2009. They paid $12,420 in Delaware income taxes and $1,477 in Virginia income taxes. The Bidens contributed $4,820 to charity, in both monetary and in-kind donations.

More at the link:

https://obamawhitehouse.archives.gov/blog/2010/04/15/president-obama-and-vice-president-biden-s-tax-returns#:~:text=Today%2C%20the%20President%20released%20his,adjusted%20gross%20income%20of%20%24%205%2C505%2C409.&text=The%20Obamas%20paid%20%241%2C792%2C414%20in%20federal%20income%20tax.

[spanone]

16. I just paid 5 figures....you mother

Last edited Sun Sep 27, 2020, 06:48 PM - Edit history (1)

fucker

[LuckyCharms]

18. Great minds! Didn't see your post before mine.

[LuckyCharms]

17. Hmmm...why did I pay so much then?

That fucker.

[spanone]

21. It makes me sick. He lives like a freaking king and contributes nothing.

wonder how the deplorables will feel about donnie cheating on his taxes?

[triron]

19. So will the Times give this information to the NY AG and Cy Vance?

Or to congress? Bet there is tax fraud.

[triron]

20. knr

[Blue Owl]

22. Hey Donny -- YOU'RE FIRED

n/t