Trump's Taxes Show Chronic Losses and Years of Tax Avoidance
Source: New York Times
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.
Read more: https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Top%20Stories&pgtype=Homepage
Ok, this shows that he is a loser. Will the suckers who voted for him wake up ?
Cerridwen
(13,252 posts)C Moon
(12,212 posts)tclambert
(11,085 posts)Cerridwen
(13,252 posts)Drum
(9,128 posts)hlthe2b
(102,190 posts)wow!
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 Timess findings; additional articles will be published in the coming weeks.
paleotn
(17,901 posts)...Hey, what are these boxes of documents?
Of course now everything is electronic. But back in the day, an occasional Andy Dufresne "document dump" at a major newspaper wasn't all that uncommon. Apparently it's still not that uncommon.
in2herbs
(2,944 posts)oldsoftie
(12,516 posts)NurseJackie
(42,862 posts)Zorro
(15,730 posts)Fasten your seat belts.
We have a president who cheats on his taxes.
Stuart G
(38,414 posts)PatSeg
(47,351 posts)That is far worse I'd imagined! No wonder he looked so peaked and lethargic at his press conference today. MSNBC cut in on it after only a couple of minutes as soon as he started bashing the media.
Wow, this is going to take a bit of time to digest.
agingdem
(7,827 posts)don't give a damn about his taxes, his sexual deviancy, his inhumanity, his psychopathy...they vote their hate...he gives voice to their racial/ethnic/gender hate...he normalized it and legitimized it..and they can brandish their guns, scream the N-word, chant "Jews will not replace us", assault hispanics and asians and suffer no consequences..and they love him for it...
Dark n Stormy Knight
(9,760 posts)However, hopefully there are still people who aren't yet in the cult--the inexplicably undecided--for whom this may be a big negative against the failed businessman tax cheat.
Snellius
(6,881 posts)How many are tax fraud?
BlueWavePsych
(2,635 posts)Illumination
(2,458 posts)life form!...
C Moon
(12,212 posts)Illumination
(2,458 posts)Illumination
(2,458 posts)to the N.Y. Times RE: D.T.'s financials!...
sarcasmo
(23,968 posts)dhill926
(16,333 posts)expose this piece of shit....$750 in taxes? Hammer him mercilessly on this....
rdking647
(5,113 posts)but we know he will never do that
paleotn
(17,901 posts)If it's false, prove it. Easily done. Would only take a couple years of returns to discredit the article.
paleotn
(17,901 posts)Holy shita! Holy shita!
This validates what many have suspected all along. He's a terrible business person, but is willing to cheat on his taxes any way he can. My prediction... We will learn that he is bankrupt. His debts far exceed the true market value of his assets. In short, he blew all of dad's money and just has a pile of debt to will to the spawn. Guess they'll have grift on their own.
Mc Mike
(9,111 posts)yaesu
(8,020 posts)its a broken system that, like our government and laws, favors the uber rich.
Mr.Bill
(24,262 posts)yaesu
(8,020 posts)mysteryowl
(7,370 posts)Big surprise!
mtngirl47
(988 posts)They are evaluating a $70M tax "refund" that he claimed and received. It is also being evaluated by a congressional office that oversees refunds of more than $2M per person.
If he has to pay it back it will be over $100M with interest and penalties.
bucolic_frolic
(43,115 posts)Yup, that's a builder-developer.
otchmoson
(68 posts)What did Jared & Ivanka pay? And Don Jr.? And Eric? Inquiring minds . . . and all that!
AllyCat
(16,173 posts)Mr.Bill
(24,262 posts)is visiting hours at the federal prison.
Wellstone ruled
(34,661 posts)Niece,via her 19 boxes of files and a follow on Law Suit shook the tree . Betcha Deutche Bank as well as Bank of New York Mellon supplied some missing paper work.
Michael Cohen you hold the cards, show your hand. Full disclosure and nothing less.
Etherealoc1
(256 posts)...is blasting Rump on MSNBC right now!!
Grokenstein
(5,721 posts)After all, there are no laws against "tax avoision."
fierywoman
(7,679 posts)George II
(67,782 posts)bucolic_frolic
(43,115 posts)The Deep Sh*t is!
Response to bucolic_frolic (Reply #28)
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bucolic_frolic
(43,115 posts)Wicked Blue
(5,826 posts)I knew it!
No wonder he was fighting so hard to keep them hidden.
I wonder if his lawyers are going to get paid.
cstanleytech
(26,273 posts)Escurumbele
(3,383 posts)I have to admit that I read the entire article, and it needs to be condensed to a shorter document. I have to think that for his base to understand it someone needs to write a summary that explains in very easy terms what it is that trump has done consistently to avoid paying taxes, how he has cheated the country.
Must be written in such a way that his base will easily understand that the guy is not the billionaire he claims to be, that in fact he is just a cheater and a failure.
Dukkha
(7,341 posts)"He did nothing illegal" "it's smart business gaming the system"
ignoring the fact the "smart billionaire" is neither and has been bleeding money like a harpooned whale
onetexan
(13,033 posts)She's right - whose loaning money to him? Where did his money come from?
"Proceeds from fame"?
Follow the money!
70sEraVet
(3,479 posts)And either Putin or MBS (or a combination of the two) have guaranteed the loans, when Trump loses the election he's going to be BEGGING to be put in prison!
Wuddles440
(1,121 posts)and the Dem leadership need to make this a major talking point - How can someone claim to be "the greatest supporter of the military and law enforcement in the history of this country" and literally not contribute any financial support towards their operations? Also, how does someone who always claims to be a "genius" and "incredible businessman" consistently fail in his business endeavors, amassed levels of debt that are beyond reckless, and constantly needs to be rescued by charitable benefactors to remain solvent (or publicly appear to be so). There's no doubt that Putin, MBS, and others are into him for millions, if not, billions of dollars.
Response to KSNY (Original post)
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dustyscamp
(2,223 posts)sarcasmo
(23,968 posts)Stuart G
(38,414 posts)....I have read somewhere, that that is why they put erasers on pencils.............
...I have also read that that same reason is why they put the delete key on the computer......
....Sorry...time to hide again........
I should also add this one ..... ..... ....
Please, Please, & Please...do not be offended by ............Stupid Stuart.......... ... ... ...
Illage Vidiot
(79 posts)Yeah, I'm that old!
Blue Owl
(50,325 posts)he and his grifter family have been looting the Treasury, making millions off the WH brand, especially First daughter and Jarad. And trumpchump has paid close to no taxes, none. Less than the average low life deplorable member of his cult base. And millions of people will still vote for this loser. I just never realized how deep stupid ran in this country. The potus has shown everyone.