Trump's Taxes Show Chronic Losses and Years of Tax Avoidance

[KSNY]

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

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Ok, this shows that he is a loser. Will the suckers who voted for him wake up ?

[Cerridwen]

1. they'll call it "smart business." "only 'suckers' pay taxes." n/t

[C Moon]

21. That's what I was thinking. They'll put a spin on it, and his followers will cheer.

[tclambert]

45. Leona Helmsley: "Only the little people pay taxes." She subsequently did time for tax evasion.

[Cerridwen]

48. "the queen of mean" Yep. Lived through it real time.

[Drum]

59. Indeed! And I remember this:

[hlthe2b]

2. How did NYT obtain tax-return data extending over more than 2 decades, excluding '18 & '19 personal?

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 Times’s findings; additional articles will be published in the coming weeks.

[paleotn]

22. Loading dock at the NY Times....

...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]

34. Is Melania deep throat??? nt

[oldsoftie]

37. I kinda always thought that from the start.......

[NurseJackie]

40. Apparently that's not a skill that she needs... currently.

[Zorro]

3. This will make him go ballistic

Fasten your seat belts.

We have a president who cheats on his taxes.

[Stuart G]

56. .Love your sentence, 'We have a president who cheats on his taxes". Thank You for that sentence..

[PatSeg]

4. Holy crap!!!

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]

5. those loathsome adoring sycophants

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]

43. Yes, those despicable enablers without whom Pissolini never gets to sleep in the WH.

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. *Reported* losses. Now comes the fun part.

How many are tax fraud?

[BlueWavePsych]

7. You're fired! What a LOSER!

[Illumination]

12. How unfortunate Americans have had to endure all the corruption from this illegitimate

life form!...

[C Moon]

23. And so many innocent lives lost to COVID because of his asshole-ness.

[Illumination]

49. Yes. You're right. Needlessly unfortunately...

[Illumination]

8. You might recall in Mary Trump's book that she turned over 19 BOXES of DOCUMENTS

to the N.Y. Times RE: D.T.'s financials!...

[sarcasmo]

9. Taxpayers are suckers and losers.

[dhill926]

10. this should be BIG news....

expose this piece of shit....$750 in taxes? Hammer him mercilessly on this....

[rdking647]

11. of course if its fake news he could just realease his returns

but we know he will never do that

[paleotn]

14. Bingo!

If it's false, prove it. Easily done. Would only take a couple years of returns to discredit the article.

[paleotn]

13. In the immortal words of John Belushi....

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]

15. What a great businessman genius. He'll run the country like he runs his businesses.

[yaesu]

16. like Warren Buffett said, who is worth $80 billion, that he paid less taxes than his secretary

its a broken system that, like our government and laws, favors the uber rich.

[Mr.Bill]

29. I think that was less taxes as a percentage of income. n/t

[yaesu]

35. Yeah, I think it was a tax bracket thing but good on him for making it public. nt

[mysteryowl]

17. So, that means there was no audit?

Big surprise!

[mtngirl47]

52. Yes there is an audit according to the NYT article.

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]

18. Don't maximize your income, don't maximize your bottom line. Maximize your tax deductions.

Yup, that's a builder-developer.

[otchmoson]

19. And the rest of the family?

What did Jared & Ivanka pay? And Don Jr.? And Eric? Inquiring minds . . . and all that!

[AllyCat]

33. Excellent question. The spawn are worried about their inheritance.

[Mr.Bill]

36. All they should be worried about

is visiting hours at the federal prison.

[AllyCat]

41. Yup

[Wellstone ruled]

20. So the Orange A-Hole's

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.

[Etherealoc1]

24. Cohen

Michael Cohen you hold the cards, show your hand. Full disclosure and nothing less.

[Etherealoc1]

50. COHEN

...is blasting Rump on MSNBC right now!!

[Grokenstein]

25. Don-Don's defense: playing the word game.

After all, there are no laws against "tax avoision."

[fierywoman]

26. He's the Bigly-est Loser.

[George II]

27. Ah, the October Surprise four days early.

[bucolic_frolic]

28. The Deep State's not getting Trump

The Deep Sh*t is!

[bucolic_frolic]

47. ????????????/

[Wicked Blue]

30. Bwa ha ha ha ha ha ha

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]

31. Title could have easily been "Trump is a loser".

[Escurumbele]

32. Somebody needs to make a summary as in the "Idiot's Guide to understanding Trump's Taxes"

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]

38. Apologists are already trolling

"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]

39. Stephanie Ruhle is calling into MSNBC now: "Where is the money coming from?"

She's right - whose loaning money to him? Where did his money come from?

"Proceeds from fame"?
Follow the money!

[70sEraVet]

54. If a loan of several 100 million is coming due,

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]

42. The Biden campaign...

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.

[dustyscamp]

51. The diehard assholes won't but maybe a few people on the fence will

[sarcasmo]

53. Don the Con

[Stuart G]

55. I made a mistake...and posted the front page a 2nd time...Sorry..

....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]

57. But what of Vladimir, NYT, what of Vladimir?

Yeah, I'm that old!

[Blue Owl]

58. FUCK TRUMP

[llashram]

60. so...

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.

[BlueWavePsych]

61. I paid more taxes than Drumpf