We now know why Donald Trump has done everything humanly possible to hide his infamous ‘Trump Taxes’ — because boy oh boy, are they a doozy!
Politics
On Tuesday, investigative journalists from The New York Times released a summary of the Trump taxes from 1985 to 1994, showing an unfathomable loss of $1.17 billion dollars. To put that figure into perspective, Donald Trump lost more money than nearly any other individual US taxpayer in each of the reported years.
Or, in other words, a financially successful business guru he ain’t.
For example, The Times reported that in 1990 and 1991, Trump’s core business losses totaled more than $250 million each year — which is more than double any individual taxpayer during those years. They also exposed how Trump helped “his parents dodge taxes” in the 1990s, including “instances of outright fraud,” and that he and his siblings helped his parents hide millions of dollars in gifts via a “sham corporation.”
Donald Trump ran for president boasting about decades of financial success. However, the Trump taxes now prove this was a fakeout. Additionally, Trump has regularly billed himself as a self-made billionaire. However, The Times has now revealed that at the tender age of 3, ‘The Donald’ received at least $413 million in today’s dollars from his father’s real estate empire. He was then able to use those funds to prop up his fake business success, obtain loans he could never repay, avoid paying taxes due to unbelievable financial losses, file bankruptcy on multiple occasions, then fool the world into believing he was one of the greatest financial successes ever.
“The President got massive depreciation and tax shelter because of large-scale construction and subsidized developments,” a senior White House official told The Times. “That is why the President has always scoffed at the tax system and said you need to change the tax laws. You can make a large income and not have to pay large amount of taxes.”
Additionally, Trump lawyer Charles J. Harder claims the Trump taxes obtained by The Times are “demonstrably false” and that their statements “about the President’s tax returns and business from 30 years ago are highly inaccurate.” Interestingly, he never cited a single specific error made by the newspaper.
“IRS transcripts, particularly before the days of electronic filing, are notoriously inaccurate” and “would not be able to provide a reasonable picture of any taxpayer’s return,” Harder added as a flimsy explanation.
Senior Democratic lawmakers inside the US House of Representatives have repeatedly requested copies of the Donald Trump taxes, but their calls have been consistently met with silence. In fact, Treasury Secretary Steven Mnuchin formally denied a request earlier this week from the House Ways and Means Committee to release the last 6 years of the Trump taxes, furthering the narrative that Donald Trump is hell-bent on keeping a lid on the truth about his finances.
As a disclaimer, The Times acknowledged that since it would have been illegal for them to obtain Trump’s physical tax returns, their reporting came from someone who did have legal access to the returns and provided the newspaper with the information they published. The Times then matched the information they received to figures in the public database of the IRS. They then used other public documents to confirm significant findings combined with confidential Trump family tax and financial records the newspaper had previously acquired.
Yes. And sadly, none of this should come as a surprise to anyone who isn’t a Trump sycophant or just plain old right-winger.
Look. Trump isn’t even a “financial guru” in his own mind. He just pretends to think that he is. He knows the Truth about himself. A loser knows he’s a Loser. Just like a pathological Liar, Con-man and Crook knows he’s a pathological Liar, Con-man and Crook. Trump knows he’s all of that and worse.
But until, or unless, he’s ever indicted AND convicted he just doesn’t give a d*mn.