As I’m sure you’ve heard by now, the New York Times managed to get their hands on Trump’s tax returns, and we finally learn why, unsurprisingly, he refused to release them willingly. He’s a tax cheat, a fraud, and a loser.
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.
I pay more in taxes than this “billionaire” — and you probably do, too — which I’m sure his supporters will claim is an example of his canny business acumen. Harder to rationalize with that excuse, though, is that his way out of paying taxes is to lose so much money in the businesses he runs that he is sitting in his office with hundreds of millions of dollars in debt, much of which will come due in the next few years. Poor man. I thought I was struggling with a mortgage and legal debts. His daughter is also implicated in the shenanigans, in which he paid her tens of millions of dollars (and paid himself!) that he then declared as losses he could deduct from his taxes.
I’d like to know who he is beholden to, which would have been information we should have had prior to the last election.
And right now, he’s desperate to hold onto the presidency, not for the good of the country, but to escape the financial obligations that are going to splat his griftin’ ass into putrid slimy gibs in the near future. Unless, that is, a lot of bankers see him as representing their just fate and try to shelter him.