Trump's taxes
The one area in which many Americans seem to trust Trump more than Biden is the economy. This is hilarious because Trump is known for being a terrible businessman.
Now, The New York Times has come into possession of some of his financial records and they show he is even more of a financial schmuck than first realized. Here are just a few bits from the article.
18 Revelations From a Trove of Trump Tax Records
Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017, after he became president, his tax bill was only $750.
Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.
He appears to have paid off none of the principal of the Trump Tower mortgage, and the full $100 million comes due in 2022. And if he loses his dispute with the I.R.S. over the 2010 refund, he could owe the government more than $100 million (including interest on the original amount).
In the 1990s, Mr. Trump nearly ruined himself by personally guaranteeing hundreds of millions of dollars in loans, and he has since said that he regretted doing so. But he has taken the same step again, his tax records show. He appears to be responsible for loans totaling $421 million, most of which is coming due within four years.
If I did all this, I'm sure they'd reinstate debtor's prison for me. But Trump skates. Why would anyone vote for him on the economy?
Now, The New York Times has come into possession of some of his financial records and they show he is even more of a financial schmuck than first realized. Here are just a few bits from the article.
18 Revelations From a Trove of Trump Tax Records
Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017, after he became president, his tax bill was only $750.
Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.
He appears to have paid off none of the principal of the Trump Tower mortgage, and the full $100 million comes due in 2022. And if he loses his dispute with the I.R.S. over the 2010 refund, he could owe the government more than $100 million (including interest on the original amount).
In the 1990s, Mr. Trump nearly ruined himself by personally guaranteeing hundreds of millions of dollars in loans, and he has since said that he regretted doing so. But he has taken the same step again, his tax records show. He appears to be responsible for loans totaling $421 million, most of which is coming due within four years.
If I did all this, I'm sure they'd reinstate debtor's prison for me. But Trump skates. Why would anyone vote for him on the economy?
posted by crystal | 5:15 PM
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