#BillionDollarLoser - Individual-1’s lies continue as the NY Times reveals a bit more about how poorly he ran his businesses, to the tune of at least a billion dollars in losses.
The first presidential debate in 2016 should have signaled the end of his campaign. Yet we still do not even know how he was bailed out by Russian money, which goes to the quid pro quo of #TrumpRussia.
First Debate September 2016
CLINTON: For 40 years, everyone running for president has released their tax returns. You can go and see nearly, I think, 39, 40 years of our tax returns, but everyone has done it. We know the IRS has made clear there is no prohibition on releasing [returns] when you’re under audit.
So you’ve got to ask yourself, why won’t [Trump] release his tax returns? And I think there may be a couple of reasons. First, maybe he’s not as rich as he says he is. Second, maybe he’s not as charitable as he claims to be. Third, we don’t know all of his business dealings, but we have been told through investigative reporting that he owes about $650 million to Wall Street and foreign banks.
Or maybe he doesn’t want the American people, all of you watching tonight, to know that he’s paid nothing in federal taxes, because the only years that anybody’s ever seen were a couple of years when he had to turn them over to state authorities when he was trying to get a casino license, and they showed he didn’t pay any federal income tax.
TRUMP: That makes me smart.
But when questioned by CNN’s Dana Bash immediately after the debate, Trump disclaimed that he said his paying no federal income taxes made him smart, quickly pivoting off the subject onto a complain about government spending:
DANA BASH: My question for you is, first of all, it sounds like you admitted that you hadn’t paid federal taxes and that, that was smart. Is that what you meant to say?
TRUMP: No, I didn’t say that at all. I mean if they say I didn’t, I mean it doesn’t matter.
I will say this, I hate the way our government spends our taxes because they are wasting our money. They don’t know what they’re doing. They’re running it so poorly. Whether it’s spent in Iraq or wherever they’re spending it, they are wasting our money. So I do hate the way our government spends our money.
www.snopes.com/...
“Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners.”
Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition.
The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.
[...]
Since the 2016 presidential campaign, journalists at The Times and elsewhere have been trying to piece together Mr. Trump’s complex and concealed finances. While The Times did not obtain the president’s actual tax returns, it received the information contained in the returns from someone who had legal access to it. The Times was then able to find matching results in the I.R.S. information on top earners — a publicly available database that each year comprises a one-third sampling of those taxpayers, with identifying details removed. It also confirmed significant findings using other public documents, along with confidential Trump family tax and financial records from the newspaper’s 2018 investigation into the origin of the president’s wealth.
https://t.co/GDiZIBuJS3
In that 2018 piece Trump was revealed to have engaged in extensive tax fraud going back to his inheritance.