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. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.
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.
The wheels are coming off...
Additional information...
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.
He has reduced his tax bill with questionable measures, including a $72.9 million tax refund that is the subject of an audit by the Internal Revenue Service.
Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.
The financial pressure on him is increasing as hundreds of millions of dollars in loans he personally guaranteed are soon coming due.
Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television.
Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill.
As president, he has received more money from foreign sources and U.S. interest groups than previously known. The records do not reveal any previously unreported connections to Russia.
Any chance this will come up on Tuesday?
"The great problem of any civilization is how to rejuvenate itself without rebarbarization." - Will Durant "We've kept more promises than we've even made" - Donald Trump "Of what meaning is the world without mind? The question cannot exist." - Edwin Land
Fake news. Everyone knows he's an awesome businessman. Just listen to him talk and you can tell...
Just anticipating the flavor of what the idiots will say about what are the predictable contents of Trump's tax returns. Of course he's a criminal when it comes to taxes. Tax fraud would be the first of the many laws he thought of to break.
God belief is for people who don't want to live life on the universe's terms.
Even if the report is 100% accurate, do you honestly believe any American cares that Trump filed taxes with the exact same goal as everyone?
Seek freedom and become captive of your desires...seek discipline and find your liberty I can tell if a person is judgmental just by looking at them what is chaos to the fly is normal to the spider - morticia addams If you're not upsetting idiots, you might be an idiot. - Ted Nugent
President Donald Trump on Sunday dismissed a New York Times story claiming they had obtained copies of his tax returns.
“The story is a total fake,” Trump said after he was asked about the story at a press conference.
He accused the Times of routinely published “fake story after fake story,” about his presidency.
“I’ve never seen anything like it; that’s why the media has such a low rating,” Trump continued.
The Times reported Sunday that Trump paid no taxes in ten of the 15 years of tax returns they obtained, and only paid $750 in federal income taxes in 2016 and 2017. The Times stated it would not release Trump’s actual tax return documents to protect the sources.
But the president claimed that he “paid a lot” of taxes including state income taxes in New York.
“The IRS does not treat me well,” Trump said. “And they treat me like the Tea Party. They treat me very badly.”
He said his taxes would soon be released as a result of recent court decisions.
“I look forward to releasing that,” Trump added.
The only people who care about this aren't going to be voting for Trump anyway. Charlie Rangel, Melissa Harris-Perry, Al Sharpton, Maxine Waters all cheat on their taxes and I seriously doubt a single one of their constituents decided not to vote for them because of it. Bill DeBlasio used devaluation of property to pay less than 7.5% of his income in tax and he's the one constantly pushing to continue raising taxes on other Americans. None of his constituents care. I certainly could not care less even if this were true of the President. And I'm certainly not going to trust a story released by fake news anymore than those on this board would trust a story from Breitbart.
And when the confederates saw Jackson standing fearless as a stone wall the army of Northern Virginia took courage and drove the federal army off their land.
Yes ajax, we all know you enjoy being butt-fu-cked by your Criminal in Chief. Hell, you're his prison bit-ch. We get it. It doesn't matter how much he makes your anus bleed, you will always come back for more.
God belief is for people who don't want to live life on the universe's terms.
Even if the report is 100% accurate, do you honestly believe any American cares that Trump filed taxes with the exact same goal as everyone?
They will probably care that middle class Americans have to pay more in taxes then a multi billionaire like Trump. They will probably care that middle class Americans have to pay out of their own pockets to keep Trump rich.
Even if the report is 100% accurate, do you honestly believe any American cares that Trump filed taxes with the exact same goal as everyone?
They will probably care that middle class Americans have to pay more in taxes then a multi billionaire like Trump. They will probably care that middle class Americans have to pay out of their own pockets to keep Trump rich.
We'll just have to see, won't we. Subby is such a brave little soldier.
“The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated communist, but people for whom the distinction between fact and fiction, true and false, no longer exists.”
― Hannah Arendt, The Origins of Totalitarianism, 1951
They will probably care that middle class Americans have to pay more in taxes then a multi billionaire like Trump. They will probably care that middle class Americans have to pay out of their own pockets to keep Trump rich.
The problem here is that if you're the type of person who's believed Trump was a billionaire this whole time, you're likely willing to buy this tax business is all fake news. In other words, the cult will follow their idiot into the abyss.
God belief is for people who don't want to live life on the universe's terms.