• Tue. Oct 27th, 2020

Uh oh, NY Times got Trump's taxes, and it's even worse than anyone could've imagined

ByAdiantku

Sep 28, 2020

So the assumption was always that impeached soon-to-be-outgoing president Donald Trump hid his taxes for a couple of reasons: he wasn’t as rich as he claimed, and it might provide clues to financial crimes. But mostly, because he wasn’t as rich as he claimed. 

Now that The New York Times has 15 years of his taxes, it’s all that and even more—he’s also a tax cheat. 

There is way too much to unpack, and it will take a while to dig through it all (not to mention the follow-up stories sure to follow). But for starters: 

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.

Pretty much all of you reading this paid more taxes than supposed “billionaire” Donald Trump. 

And then there’s the grift. 

In 2012, he took out a $100 million mortgage on the commercial space in Trump Tower. He took nearly the entire amount as a payout, his tax records show. His company has paid more than $15 million in interest on the loan, but nothing on the principal. The full $100 million comes due in 2022 […]

The balances on those loans had not been paid down by the end of 2018. And the businesses carrying the bulk of the debt — the Doral golf resort ($125 million) and the Washington hotel ($160 million) — are struggling, which could make it difficult to find a lender willing to refinance it.

Trump’s response is laughably stupid (as usual): 

“It’s fake news … actually I paid tax … it’s under audit” — Trump denies a New York Times report that he only paid $750 in federal income taxes in 2016 and ’17, but doesn’t present any evidence to the contrary pic.twitter.com/RkosMUQpES

— Aaron Rupar (@atrupar) September 27, 2020

It’s laughably easy for him to prove otherwise, but he won’t because he can’t. He’s f’d 

Some early reaction: 

$750 is a gratifyingly precise number, and a quick glance at Twitter suggests that it’s going to be endlessly repeated between now and the election.

— Angus Johnston (@studentactivism) September 27, 2020

“… the cost of haircuts, including the more than $70,000 paid to style his hair during “The Apprentice.” Together, nine Trump entities have written off at least $95,464 paid to a favorite hair and makeup artist of Ivanka Trump,” NYT reports … https://t.co/loUwsvrnEX

— David Siders (@davidsiders) September 27, 2020

“Within the next four years, more than $300 million in loans — obligations for which he is personally responsible — will come due…His properties have become bazaars for collecting money directly from lobbyists, foreign officials and others seeking face time, access or favor…”

— Will Goodwin (@Will_P_Goodwin) September 27, 2020

Trump’s chronic tax evasion is an utter disgrace. But this is the big scandal, I think. He is using the presidency to enrich himself by selling out the American people. https://t.co/VI870LVgH0

— Michael Linden (@MichaelSLinden) September 27, 2020

My whole timeline right now — We all pay more in federal income taxes than that asshole we have for a president. Who here has ever had a tax bill where you had to create an installment plan with the IRS? I have, and it sucks! #VoteHimOut2020

— Adriana Maestas (@AdrianaMaestas) September 27, 2020

You can read Trump’s tax returns two ways: either Donald Trump is the greatest tax cheat in US history – or he is a financial desperado hopelessly in debt to God knows who & needs every dollar he scams from Secret Service golf car rentals just to pay the electricity bill

— David Frum (@davidfrum) September 27, 2020

There’s always a Tweet. #TrumpIsALaughingStock #TrumpTaxReturns pic.twitter.com/jST4qKtkWm

— Jules Morgan (@glamelegance) September 27, 2020

Much more to follow. 

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