Donald Trump has not paid any taxes in 10 of the previous 15 years. And for some years. he paid as little as $750. The New York Times has his tax returns.

[jehurey 3,299]

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?auth=login-email&login=email

 

This is only the first part, the entire article is at least 6 times longer than this and go into extreme detail.

 

Quote

 

The President’s Taxes

Long-Concealed Records Show Trump’s Chronic Losses and Years of Tax Avoidance

 

The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.

 

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 returns are some of the most sought-after, and speculated-about, records in recent memory. In Mr. Trump’s nearly four years in office — and across his endlessly hyped decades in the public eye — journalists, prosecutors, opposition politicians and conspiracists have, with limited success, sought to excavate the enigmas of his finances. By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia.

In response to a letter summarizing The Times’s findings, Alan Garten, a lawyer for the Trump Organization, said that “most, if not all, of the facts appear to be inaccurate” and requested the documents on which they were based. After The Times declined to provide the records, in order to protect its sources, Mr. Garten took direct issue only with the amount of taxes Mr. Trump had paid.

“Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Mr. Garten said in a statement.

With the term “personal taxes,” however, Mr. Garten appears to be conflating income taxes with other federal taxes Mr. Trump has paid — Social Security, Medicare and taxes for his household employees. Mr. Garten also asserted that some of what the president owed was “paid with tax credits,” a misleading characterization of credits, which reduce a business owner’s income-tax bill as a reward for various activities, like historic preservation.

The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow.

Together with related financial documents and legal filings, the records offer the most detailed look yet inside the president’s business empire. They reveal the hollowness, but also the wizardry, behind the self-made-billionaire image — honed through his star turn on “The Apprentice” — that helped propel him to the White House and that still undergirds the loyalty of many in his base.

Ultimately, Mr. Trump has been more successful playing a business mogul than being one in real life.

“The Apprentice,” along with the licensing and endorsement deals that flowed from his expanding celebrity, brought Mr. Trump a total of $427.4 million, The Times’s analysis of the records found. He invested much of that in a collection of businesses, mostly golf courses, that in the years since have steadily devoured cash — much as the money he secretly received from his father financed a spree of quixotic overspending that led to his collapse in the early 1990s.

Indeed, his financial condition when he announced his run for president in 2015 lends some credence to the notion that his long-shot campaign was at least in part a gambit to reanimate the marketability of his name.

As the legal and political battles over access to his tax returns have intensified, Mr. Trump has often wondered aloud why anyone would even want to see them. “There’s nothing to learn from them,” he told The Associated Press in 2016. There is far more useful information, he has said, in the annual financial disclosures required of him as president — which he has pointed to as evidence of his mastery of a flourishing, and immensely profitable, business universe.

In fact, those public filings offer a distorted picture of his financial state, since they simply report revenue, not profit. In 2018, for example, Mr. Trump announced in his disclosure that he had made at least $434.9 million. The tax records deliver a very different portrait of his bottom line: $47.4 million in losses.

Tax records do not have the specificity to evaluate the legitimacy of every business expense Mr. Trump claims to reduce his taxable income — for instance, without any explanation in his returns, the general and administrative expenses at his Bedminster golf club in New Jersey increased fivefold from 2016 to 2017. And he has previously bragged that his ability to get by without paying taxes “makes me smart,” as he said in 2016. But the returns, by his own account, undercut his claims of financial acumen, showing that he is simply pouring more money into many businesses than he is taking out.

The picture that perhaps emerges most starkly from the mountain of figures and tax schedules prepared by Mr. Trump’s accountants is of a businessman-president in a tightening financial vise.

Most of Mr. Trump’s core enterprises — from his constellation of golf courses to his conservative-magnet hotel in Washington — report losing millions, if not tens of millions, of dollars year after year.

His revenue from “The Apprentice” and from licensing deals is drying up, and several years ago he sold nearly all the stocks that now might have helped him plug holes in his struggling properties.

The tax audit looms.

And within the next four years, more than $300 million in loans — obligations for which he is personally responsible — will come due.

Against that backdrop, the records go much further toward revealing the actual and potential conflicts of interest created by Mr. Trump’s refusal to divest himself of his business interests while in the White House. His properties have become bazaars for collecting money directly from lobbyists, foreign officials and others seeking face time, access or favor; the records for the first time put precise dollar figures on those transactions

 

How does somebody who has, basically since the start of the millennium, been reporting that have been making almost no-money, or reporting that they've been losing millions and millions year after year........was able to secure hundreds of millions of dollars worth of loans?

Particularly at just ONE branch location of ONE bank, and no where else?

 

Edited September 27, 2020 by jehurey

[Cooke 2,041]

Do you believe this?

[jehurey 3,299]

9 minutes ago, Cooke (not admin cant help said:

Do you believe this?

Do not derail the thread. Either talk about Trump taxes and the contents of the article, or be somewhere else.

 

 

Quote

$700,000 to Ivanka for Consulting Fees, but she didn’t claim it as income.

Looks like all of them were engaging in tax fraud.

[jehurey 3,299]

 

[Cooke 2,041]

11 minutes ago, jehurey said:

Do not derail the thread. Either talk about Trump taxes and the contents of the article, or be somewhere else.

 

 

Looks like all of them were engaging in tax fraud.

Do not derail the thread? Lmao. Im asking if you believe he's only paid 750 dollars in taxes. 

[Chicano3000 119]

He needs to stay President or else

*rolling sound

*clang

♫ Convict Music! ♫

Edited September 27, 2020 by Chicano3000

[jehurey 3,299]

Just now, Cooke (not admin cant help said:

Do not derail the thread? Lmao. Im asking if you believe he's only paid 750 dollars in taxes. 

his tax returns show that his own tax lawyers calculated $750 in taxes to pay.

 

yeah.

 

the other 10 years, he's claimed losses so that he pays zero dollars in taxes

[Cooke 2,041]

5 minutes ago, jehurey said:

his tax returns show that his own tax lawyers calculated $750 in taxes to pay.

 

yeah.

 

the other 10 years, he's claimed losses so that he pays zero dollars in taxes

What tax returns? If someone has seen them why aren't they released? I get that the US is a fucked up country and losers don't have to pay taxes, but paying only 750 seems unlikely, even for Trump. 

Edited September 27, 2020 by Cooke (not admin cant help

[jehurey 3,299]

Just now, Cooke (not admin cant help said:

What tax returns? If someone has seen them why aren't they released? 

NYT has them............pay attention and read before posting.

 

And the judge in the State of NY vs Trump case that is ongoing right now has told the NY Attorney General that they can obtain a copy of his tax returns.

 

So his tax returns are definitely coming out. NYT probably already had them but was waiting for legal cover from a court to rule it acceptable to release his tax returns to the public, and now that is why NYT is revealing the details of them.

[Goukosan 2,294]

41 minutes ago, Cooke (not admin cant help said:

Do you believe this?

the Judge and the NY state attorney fabricated Trump's official IRS tax returns 😐

[54212 432]

Hey thanks NYT for stealing Trump's tax returns and showing:

 

1. He didn't cheat on his taxes

 

2. No Russia conspiracy

 

• "Nor do they reveal any previously unreported connections to Russia."

 

3. Nothing on Stormy

 

• "The data contains no new revelations about the $130,000 payment to Stephanie Clifford, the actress who performs as Stormy Daniels"

 

4. He blew his money on golf courses and then wrote off the loses

 

• "When “The Apprentice” premiered, Mr. Trump had opened only two golf courses and was renovating two more. By the end of 2015, he had 15 courses and was transforming the Old Post Office building in Washington into a Trump International Hotel. But rather than making him wealthier, the tax records reveal as never before, each new acquisition only fed the downward draft on his bottom line. [...]  Over all, since 2000, Mr. Trump has reported losses of $315.6 million at the golf courses that are his prized possessions."

 

You're doing bang-up work. 😂

[jehurey 3,299]

Just now, Saucer said:

Hey thanks NYT for stealing Trump's tax returns and showing:

 

1. He didn't cheat on his taxes

 

2. No Russia conspiracy

 

• "Nor do they reveal any previously unreported connections to Russia."

 

3. Nothing on Stormy

 

• "The data contains no new revelations about the $130,000 payment to Stephanie Clifford, the actress who performs as Stormy Daniels"

 

4. He blew his money on golf courses and then wrote off the loses

 

• "When “The Apprentice” premiered, Mr. Trump had opened only two golf courses and was renovating two more. By the end of 2015, he had 15 courses and was transforming the Old Post Office building in Washington into a Trump International Hotel. But rather than making him wealthier, the tax records reveal as never before, each new acquisition only fed the downward draft on his bottom line. [...]  Over all, since 2000, Mr. Trump has reported losses of $315.6 million at the golf courses that are his prized possessions."

 

You're doing bang-up work. 😂

Oh man, Saucer is running in here with the right-wing talking points, little too quickly.

 

Actually it shows tons of fraudulent claims.

 

Specifically them claiming million of dollars in consulting fees that they charges from overseas deals, that they then OMITTED from their tax returns.

 

This goes for members of Trumps family, like Ivanka.

 

That's tax fraud, baby.

[54212 432]

I clicked on a Jerry post to see if he's being as retarded as ever. Yup. Not clicking on that shit again. 😂

 

• "There is no indication that the I.R.S. has questioned Mr. Trump’s practice of deducting millions of dollars in consulting fees. "

[jehurey 3,299]

48 minutes ago, Saucer said:

I clicked on a Jerry post to see if he's being as retarded as ever. Yup. Not clicking on that shit again. 😂

 

• "There is no indication that the I.R.S. has questioned Mr. Trump’s practice of deducting millions of dollars in consulting fees. "

It doesn't matter where he has been questioned about the fees.

 

It is tax fraud that they not report it.

 

Not to mention that the IRS wouldn't be questioning Trump, they would be questioning the person who was paid and didn't report it to the IRS, which would be Ivanka in this case.

 

I love how Saucer is trying to side-step the obvious and pretend he debunked something by actually pointing out something that nobody was arguing in the first place.

 

He does this when he knows he doesn't have a winning counter-argument........so he creates a side argument that he thinks he can win.

 

He's been doing this quite a bit lately..........and its noticeable. LOL

 

There's a reason why he won't attempt to argue me head-on, again. I bitchslap him in his place.

Edited September 28, 2020 by jehurey

[jehurey 3,299]

 

And you know that NYT is going to have more financial records. to show, possibly throughout October.

 

They even went out of their way to say "these are tax returns, and tax returns are not necessarily an indicator of net worth" pretty up front in the article.

 

They will probably have other financials from Trump regarding his actual wealth.

[jehurey 3,299]

 

Quote

 

Among the key findings of The Times’s investigation:

• 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.

 

Nothing illegal here.

 

Except that the IRS is questioning him about a huge refund that appears to be bogus.

 

I wonder if lying and cheating on your taxes to get a refund is considered a crime?

 

[jehurey 3,299]

 

[jehurey 3,299]

He's gonna blow an O-ring, and the Debate is this Tuesday

 

 

 

 

 

 

[Chicano3000 119]

[jehurey 3,299]

Which he used as a tax deduction. he wrote off $70,000 from his haircuts.

 

A teacher, in America, can only be allowed to write off a maximum of $250 for buying school supplies for their kids.

 

Democrats are absolutely going to slaughter the living fuck out of him.

 

He's either a moocher who pays no taxes, or he has to admit to he has no money.

 

Although tax returns are not an indicator of current wealth, it shows that Trump had sold his securities , which literally makes him money if he hold onto them. So, for him to sell them means that he did not have liquid-able assets or cash during the short term to support himself. He'd have to be hurting financially to think about selling those.

 

He doesn't have any money.