Trump's Tax Returns are Finally Public

The Times, in a news story published Sunday evening that disclosed years of the president’s tax returns, also put a lot of clothing on things we didn’t know. Trump paid just $750 in federal income taxes in 2016, the year he was elected president, and the same amount the following year, when he entered the White House. In many years recently he hasn’t paid anything at all. He has played so fast and loose with the taxman that he’s entangled in an audit. He paid his daughter Ivanka lush consulting fees that he deducted as a business expense even though she helped him manage the Trump Organization. And he’s taken questionable tax write-offs on everything from getting his hair coifed to managing his personal residences.

Step away from the tragicomic tawdriness and grift that the tax returns define, however, and focus on what they reveal about Trump as the most powerful man in the world and occupant of the Oval Office.

Due to his indebtedness, his reliance on income from overseas and his refusal to authentically distance himself from his hodgepodge of business, Trump represents a profound national security threat – a threat that will only escalate if he’s re-elected. The tax returns also show the extent to which Trump has repeatedly betrayed the interests of many of the average Americans who elected him and remain his most loyal supporters.

Trump pays little tax
The Times reported that Trump paid no federal income taxes in 11 of 18 years the newspaper looked at. In 2017, after he became president, his tax bill was only $750. This is despite Trump often railing against taxes in America and ushering through a series of tax cuts that critics say mostly helps the rich and big business.

Barack Obama and George W Bush each regularly paid more than $100,000 a year.

A long audit – with potentially hefty costs
Trump is involved in a decade-long audit with the Internal Revenue Service over a $72.9m tax refund he claimed, and received, after declaring huge losses. A ruling against him could cost him more than $100m, the Times reported.

It added: “In 2011, the IRS began an audit reviewing the legitimacy of the refund. Almost a decade later, the case remains unresolved, for unknown reasons, and could ultimately end up in federal court, where it could become a matter of public record.”

Ivanka helps reduce Trump’s tax burden
The president’s oldest daughter, while working as an employee of the Trump Organization, appears to have received “consulting fees” that helped reduce the family’s tax bill, the Times said. Such a revelation might further tarnish the reputation of Ivanka, a senior White House adviser married to another, Jared Kushner, who often tries to distance herself from some of the biggest scandals of her father’s administration. She is widely believed to harbor political ambitions of her own after Trump leaves office.

The Times reported: “Trump’s private records show that his company once paid $747,622 in fees to an unnamed consultant for hotel projects in Hawaii and Vancouver, British Columbia. Ivanka Trump’s public disclosure forms – which she filed when joining the White House staff in 2017 – show that she had received an identical amount through a consulting company she co-owned.”

Trump businesses lose money
The Times was brutal in its assessment of Trump’s businesses, about which he often boasts and on the back of which he sought to promote a carefully curated image as a master businessman. “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,” the newspaper said.

It detailed how since 2000, Trump has reported losing more than $315m at his golf courses, with much of that coming from Trump National Doral in Florida. His Washington hotel, which opened in 2016 and has been the subject of much speculation regarding federal ethics laws, has lost more than $55m.

Trump has a big bill to pay
The newspaper also reported that Trump is facing a major financial bill, as within the next four years, hundreds of millions of dollars in loans will come due. The paper said Trump is personally responsible for many of those obligations.

The paper reported: “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 $421m, most of which is coming due within four years.”

In a blunt summary of the problem, the Times speculated: “Should he win re-election, his lenders could be placed in the unprecedented position of weighing whether to foreclose on a sitting president.”

Is this honestly an important issue to anyone?

If it was Biden who were having these tax problems... would it change your vote?

...but this campaign should be about Immigration and Health Care and Civil rights and Climate Change.

These outrage stories about tax returns on the Trump side and Ukrainian gas companies on the Biden side seem a little silly.

That is a partisan dodge, Hightor.

Joe Biden's son was paid a ridiculous sum by a Ukrainian gas company for no discernable reason other than his connection to the Vice President. It this doesn't bother you then nothing matters to you outside of your partisan bubble.

I would rather he doesn't get the Nixon treatment.

Placing Trump in a prison outfit and putting him away for an extended time, might serve as a warning and wake-up for others who are doing or considering similar stunts.

Politicians have been given an easy time for far too long. It's about time they faced the same thing that the average person has to. Especially, since the politicians crafted most of these laws that they now disrespect.

NYT ‘Refused To Listen’ Says Trump Atty Over ‘Fake News’ Trump Tax Returns

While we tried to explain this to the Times, they refused to listen and rejected our repeated request that they show us any of the documentation they purport to be relying on to substantiate their claims” added Garten. “Obviously this is just part of the Times’ ongoing smear campaign in the run up to the election” he added.

you guys are really panicking over these tax docs. It does make Trump a asset to those to whom he owes th money eh? Conversely hes a danger to us.

I think the folks who are seeing this reasonably (lots of time spent on this very subject by two separate jurisdictions).