New York Times gets a decade worth of Trump’s tax returns. Shows he lost over a billion dollars which is more than every other person in the country.

By |2019-05-08T05:46:50-08:00May 8th, 2019|Categories: News|Tags: , , , , |29 Comments

Courtesy of NYT:

By the time his master-of-the-universe memoir “Trump: The Art of the Deal” hit bookstores in 1987, Donald J. Trump was already in deep financial distress, losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns.

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 numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.

In fact, year after year, Mr. 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. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years.

Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits.

This literally suggests that Donald Trump may have been the worst businessman in the country.

And yet people voted for him because they thought his business acumen would help him to make better deals for the country. 

As if this were not bad enough, and it definitely should be, Trump went on Twitter to defend himself this morning by essentially admitting to tax fraud. 

I like how Trump confirms the story is accurate right before he attacks it as “fake news.” 

I think now the importance of seeing the rest of Trump’s taxes is more important than ever. 

About the Author:

This blog is dedicated to finding the truth, exposing the lies, and holding our politicians and leaders accountable when they fall far short of the promises that they have made to both my fellow Alaskans and the American people.

29 Comments

  1. anonymous May 8, 2019 at 6:40 am

    https://www.rawstory.com/2019/05/cnns-toobin-asks-the-single-most-important-question-about-trump-tax-bombshell/

    “It cries out for more information,” “It’s wonderful reporting from the New York Times. It’s great they got the documents. They answer a lot of questions. But especially about his presidency… but what’s important to the country is where he’s getting his money now? Because that suggests where his loyalties are.”

  2. the 'RED' line May 8, 2019 at 6:50 am

    https://www.politicususa.com/2019/05/08/trump-blasts-report-on-his-business-losses-calls-accounting-a-sport.html

    During the period described, Trump said he was allowed massive tax write-offs for depreciation and many “non monetary” losses, adding the report contained “very old information.”

    “You always wanted to show losses for tax purposes … almost all real estate developers did – and often re-negotiate with banks, it was sport,”

    “Michael Cohen, however, told a House panel in February that rather than an audit being underway, Trump feared releasing the tax information could lead to an audit and penalties.”

  3. Anon May 8, 2019 at 6:56 am

    Trump responded in a tweet on Sunday vowing to raise tariffs on $200 Billion worth of Chinese goods from 10 to 25 percent on Friday – timed to land in the middle of a scheduled visit by China’s Vice Premier Liu He to Washington to continue trade talks. Trump’s tweets left no room for backing down, and Lighthizer made it clear that, despite continuing talks, “come Friday, there will be tariffs in place.”

    https://www.politicususa.com/2019/05/08/exclusive-china-backtracked-on-nearly-all-aspects-of-trump-trade-deal-sources.html

    P$. $200Billion I$ what Pooty’s worth…

    • MAGA May 8, 2019 at 7:32 am

      https://thinkprogress.org/trump-threat-tariffs-china-trade-deal-9d67cded3481/

      “I think Trump will back off,” Scott told ThinkProgress, noting that the president has made other threats that he has not followed through on, such as closing the U.S. border with Mexico – Both the United States and China “need this deal,” Scott added, and a trade deal will eventually happen, though probably not by the end of this week. Still, the damage, in many ways, is already done, with the tariffs largely backfiring.
      As the importer of baseball hats made in China told CNN, the $1 million order he’s already put in will be subject to the new tariffs should they go into effect.

      “It’s very difficult to understand what the president is going to do by a business perspective. To spring it on us all at once like this is a very poor judgment on his part,” Phil Page, the CEO of Missouri-based Cap America, told the news network. “It’s a fundamentally flawed economic strategy to think that we can solve our trade problems by bullying countries one at at a time into submission. And that’s essentially what he’s doing,”

      • @realDonaldTrump May 8, 2019 at 8:00 am

        President Trump Make America Great Again Hat

        Just cover shipping and we’ll send you a free #MAGA hat.

        The Trump Train 🚂 🇺🇸
        @The_Trump_Train
        Welcome to the #TrumpTrain, the greatest political movement in history. RT’d by POTUS! Contact:TheTrainContact@gmail.com *Pro-Trump fan account*

      • Anonymous May 8, 2019 at 5:52 pm

        Just saw on the nightly news that tomatoes are going up because of the tariffs on Mexico, that along with the decrease in immigrant farm workers, must be trump’s plans to MAGA by forcing all of us to grow our own food or eat the crap that he does.

  4. Anonymous May 8, 2019 at 7:07 am

    https://www.huffpost.com/entry/trump-old-tax-tweet_n_5cd23d64e4b0e524a47c9bdd

    This scolding is doubly delicious now that everyone knows:

    (1) Trump doesn’t pay income tax; and

    (2) He just slapped $22,000,000,000,000+ of crippling govt debt on America’s Chinese VISA card. #TrumpTaxes

    I don’t pay income tax. OK

    https://www.huffpost.com/entry/trump-biggest-loser-taxes_n_5cd24a89e4b07ce6ef77882c

    I demand this president show us his long-form WORTH certificate. #TrumpTaxes

    The myth of @realDonaldTrump as a successful businessman is over. The truth? He’s the largest loser in the IRS system, and the spoiled inheritor of his daddy’s real estate empire. #TrumpTaxes

    He was literally the biggest loser in the country!

    Bigger reported business losses than any other human being in the country.

    Trump. Is. The. Biggest. Loser. In. The. Country!

    • Hudson May 8, 2019 at 8:15 am

      Since he said it was all “sport” I bet he is very proud of this: in his mind, he probably sees himself is a real winner for having the most losses — something he was actually BETTER AT THAN anyone else. But, you do have to wonder if this info is truth or one of his alternative fact sheets? Another reason he does not want it to be public — the very real possibility he could be shown, not only to be a loser, but also a fraud when the forensic accountants get their hands on all this information.

  5. Anonymous May 8, 2019 at 7:19 am

    https://thinkprogress.org/trump-claims-1-billion-business-losses-were-sport-920960d760f8/

    The report also describes Trump’s attempt to brand himself as a corporate raider, profiting off of stock increases when he publicly suggested he would become a majority owner in a company, only to sell back the stock he’d bought to turn a profit. He made millions — that is, “until investors realized that he would not follow through.”

    https://thinkprogress.org/here-are-the-kleptocrats-and-crooked-foreign-politicians-whove-invested-in-trump-properties-460093120e48/

    From Azerbaijan to Indonesia, Kazakhstan to the Republic of Congo, allegedly corrupt foreign officials have parked their money in Trump buildings time and again. The ability to purchase high-dollar real estate via anonymous shell companies has helped an untold number of crooks and kleptocrats wash their ill-gotten gains and protect their wealth from prying eyes. This ability to park these stolen gains in Western real estate has been, unfortunately, perfectly legal over the past few decades. Trump and his business partners may have profited from the continued willingness of Western governments to permit foreign actors — arms dealers and narco-traffickers, dictatorial rulers and their cronies — to set up anonymous shell companies, skirt past anti-money laundering checks, and stash their money in New York or London or Paris. All of this was, for years, perfectly legal. Due to new requirements out of the Treasury Department, which reveals the identity of the actual owner of numerous purchases across certain cities in the U.S., the best days of laundering-via-real-estate in American real estate may be behind us. Arif’s Bayrock repeatedly helped fund Trump-linked projects, as multiple investigations have found. (Arif and the Trump Organization have denied any financial wrongdoing.) Arif’s continued ability to use Bayrock to keep Trump-linked properties afloat a decade ago raised numerous eyebrows, especially given that much of the source of his financing remained ultimately unclear — and much of which emerged from the notoriously corrupt former Soviet space. Even more notably, Arif’s Bayrock acted, as Bloomberg’s Timothy O’Brien wrote, as a “bridge” between Trump and Russian investors, accelerating the questions that continue to circle the president even after the completion of the Mueller report.”

  6. jt May 8, 2019 at 7:39 am

    The new watchword is “self-impeachable.”
    HA!

  7. anon May 8, 2019 at 7:39 am

    https://www.politicususa.com/2019/05/08/hysterical-trump-spends-an-hour-trying-to-distract-america-from-his-tax-returns.html

    tinydjt tweet>Big Court win at our Southern Border! We are getting there – and Wall is being built!
    5:42 AM – May 8, 2019

  8. NOW May 8, 2019 at 7:41 am

    Rep. Cohen said, “Why would he be financially dependent on the Russians? Well, we now know he lost over $1 billion over a decade in the ’80s and ’90s. He was broke. No bank would lend him a penny. If it weren’t for him being president, he would be in prison with Michael Cohen today as individual one, and he obstructed justice as the Mueller report says so. We are in danger. We need to respond. And we need to act for the people of the United States of America.”

    https://www.politicususa.com/2019/05/08/rep-steve-cohen-tells-republicans-trump-should-already-be-in-prison-during-barr-contempt-hearing.html

  9. Anonymous May 8, 2019 at 7:48 am

    The next time Nancy Pelosi or Chuck Schumer meet with Trump face to face they need to take a Secret Service Agent into the Oval Office and place Trump under Citizens Arrest because a felony was committed and that is the standard for a CA.

  10. #TRumpTaXXXe$ May 8, 2019 at 8:08 am

    https://www.rawstory.com/2019/05/billiondollarloser-americans-scorch-millionaire-at-birth-and-grifter-trump-for-decade-of-massive-loses/

    In case you missed it this morning, President Trump called tax avoidance a “sport,” and bragged about how good he is at it.

    Is this the person who best represents the middle class?

    Absolutely not!#BillionDollarLoser

    The real scandal is the fact that Donald Trump probably got to keep the tax losses that were actually suffered by other people, like his limited partners. There is absolutely nothing “self-made” about this grifter. #BillionDollarLoser

    FINALly, something Trump is actually “the best” at. #BillionDollarLoser #BiggestLoserDonaldTrum #BiggestLoserTrump #TrumpIsAFraud

  11. anonymous May 8, 2019 at 8:38 am

    https://www.politicususa.com/2019/05/08/trump-goes-into-hiding-after-his-tax-returns-come-out.html

    “Trump will be in hiding, and probably only be communicating by tweet because he believes that he is his own best communications person. The story on just one decade of Trump’s tax returns is devastating. It revealed a president who is not a stable genius, who is terrible at business and a man who raised taxes on the majority of working Americans”

    Trump’s answer is to play hide and tweet. See Anon@7:39

  12. birdbrain May 8, 2019 at 9:21 am

    Having dealt with real estate on my personal taxes, yes, you can have losses on your income tax from depreciation and repairs, etc. But only losses? Does he have to borrow money for maintenance, repairs, etc?

    I’d be very suspicious of a billion $ loss over 10 years. Hasn’t the IRS audited these claims?

    • Anonymous May 8, 2019 at 1:52 pm

      What maintenance and repairs? LOL, event the kitchen at Mar a lago has been cited numerous times for violations and morons are paying to join, he doesn’t pay his contractors , why would he pay for maintenance or he hires illegals and threats to turn them in to ICE if they want their pay check.

  13. Anon May 8, 2019 at 11:43 am

    https://www.politicususa.com/2019/05/08/fox-serves-the-cult-a-fresh-dose-of-kool-aid-by-selling-trumps-business-failures-as-success.html

    Ainsley Earhardt predicts that voters won’t care about Donald Trump losing historic amounts of money, year after year, because “he was campaigning on the trail with his plane behind him that’s as big as a Delta jet, with his name on it.”

  14. Anonymous May 8, 2019 at 1:49 pm

    Basically trump is just your everyday CON MAN and looking at the photo of his “home” he has no taste either. the emperor wears no clothes. He got away with ‘renegotiating ” loans by threatening bankruptcy, the rest of us probable ended up covering those bad loans. Also what he did in the stock market also may not be exactly illegal but certainly unethical.

    How did his support his extravagant and tasteless lifestyle..other than cheating on taxes, trust fund from daddy, seems like he would have blown threw all that money by now.. so I am presuming we the taxpayers are supporting him and his porn wife and family at this point. I am sure they are somehow charging us for the third wife’s $5000.00 blouses and other designer outfits as some kind of business expense or misc expense on her WH budget.

  15. Anonymous in Chicago May 8, 2019 at 2:31 pm

    So Trump said “…it was sport”. That sounds like fraud or tax evasion. What an idiot!

  16. Anonymous May 8, 2019 at 6:07 pm

    Wanna bet this is info is eating him up more than the fact he is traitor to his country, trump is a tax evader, fraud and con man. Just wait until the state of NY and NYC get a hold of his tax returns, oops they already have them, so how much did he defraud them? No wonder he is always being audited.

    You would hope that the light bulb would go on in the dim minds of trump supporters, they pay more in taxes and work harder than their cult leader. However i wouldn’t bet the farm on it. I kept hearing from the one trump supporter that trump is such a great businessman, that he will save our country.. well he is the worst

  17. ANON May 9, 2019 at 5:36 am

    “Trump’s Tax Leak Hints at Potential Fraud Investigations.” It’s Even Worse Than You Think: What the Trump Administration Is Doing to America.
    And he has just published a piece in The Daily Beast. It’s headlined Trump’s Tax Leak Hints at Potential Fraud Investigations. It begins,
    “The myth of Donald Trump the modern Midas who turns to gold all that he touches died Tuesday afternoon.”

    ” I’ve been saying and writing about Trump for 30 years: he is a terrible businessman. His business model is not to get an enterprise, to nurture it, to grow it, to make it more profitable over time. His business model is the same as a mob bust-out. Get your hands on an enterprise, squeeze all the cash out of it, don’t pay your vendors, try to cheat as best you can your employees, don’t pay the bankers—and Trump once said, “I borrowed money knowing I wouldn’t pay it back”—and then leave the carcass and go on to the next deal.

    That’s why the Art of the Deal is so significant in all of this, because Trump’s business model is to rip off one person after another who gets involved with him”
    “Donald is, after Bernie Madoff, arguably the greatest wealth destroyer in American history.” “The size of the losses, however, is stupendous. Much larger than I ever imagined.” “Trump reported one year almost $53 million of interest. – Did he report some income that was from some other source he was trying to hide as interest? And then the question would be, was it benign or nefarious?”
    “we know that Donald Trump was very deeply entangled with the international cocaine trafficker Joseph Wexelbaum. So deeply entangled and did so many favors for him that I’ve said, and I’ll say again, the only logical explanation for his conduct is that Donald was in the cocaine trafficking business with Joe Wexelbaum. And Donald, if you’re listening, sue me if you think you can prove what I just said isn’t true.”
    “He is a con artist. He’s a criminal. He is a fraud. And once the banks realized that they had been had, nobody would loan money to him anymore, except Deutsche Bank, which was the preferred bank for Russian oligarchs — that is the criminal gang around Vladimir Putin — to launder their money.”

    https://www.rawstory.com/2019/05/he-is-a-con-artist-he-is-a-criminal-he-is-a-fraud-david-cay-johnston-explains-why-trumps-business-model-is-the-same-as-a-mob-bust/

  18. aNOn May 9, 2019 at 5:50 am

    ” “Fox & Friends” hosts and Sen. Lindsey Graham praising President Donald Trump for losing more than $1 billion as a businessman.
    Trump’s allies praised the staggering losses as “impressive” and “part of his branding.” ” OK

  19. anonymous May 9, 2019 at 5:53 am

    ” “Fox & Friends” hosts and Sen. Lindsey Graham praising President Donald Trump for losing more than $1 billion as a businessman.
    Trump’s allies praised the staggering losses as “impressive” and “part of his branding.” ” OK-NOt

  20. Bee$Ting May 9, 2019 at 6:08 am

    “And that is why it was OK for him to take that man’s change cup,”

    https://www.huffpost.com/entry/samantha-bee-donald-trump-ivanka-trump-debt_n_5cd3d6a6e4b0a6cb31bd1bbb

  21. Anonymous May 12, 2019 at 9:26 pm

    I hear today that when Trump lobbied and lied to get on the Forbes 400 list, which at the time required that you have $100 million dollars in reality he only had about $5 million. That sounds about right for trump. He didn’t have all of the apartments he claimed and he didn’t control his Dad’s money and real estate like he claimed. Basically he has worked this con for over 40 years and like Madoff before him, his house of cards is finally falling down around his ears.

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