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Donald Trump’s orange hairstyle is an expensive affair for the American taxpayer: According to an investigation by the “New York Times”, the real estate mogul deducted more than $ 70,000 for the hairstyle of his hairstyle during the running time of his program “The Apprentice “. And even after moving into the White House, a host of cancellations and losses ensured that Trump was largely spared from the tax authorities. According to the newspaper, it has not transferred a penny to the Federal Tax Agency in eleven of the 18 years. In the year he won the election and in his first year in office, the man who boasts to his supporters that he is “really rich” paid $ 750 each.
Unlike the presidents before him, Trump persistently refuses to release his tax returns. On Sunday, two days before the first television debate with challenger Joe Biden, the “New York Times” enforced transparency. The newspaper has fiscal data for the Trump empire with around 500 companies spanning two decades, and two conclusions can be drawn from the disclosures:
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Donald Trump, who sells himself to voters as a talented businessman and self-made billionaire, is not as successful as he claims
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or has Tax avoidance art exhausted to the end at the expense of the American treasury.
The newspaper’s research suggests that it is a combination of both factors. After all, one of the New Yorker’s business ideas initially paid off:
Self marketing. Her reality show “The Apprentice” and royalties for using her name totaled $ 427 million. Trump reinvested the money, preferably in golf courses, which, however, rarely turned out to be profitable. In 2015, his financial position was apparently so precarious that the New York Times confirmed a presumption that had emerged after Trump’s surprising election victory in 2016: that he wanted to increase his own weak market value with the candidacy.
“False,” Trump complains. But he still refuses to give numbers
Trump himself called the report “a total falsehood” Sunday night and claimed to have paid “a lot” of taxes, especially in New York state. However, with reference to an ongoing tax audit, he again declined to provide figures. “You treat me terribly, (the tax authority) IRS terribly,” he had recently complained.
The New York Times explains what this tax audit is all about: In 2010, Trump received a “quick” from the Treasury, a short-term tax refund, which is granted subject to increased scrutiny. He owed the gift primarily to a tax reform by the Obama administration, which had expanded the possibility of recovering losses after the financial crisis. In total, Trump received a refund of $ 73 million. You are still arguing with the tax office as to whether the payment was correct.
The newspaper’s investigation casts doubt not only on Trump’s tax compliance, but also on his ability as an investor. And they shed light on his conflicts of interest as president.
Your funders are likely to be particularly excited about the outcome of the presidential election. According to the newspaper, he is personally responsible for a debt of 421 million dollars. Most of this will have to be paid off in the next four years.
