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The New York Times has obtained tax returns from President Donald Trump and his companies for the past more than 20 years. In short, they revealed that, compared to public image, Trump is not a successful businessman for profit, but an investor who mourns ongoing losses, racks up hundreds of millions of dollars in debt, and thus Generally, you do not pay taxes. Here are some specific examples from Trump’s giveaways:
Mix of income and benefits
Among other things, Trump refrained from disclosing his tax returns, claiming they weren’t really interesting anyway, since his annual asset returns, which are mandatory for the president, provide a much more accurate picture of his financial situation. The Times has revealed just how misleading they were: In 2018, for example, Trump reported a profit of $ 434.9 million. However, according to his tax return, he had a loss of $ 47.4 million that year.
Amazing costs
The tax returns do not reveal the exact reason and the structure of costs and expenses, but it is striking that Bedminster Golf Club’s expenses have increased fivefold from 2016 to 2017. It was in 2016 that the businessman-politician said he was also smart because he could avoid paying taxes.
President vs businessman: how he became vulnerable to Trump, the president is the clients of businessman Trump
One of the key features of the New York Times presentation is that Trump, a financially distressed businessman, needs so much income that he regularly comes into direct material business contact with various lobbyists, foreign politicians, and businessmen who want to meet with him as president. . So many such figures signed up as members at his golf club in Mar-a-Lago, Florida in 2015 that their membership fee increased by $ 5 million. One of the Christian organizations that provided its political inside, the Billy Graham Evangelistic Association in 2017, has to do with $ 400,000 in rented rooms at Trump’s Washington Hotel. When he was elected president, Trump promised that, as America’s foreign policy chief, he would no longer do business abroad. According to Times documents, the first two years of his presidency generated $ 73 million in foreign revenue. And while most of the amount comes from golf courses in Scotland and Ireland named after him, he has received millions of dollars from authoritarian or geopolitically sensitive countries like the Philippines ($ 3 million), India ($ 2 million) and Turkey ($ 2 million). 1 million). million).
I was taxing more abroad than at home
While he paid $ 750 in income taxes in his country in 2017, the president and his companies paid $ 15,598 in Panama, $ 145,400 in India, and $ 156,824 in the Philippines.
In competition with Nixon
It’s a curious coincidence that Trump’s $ 750 tax payment is about the same as the $ 793 tax President Nixon paid in 1970 on his annual income of roughly $ 200,000. This small amount of taxes at the time caused such outrage that it became customary for US presidents to publish their tax returns.
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