At worst, it occurred to Trump that his tax return was made public

A New York TimesHe managed to get what the entire American press, the Democratic Party, various Congressional committees, and the New York prosecutor had been waiting in vain for. Donald trump tax return. That shouldn’t have been that important. America’s presidential candidates have been regularly publishing their tax returns since the 1970s so that American voters can see that they have nothing to hide.

Trump, who is unconventional in many ways, also changed this habit, as he refused to publish his tax return and, in fact, actively fought to prevent it from appearing in public. So he started years of speculation about what he might want to keep so secret.

The Times did not publish detailed tax returns, claiming to protect the resources of those who “took a great risk” by turning them over to the newspaper. The journalists who dealt with the case worked on it with such secrecy that even their immediate colleagues did not know it. THE Times So far, he has published only a roundup of top successes and said more articles could be expected in the coming weeks.

Trump doesn’t really pay taxes, in exchange he’s terribly in debt

Tax returns revealed that Trump pays little to no federal taxes, is heavily in debt, loses a great deal of money, is being investigated by tax authorities for questionable refunds, but in return gains a lot from the presidency.

• In 2016, when he was elected president, and in 2017, the first year he was president, he paid only $ 750 (roughly $ 250,000) in federal taxes, and none in 11 of 18 years.
• The tax authority has been investigating a questionable tax refund since 2011, when it received a refund of $ 72.9 million (HUF 22 billion). If the tax authority is right, it will have to return one hundred million dollars (31 billion guilders).
• It has a debt of 421 million dollars (130,000 million HUF) that it should pay in the next few years.
• Since the early 2000s, his golf courses have generated more than $ 315 million in losses, while his hotel, which opened in Washington in 2016, has lost $ 55 million.
• Since his presidential campaign, his Florida golf club’s revenue has increased by $ 5 million a year thanks to new members.
• In the first two years of his presidency, he received $ 73 million (HUF 22.7 billion) in foreign investment income, including $ 3 million (HUF 930 million) from the Philippines, $ 2.3 million (HUF 720 million) from India and $ 1 million ($ 310 million) from India. million) from Turkey.

Also, other interesting facts were revealed in New York Times from the article.

• More than $ 70,000, or roughly $ 22 million, was spent on Trump’s hair, at least as much as an expense on his tax return when The newbie starred in the reality show.
• His daughter, Ivanka Trump and almost one hundred thousand dollars (31 million guilders) for her hair and makeup.
• A Florida photographer received $ 210,000 to photograph events at the Mar-a-Lago Golf Club in Florida, or about $ 65.5 million.
• Between 2011 and 2018, Trump wrote off $ 26 million in expenses from his tax as consulting fees. THE Times Part of the consulting fees in question was paid to Ivanka Trump while she was working as a manager at the Trump family business.
• He paid more taxes abroad than in the United States: In 2017, when he contributed $ 750 to the United States federal government, he and his companies paid more than $ 150,000 in the Philippines, $ 145,000 in India, and more than $ 15,000 in Panama. they paid a thousand dollars in taxes.

Trump reacted exactly as expected

Just a few minutes ago an article about your tax return was published. Times for his part, when the president of the United States had already held a press conference where he declared that everything was “completely false news, fiction, false.” He said he paid “a lot of taxes,” including state taxes in New York.

An attorney for Trump’s company called him a suspect in a statement as to why the article had just been published so close to the presidential election, then added: “This is just another misleading writing about Times expiration campaign “. Alan’s Garden Trump has paid tens of millions of dollars in “personal taxes” over the past decade, but Times and others have drawn attention, it is not equal to income tax.

At his press conference, Trump reiterated what he has been saying for years that he would be very happy to publish his tax return, but he cannot because the tax office is investigating him.

Why didn’t you disclose your tax return?

Trump has been using the tax authority’s investigation since the 2016 presidential election as a reason not to disclose his tax returns, which all U.S. presidential candidates have done for the past nearly 50 years. In 2014, he said he would “of course” go public and “want to” if he ran in the presidential election and then took an increasingly defensive stance. As early as 2015, he said, he would post, “if necessary”, and then by the end of the year, he had already said, “consider it.” In early 2016, he announced that we were “working on it,” then “probably sometime” and later that he would decide on the issue “in the next few months.”

Finally, at the end of February 2016, it stated that it could not reveal it due to an investigation by the tax authority and would later publish its statement after it was closed. He has insisted on this argument ever since. However, there is no legislation prohibiting Trump from publishing his tax return under investigation, the IRS announced in 2016 that there is no such prohibition, anyone can do it at any time. This is what all the presidents who have released their mandatory tax returns have done so far.

In addition, Trump actively prevented his tax return from being made public and was therefore willing to even go to the US Supreme Court after various congressional committees and the New York prosecutor’s office requested it. Over the summer, the Supreme Court rejected the arguments of Trump’s lawyers that a president is not required to file a tax return, but at the same time returned the case to the first instance to decide on some more detailed matters there.

What do you want to keep secret?

For the past five years, one of the great mysteries of American political life has been why Trump opposes it, raising the question of what he wants to hide. Here are some options:

• Trump, who claims to be a billionaire, fears his wealth will be much less.
• It turns out that you pay little or no tax.
• It turns out that he does not give anything for charity, and what he gives is only to have to pay less taxes.
• Try to disguise how he was linked to organized crime.
• He keeps his connections to Russia secret.

A Times However, there is not a word about organized crime in the article, and the newspaper even noted that no new information on Russian relations was found. Also, the documents do not show exactly how much wealth Trump has, the newspaper wrote.

Who does Trump belong to?

A Times He highlighted that most of the $ 421 million debt that Trump would have to pay over the next four years to his creditors, who would have to make an unprecedented decision to seize the assets of a sitting president. Meanwhile, the Forbes editor of business magazines, Dan Alexander, who wrote a book on Trump’s dealings, posted on his Twitter page in aggregation concluded that Trump might actually owe more than a billion dollars.

However, the biggest unanswered question is who still owes the President of the United States hundreds of millions of dollars and what his creditors do if he cannot pay. No wonder the Bloomberg has already called Trump a “national security risk” and one of The Lincoln Poject’s founders, an anti-Trump conservative, Reed galen and writes that his creditors can even blackmail the president of the United States.

What impact will it have on the presidential elections?

Five weeks before the November 3 presidential election, the bigger question, of course, is what impact the whole thing will have on the vote. Almost everyone is certain that Trump will not lose a single believer in the Times As a result of your cover story, because they either consider it fake news or don’t care at all, they might react like Trump in a 2016 presidential candidate debate in which he claimed he only shows his skill and cunning if he managed to avoid paying taxes. .

Yet Trump, who has only been able to win with extremely tight results for four years, will need every vote to win again this year, and will find it difficult to attract new voters by failing to pay taxes, losing his businesses and huge debts.

the ABC News According to opinion polls, only five percent of voters did not decide Joe bidenre or will vote for Trump, so this revelation now and in the coming weeks is unlikely to put Trump in favor of still-insecure voters.

Biden’s campaign quickly began to seize the opportunity that fell into his lap. They’ve already posted an ad on their Twitter page comparing Trump’s income tax to the size of the average income tax for nurses, firefighters, and teachers.

Teachers paid $ 7,239
Firefighters paid $ 5,283
Nurses paid $ 10,216

Donald Trump paid $ 750 pic.twitter.com/5YE1cbYsBN

– Team Joe (Text JOE to 30330) (@TeamJoe) September 28, 2020

And new stickers are already selling on the campaign website with the caption “I paid more income tax than Donald Trump.”

Joe Biden has not responded personally as of Monday afternoon. Times as vice president-designate, Kamala harris sem. However, Biden will have a chance to confront Trump with his tax-paying habits when the US presidential candidates hold their first televised debate on Tuesday night, where the issue will no doubt come up.

Featured image: Olivier DOULIERY / AFP