The following article, New York Times Goes Full ‘Resistance’ with Trump Tax Docs, was first published on Flag And Cross.
For years, we have been hearing about Donald Trump’s tax returns.
We’ve heard that they’re under audit. We’ve heard that they would otherwise be released. We’ve heard that there’s nothing to learn from them.
We’ve heard a lot of things.
But that hasn’t stopped congressional democrats from attempting to unearth the documents in recent weeks through subpoenas and legislation. This fight has gone all the way to the treasury department, with head Steve Mnuchin just the other day defying the requests from Congress directly.
The New York Times was somehow able to procure similar documents to those requested, and have published their findings.
The data — printouts from Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.
The numbers show that Trump’s bold business dealings weren’t entirely successful.
The numbers show that in 1985, 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, 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 IRS 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 IRS information for those years.
While the figures may be staggering to some, Trump’s fortune is built upon the concept that “scared money don’t make none”.
Furthermore, given the glut of other attack being leveled at the President in 2019, these alleged “revelations” aren’t likely to moe the needle on his approval ratings.
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