Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017, after he became president, his tax bill was only $750.
He has reduced his tax bill with questionable measures, including a $72.9 million tax refund that is the subject of an audit by the Internal Revenue Service.
Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.
The financial pressure on him is increasing as hundreds of millions of dollars in loans he personally guaranteed are soon coming due.
Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television.
Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill.
As president, he has received more money from foreign sources and U.S. interest groups than previously known. The records do not reveal any previously unreported connections to Russia.
Trump dismisses the report as "fake news."
60 comments:
The Trump Organization is a complete and total grease fire. The only Fake News is the narrative that Donald Trump is/was a successful businessman. What should piss everyone off, and I mean everyone, including the fucking dork's with their flags n hats, is that if ANYONE else attempted to do what Trump has done, the IRS would have destroyed our lives over a couple grand in back taxes, while Trump has just played hide and seek for 20 years.
50% of our taxes pay for our defense and healthcare, and Trump has contributed next to nothing to the military he says he's done so much for.
The Times has fudged in other anti-Trump stories in the past. Just another hit job on election eve. But don't remind taxpayers that Trump has donated his entire salary to federal agencies. That's $1.6 million over 4 years.
I read the above-the-fold editorial on the front page of The Call but didn't read any citing of sources. Did the original New York Times revelation tell us where this information came from?
10:32, He's been exposed as a billionaire deadbeat who has avoided paying taxes for years. This means nothing to you because you have become one of his mankurts, an unthinking slave. To those who still have their brains intact, this is devastating.
Wednesday AM, we'll all be talking about the fact that Biden seems coherent and lucid, was able to convey facts and figures in a clear and concise manner which will come as a surprise to most of America expecting him to flop and fumble the debate and from that being reminded what a real President should look and sound like.
Over the next few weeks, bombshell after bombshell will be dropped on Trump in a well coordinated effort to chip away the fringes of his base and knock down the few remaining undecideds. In between those bombshells will be continued endorsements for Biden from establishment Republicans.
Good Tax Attorneys will find every loop hole in the Code to reduce their clients taxes. Maybe you need a better tax preparer. Every Corporation in America is doing the same thing. The IRS do not have enough highly trained tax attorneys to audit all these big businesses. Congress won't close the loop holes because of the big money they get from business people like trump and the big corporations.
Good Tax Attorneys will find every loop hole in the Code to reduce their clients taxes. Maybe you need a better tax preparer. Every Corporation in America is doing the same thing. The IRS do not have enough highly trained tax attorneys to audit all these big businesses. Congress won't close the loop holes because of the big money they get from business people like trump and the big corporations. I'm sure you would do the same thing if you could.
I think we need to wait to see if his returns were calculated in accordance with tax law. If so, then the blame resides in Congress (which has abdicated its responsibility for at least 10yrs).
If he is a deadbeat, then he goes to jail.
But how ‘bout we deal with facts instead of saying “It’s Trump therefore it’s a crime.”
Just a thought.
@10:32 - The average FOX News viewer has no respect for the NYT and many news organizations make mistakes here and there. That said, others outside the FOX Sphere do pay attention to other media outlets, so unless the NYT has completely and utterly made up his tax returns, this will damage Trump as he needs to bring in voters outside of his base - aka people who don't automatically view the NYT or Washington Post as "Liberal Rags". See what happened to Romney back in 2012.
As for donating his salary the last 4 years, the report highlights his repeated use of Trump owned properties for Presidential purposes, which more than covers the $1.6M you cited.
Say? What's the article just published about Biden and taxes? OOOOhhhhhh!!!!??? Its not Bernie's favorite site so it won't make the his blog.
https://www.breitbart.com/politics/2020/09/28/joe-biden-allegedly-exploited-s-corporation-loophole-to-avoid-paying-medicare-social-security-taxes/
Just because you take a tax deduction doesn't mean it's legitimate. The IRS is there, in part, to police that system.
Once he gets voted out of office, I think Trump's going to have a difficult time of it.
He'll deserve every bit of it.
Mankurt at 10:59, Whether Trump committee a crime is a question for others. The question for us is whether we will re-elect a man who clearly is incapable of running a business and who routinely thumbs his nose at his tax obligation. Some patriot.
Your answer, "thumbs his nose at his tax obligation," assumes he's guilty. I'd like to see the proof first, then if he's guilty string him up by the short hairs.
It's not patriotic to pay more tax than you have to. Bernie Sanders reinforced that with the profits he made on his book deal; he was asked why he didn't voluntarily pay more tax, and he responded appropriately. And I didn't begrudge him that profit, he earned it.
I don't deal in guesses or assumptions. Let's see all the facts and go from there.
"Your answer, "thumbs his nose at his tax obligation," assumes he's guilty. I'd like to see the proof first, then if he's guilty string him up by the short hairs."
Mankurt at 11:50, It makes no such assumption. It's quite clear. Whether it is tax evasion (illegal) or tax avoidance (arguablly legal or illegal) ius a question for another venue. But there is no doubt he avoided his tax obligation. There is also no question he does not know how to run a business, and the evidence is the mounting losses and his serial debt. Those are facts. You seek to make excuses bc you are an unthinking mankurt.
"Say? What's the article just published about Biden and taxes? OOOOhhhhhh!!!!??? Its not Bernie's favorite site so it won't make the his blog."
Mankurt at 11:09, Biden has posted the last three years of his tax returns on his website for public review. Hew has been transparent. Trump is not.
You forgot to mention the Times stated Trump followed the law and had no Russian money connections. He also paid $750 more than Jeff Bezos. I never thought much of Trump the businessman. Always thought him a huckster with ego problems. That ego has led him to supposedly "come to the rescue" on development projects that are losers that smart developers wouldn't touch. I like when he berates the corporate press and draws the ire of neocons for getting us out of the perpetual war business. I don't like much else. But peace vs war is pretty important.
Besides the fact that the article shows he does not know how to run a business, let us not forget one more broken promise which was the claim that he was going to get rid of all those tax loop-holes he knows so well in exchange for the huge tax reduction for the wealthy. Not one loop-hole closed.
Trump is a risk to our national security, period! He can't be trusted, period! His loans given to him by foreign countries proves it!
He only took advantage of the tax breaks you stupid DEMOCRATES gave for their own benefit. I know was was a stupid Democrats for 56 years and got smart. Not the same party I had belonged to.
What is so impressive about losing money every year? And you can keep that going only so long even with smoke and mirrors.
You lose $100 million here and $100 million there and pretty soon you're talking real money. Trump's empire is bound to collapse.
Trump took out a loan for none figures and, eight years later, has paid only the interest.
Uh-oh.
As expected here come the excuses and spin...
"The Times has fudged in other anti-Trump stories in the past. Just another hit job on election eve." = Rationalizing - aka - "They don't like my daddy" .
"Good Tax Attorneys will find every loop hole in the Code to reduce their clients taxes. Maybe you need a better tax preparer." = Deflection
"I think we need to wait to see if his returns were calculated in accordance with tax law. If so, then the blame resides in Congress (which has abdicated its responsibility for at least 10yrs)." = Deflection
"What's the article just published about Biden and taxes?" = Distraction
The brainwashed flag and hat brigades will not be swayed! Trump is their One True God and they will ALWAYS LOVE HIM no matter what!
Trump after becoming president does not draw income from the Trump organization, as president he donates his salary to charity, so he had no income and didnt need it, since the government provides him security, housing, transportation, healthcare, food and a staff to prepare and a large entertainment account.
I would bet he spent less on vacation and travel than Obama and his entourage. Also the Obamas left office multimillionaires and Trump will leave office poorer.
As before president, I am sure he has the best accountants who leave no stone upturned in saving on taxes, just like everyone else with money.
Just more old worn out bullshit that will amount to nothing. it will provide talking points for the left for another 3 days until the next attempt.
Wait till it is revealed that every tax law that trump used to minimize his taxes, has a positive vote from old Joe himself.
So what. Robert Mueller’s Russia probe cost nearly $32 million in total. The 911 commission's budget was 15 million. 40 million was spent to investigate Clinton's oral sex habits.
Amazon doesn't pay any tax either along with a bunch of other corporations, career politician, Biden included, passed the laws that make it all possible.
Boeing just looted 60 billion in fake virus cash. If you confiscated all Trumps cash and holdings and Hunter Biden's too, it wouldn't amount to drop of water in the covid ocean of waste and theft.
Anyone who figured out a way to "not pay their share" for bullshit like this has my vote.
Bombshell NYT story on Trump tax returns shows that he received a $3.5 million wire transfer from a corrupt Russian tied to Vladimir Putin. Oh wait ....
IF the New York Times has authentic copies of his personal IRS tax returns, then someone there committed a crime. IF Trump’s corporate tax returns were filed using legal tax strategies, he’s done nothing wrong.
All that counts is were the tax filings legal? If anyone doesn’t like the results of his legal filings, too bad.
The 16th Amendment is bullshit.
https://givemeliberty.org/features/taxes/notratified.htm
Look what career politicians like Biden have done to us.
Nobody should be paying income tax.
11:50 AM "Bernie Sanders reinforced that with the profits he made on his book deal; he was asked why he didn't voluntarily pay more tax, and he responded appropriately"
Yup Sanders got it right..just think ..had Hillary Clinton not cheated in the 2016 democratic primary boxing Bernie out, we'd have 3 Sanders SCOTUS appointments and my guess is Trump and alike would be paying more taxes today and you would have healthcare free at the point of service.
@11:08. All that was asked was to cite a source. We see over and over again the media attaching "without proof" or "without evidence" to things Trump says but the NYT can come out with no proof, no evidence, no source and you accept it as absolute truth. Maybe it is or maybe it is not. Maybe it is legal and in accordance with the law or maybe it is not. I will wait for the truth rather than accept the NYT article presented without evidence or proof.
He said it’s Fake, so easy fix, release them!
He won’t so that leads us to believe it’s true!
He continues to have his supporters make excuses for him! Most Americans know he’s conned us!
Yes he didn’t take a salary, but the bills the US Secret Service, and others who stay in his Hotels are billed to the American public! Much more profit than he’s Presidential Salary! Smoke and Mirrors! I see it, can you?
Wake up and smell sanity and sense!
Wall Street Journal reports the Bidens used an s corp loophole to avoid payroll taxes. Must have been Jill's idea because Joe can't count past eleven without whipping it out. There's no law against overpaying one's taxes. You check a box on your return and stroke a check. But nobody ever does.
NYTimes: Trump paid millions in taxes, broke no laws, and owes Russia nothing.
There, Bern. Fixed your headline for you. When will you start throwing mud on ACB? It's been two days and she's Catholic and has black kids and all that bad stuff..... {{{taps watch to see if it's working}}}
I’m sure Trump uses some of the best Accountants found anywhere in the world. These are highly reputable firms who understand our Tax Code in every way possible. Not very likely those firms would sign their names to fraudulent, illegal documents.
When someone carries forward real estate losses, together with the usual everyday deductions, returns like this are very normal. And, why should anyone be required to pay more than what they are legally required to pay? Do any readers of thIs Blog send in extra money to the IRS?
I wouldn’t call this New York Times hit piece Fake News, just a Fake charge of inappropriate conduct. Correction to follow several days latter, back on Page 53. The headline served its purpose by getting a rise out of the Democrat masses.
How did they get access to private information? If they did, then you and I are not safe. Think about it people. Wake Up America!
"I would bet he spent less on vacation and travel than Obama and his entourage. Also the Obamas left office multimillionaires and Trump will leave office poorer."
What does this have to do with Trump's failure to pay his taxes? And you'd lose that bet. Trump has vacationed more, a lot more, than Obama.
"m sure Trump uses some of the best Accountants found anywhere in the world. These are highly reputable firms who understand our Tax Code in every way possibleZ"
I'm sure he does not. As a deadbeat, reputable firms have learned to get it up front or keep him at a distance.
"How did they get access to private information? If they did, then you and I are not safe. Think about it people. Wake Up America!"
We are not safe and won't be until Trump is gone.
" When will you start throwing mud on ACB? It's been two days and she's Catholic and has black kids and all that bad stuff.."
Another attempted diversion.
My jaw drops in awe as the Trump minions continue to believe their snake oil salesman is the next Messiah. He's a liar, a cheat, a coward, and a fraud, but his base continues to wave Trump flags, actually thrilled at the notion he won't leave his office in a peaceful transfer of power.
The dumbed down America consisting of conspiracy theorists and fools has found a home with the GOP.
Not a big Trump guy but it appears he did nothing illegal and followed the existing tax laws. You can write off real estate losses. Amazon does the same thing and pays zero in taxes. Not sure what the big deal is here as long as no laws were broken.
It's easy to tell if a woman supports Trump. She has an ass big enough to land a helicopter on
and has enough tatoos to pass as a circus performer. She usually rides a motorcycle and wears a Harley hat.
Mankurts, I refuse to post any more comments that do not deal directly with Trump's failure to pay taxes or the massive debt he's facing. That is the subject of this post. Stick to it.
@10:30 AM. I'm sure your gal Lois Lerner at IRS looked the other way rather than going after Trump for these egregious violations. You are clueless as to the federal tax regulations applicable to construction contractors and developers so you best do some research before shooting your mouth off. Also check on whether his dog rode on the roof of his plane while on his trips to the Kremlin. Your language along with the absence of any substance in your comments puts you at the bottom of your class in anger management for juveniles. Grow a pair!
Bernie, you must consider not paying taxes, that aren’t due in the first place, to be some kind of failure. I sure don’t see any logic in such a belief. Trump was successful in paying the precise amount required.
How can one fail at an act one never attempted? An act that was never expected of you, or anyone else, can have no stamp of obligation that must be met. There can be NO failure in that.
To make it personal, I ask, “ Why did you, Bernie, FAIL to win the 1968 Olympics Medal in the High Jump?
the lincoln project said it best
"He pays next to nothing in taxes and then he uses our money to go golfing.
Did I get that right?"
Biden and Obama changed rules and made it easier for those who understand the tax laws and provide an extra time frame in their legislation. And they had pins t-shirts and bumper stickers all ready for the news. .. amazing
What diverting funds to an S Corporation be illegal to avoid payroll taxes?
I get such a chuckle at the responses that use a Trump’s “donated” salary as some kind of example of his generosity. Ridiculous! I’m sure Trump is writing that donation as a deduction. When you work in the 501c3 world you learn that donors are motivated by self interests, especially large donors. Whenever CEOs “donate” it’s generally to reduce tax debt. Lisa Scheller is trying this scam locally.
Not sure why, but I'll bite. Any of you trump turds realize this is just cheating? How many of you get to state your income when you file taxes? If you could how truthful would you be?
It's not that trump is bad a business, he's just a flat our liar. You cannot live his lifestyle while losing that much money.
The payment of personal income tax today is just part of the equation in contributing to the good of society. Tax breaks typically do not eliminate the tax burden , it just pushes the tax burden off into the future. They will have to be paid , it just allows Trump to invest that money now and make more money. Interest free! But look at the other issues and tax streams that are created. First property taxes, then there are the taxes all the employees pay. I take advantage of many deductions as well reducing my tax burden. For example, I have close to $200,000 in depreciation on real estate property. What this means is I can make $200,000 now tax free. But I will have to recapture that gain when I sell the property, but at a lower tax rate. And I know someday I will pay the piper and so will he.
How about all the property taxes he has to pay as well. When that school tax rolls in for my properties I start to shake. I pay over $120,000 a year in various property taxes. And those you can’t offset with anything, there are no loopholes for that unless you are in a special taxing district like what JB Reilly has set up in Allentown. I’m sure Trump doesn’t have many of those though. So personal income taxes are just part of the equation. But Bernie, what the heck would you know about paying taxes especially property tax. I believe you live under a rock which is not a taxable event.
Loses on depreciation of real estate investments can be carried forward and used in the computation of taxable income in future years. There is NOTHING illegal in doing this. It’s very common.
Don’t you think, with so many Obama Administration operatives still in place at the IRS the IRS would have nailed Trump before his first term?
Do you actually believe if Trump did something criminal that the IRS, or DOJ, etc. would wait until 4 weeks before this election to indict him?
Far better to have used this claim (if factual) much earlier than now. At this point, there is not enough time to prove Trump guilty of anything in a court of law.
This is mud slinging, and nothing more, at this point.
TYT had a great explanation for the tax breaks and why tRump is such a security risk. He is an absolutely horrible business man. The only two things he ever made a profit on was one property which another company managed and the Apprentice for which between the two he made over 500 million. Problem is he blew it all thru being a horrible business man by losing money on every other investment and property he owns. Just as he lost the 400 million his pop gave him. So his not paying taxes is justified because he is losing money by the truck load. Now he owes and must pay back a 400 million within 4 years. So what is a bungling con man to do? No one could reason why he would side with Turkey or Saudi Arabia, or Russia against our generals advice (including Mad Dog who resigned over the move abandoning our staunch allies, the Kurds) . Well it turns out some of part of the answer is how countries like Turkey, Saudi Arabia, India, and others not only paid for rooms at his hotels but paid for the use of the Trump brand name. What makes this so sly is the bribe is legally harder to prove no matter how obvious. If he would have rented a normally priced $500 room to Turkey for $500K it could be pointed at as an obvious bribe. But how much is the use of a name worth? Apparently many millions of dollars to the countries listed who have suddenly curried favor with our huckster prez. So who does he owe the 400 million to and how much should we worry about him selling out the country even more to save his incompetent ass? Don't be surprised if he rents Pennsylvania avenue for a Russian tank parade.
The Piper is coming for Trump and $400M within the next 4 years.
Do we really want a debtor on that scale in the White House?
Foreign Creditor: "Hey Donnie, we'll knock down some of that interest on your loan if you let us do this or that inside the US legal system... And, if you could do us another slightly bigger, this or that, maybe we could even forgive some of the principal there too..."
A question remains did Trump receive a "stimulus check" based on his reported negative earnings?
All big business and corporations have the best tax attorneys. They also make politican contributions to insure some loop holes are included in the tax laws to be in their favor. Why do you think Congress men and women are receiving these politican contributions. If you think it is about good government, I have bridge for sale.
@7:47 Actually many people get to state their income when they pay taxes like those who are self-employed or don't otherwise get a W2 or whose income isn't otherwise required to be reported to the IRS. Most, I would guess, would be truthful. The IRS has many methods to discover those who are not being honest and have a list of penalties it can impose on those who are not truthful. But the IRS in its many audits has not found, since it has imposed no penalties, that Trump has been untruthful. Even the Times article has not implied any question of illegal activity. It is tax evasion that is illegal not tax avoidance which is taking advantage of the rules built into the tax code that are available to all taxpayers.
September 29, 2020 at 11:56 AM Anonymous said... The IRS has many methods to discover those who are not being honest and have a list of penalties it can impose on those who are not truthful. But the IRS in its many audits has not found, since it has imposed no penalties. that Trump has been untruthful.
How do you know that?
Have a link that supports your supposition?
Of course all of this could be easily cleared up if Trump simply released his taxes like everyone before him
It’s apparent that with what was released, most of you have no clue how to read, interpreter , or understand the implications. I give my bankers my tax returns and every year I still get asked the same dumb ass question. These are bankers and this is all they do which is review tax returns. I tell the bankers —-you figure it out, you want answers, it will cost you $500 per answer, so write them out and ask away. And I’m just a local yokel investor with $10 m in real estate investments.
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