Did Trump Just Inadvertently Admit To Committing Fraud To Avoid Paying Taxes?
Donald Trump, who was propelled to the presidency, in part, by a self-spun narrative of business success. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition.
The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts — shows Trump lost $1.17bn from real estate ventures between 1985 and 1994 and paid no income tax for eight years.
The news coming at a time when his treasury secretary Steve Mnuchin was already under fire for refusing to release his boss’s tax returns for 2013 to 2018, setting up what promises to be a bitter legal battle with Democrats.
Trump on Wednesday reacted by branding the story “A highly inaccurate Fake News hit job!” But his ranting tweet reveals that he probably committed fraud to avoid paying taxes.
….you would get it by building, or even buying. You always wanted to show losses for tax purposes….almost all real estate developers did – and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!
— Donald J. Trump (@realDonaldTrump) May 8, 2019
Yup, Trump just admitted to showing loses in his tax form to avoid paying taxes.