THIS IS BREAKING NEWS AS U TYPE. The New York Times has just broken the news of the ultimate October Surprise. They have personally seen 20 years of Donald Trump’s tax returns. Teri is reading the Times article and feeding me as I go along, so we’ll start with the highlights, and I can fill more later as updates.
Here are the top line highlights. In the first two years of his presidency, Trump paid $750 a year in taxes. In 2018, he must have shot his wad, as he paid no federal taxes whatsoever.
But it’s the previous years where the shit gets real. In 10 out of the last 15 years, Trump paid no taxes whatsoever. Per the NY Tomes
He has paid no income taxes at all in 10 of the previous 15 years- largely because he reported losing much more money than he made.
And that’s just the tip of the iceberg. The problem has clearly become systemic for Trump, as in the very next paragraph, the Times goes on to state
As the President wages a reelection campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions in debt coming due that he has personally guaranteed. (it mine) Also having over him is a decade long audit battle with the Internam Revenue Sercice over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declatring huge losses. An adverse ruling could cost him more than $100 milliom.
I’m sure that this news is about to bring howls of protest from Trump, and most of it aimed at the Manhattan District Attorney’s office, which recently got permission from the Supreme court to obtain 20 years of his taxes. Their one saving grace may be that they didn’t actually release any official tax forms for publication, and certainly the Times will refuse to name any sources that may have given them access.
This is a godsend for Vice President Joe Biden’s campaign, mainly because it will allow him to use the information to continue to blow holes in Trump’s carefully crafted persona that he is one of, and for the little guy.
As I said, I will try to get through more of the article myself, and will post updates with any more relevant information. But after all of these years, the lid is finally off of the can, and the worms are turning. While we may not actually see the forms for a while, if ever, we now nonetheless conclusively what a world class fraud Donald Trump really is. It was worth the wait.
A couple of more things of particular interest here, before my eyes give out for the night. The New York Times goes on to point out further in the article that during Trump’s term of celebrity in The Apprentice, he was paid $427,2 million including licensing and endorsement fees. But he sank almost all of that into businesses, mostly golf courses, that as the years have gone on, have turned into spigots for red ink. Which led the Times to point out something that a lot of us have known for years, but more likely with this new information
Indeed, his financial condition when he announced his run for president in 2015 lends some credence to the notion that his long-shot campaign was at least in part a gambit to reanimate the marketability of his name.
The other thing to point out, in all farness, since I have it in front of me, is the President’s response to the reporting. By the vagaries of journalistic timing, this report hit just as the President was finishing up a long winded, whiny, petulant press briefing at the White House. The press corps was able to question him on the revelations, to which his response was classic Trump, It’s fake news. Pure and simple, nothing more and nothing less.