Business

The New York Times’ most shocking revelations cover Trump’s taxes

Trump paid $ 0 in federal income taxes for 11 of the 18 years studied by The Times.

3 min read

The New York Times’ most shocking revelations cover Trump’s taxes
The New York Times’ most shocking revelations cover Trump’s taxes

This story originally appeared on Business Insider

In a powerful report on President Donald Trump’s taxes, published by The New York Times Numerous financial metrics stood out as particularly damaging on Sunday, from a controversial income tax refund of $ 72.9 million to a stream of funding from overseas sources.

These are the most shocking facts revealed in Trump’s tax filings, as reported by The times::

  • Trump only paid $ 750 in taxes in 2016 and 2017.
  • in the 11 of the 18 years checked by The times, Trump card no income taxes paid to the federal government.
  • In his first year as president, Trump or his companies paid more taxes India (($ 145,400), Panama (($ 15,598) Y. Philippines (($ 156,824) than the United States.
  • Since 2000, he has lost more than $ 315 million on the golf courses he owns and promotes. Last October, Trump attempted to bring the Group of 7 summit to Trump National Doral, his course near Miami, before giving up on the idea.
  • From 2016 to 2018, Trump reported losses of $ 55.5 million at the Trump International Hotel Washington, DC. Even before his inauguration, there were ethical concerns about the stay of foreign dignitaries in the hotel and events that the federal government could possibly fund.
  • Trump’s campaign and presidency have been fantastic for business in Mar-a-Lago, Trump’s own resort in Palm Beach, Florida. From 2015 to 2018 there was an increase in membership, and the president was able to receive $ 26 millionor nearly three times your usual amount of historical property over the same period.
  • In 2010, Trump received a tax refund from $ 72.9 million which is checked by the IRS. You received the sum after claiming large losses. However, if you lose your appeal with the IRS, you will have to pay more than $ 100 million to the federal government.

Trump made millions of dollars starring “The Apprentice” from NBC, but revenue streams from this successful franchise and other licensing deals are dwindling. In the coming years must cover 300 million loans.

Despite his shaky finances, Trump has still led an opulent lifestyle and declared tax deductions on personal expenses, including a litany of expensive homes and planes. He also canceled more than $ 70,000 in payments to style his hair meanwhile “The Apprentice“.

Trump made millions from foreign licensing deals. From 2017 to 2019, it received $ 3 million from the Philippines, $ 2.3 million from India, and $ 1 million from Turkey.

Has $ 73 million from abroad during his first two years as President.

The Times has promised additional articles from Trump’s tax returns in the coming days and weeks.

Similar Posts