Skip to content
Search AI Powered

Latest Stories

Trump Just Tried to Discredit the New Exposé on His Taxes, but Instead He Accidentally Admitted to Tax Fraud

Trump Just Tried to Discredit the New Exposé on His Taxes, but Instead He Accidentally Admitted to Tax Fraud
Saul Loeb/AFP/Getty Images // @eljimperor/Twitter

Classic.

Some of President Donald Trump's tax transcripts have gone public and the president's attempts at spinning the staggering losses he incurred are being laughed out of the room.

A blockbuster report by The New York Times revealed on Tuesday that Trump, who for decades touted himself as a New York real estate mogul, "was already in deep financial distress" at the time he published The Art of the Deal, "losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns."


Trump squandered a sobering $1.17 billion between 1985 and 1994, Russ Buettner and Susanne Craig wrote in their exposé, which they noted is "more money than nearly any other American taxpayer" in those years.

"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 I.R.S. information for those years," the Times found. "Overall, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits."

Moreover, the Times noted:

"Mr. Trump was able to lose all that money without facing the usual consequences — such as a steep drop in his standard of living — in part because most of it belonged to others, to the banks and bond investors who had supplied the cash to fuel his acquisitions. And as The Times’s earlier investigation showed, Mr. Trump secretly leaned on his father’s wealth to continue living like a winner and to stage a comeback."

Predictably, on Wednesday morning, Trump started making excuses on Twitter and dismissed the Times report as "a highly inaccurate fake news hit job."

Trump saying that "you always wanted to show losses for tax purposes" is striking some people as a tacit confession to tax fraud.

This is exactly why Congress must obtain Trump's tax returns - and why Trump is terrified of that happening.

Busted.

The jokes came rolling in, and Twitter did not disappoint.

Ouch.

The hashtag #BillionDollarLoser was soon trending on Twitter.

Let us not forget where Trump was getting his money around that time, either.

After a string of bankruptcies in the early 1990s, Trump's shredded credit made him unworthy of obtaining credit from American banks, forcing him to turn elsewhere - specifically, Russia.

"For more than three decades, at least 13 people with known or alleged links to the Russian Mafia held the deeds to, lived in or ran criminal operations out of Trump Tower in New York or other Trump properties," Craig Unger wrote in The Washington Post in March.

"I mean that many of them used Trump-branded real estate to launder vast amounts of money by buying multimillion-dollar condos through anonymous shell companies. I mean that the Bayrock Group, a real estate development company that was based in Trump Tower and had ties to the Kremlin, came up with a new business model to franchise Trump condos after he lost billions of dollars in his Atlantic City casino developments, and helped make him rich again."

Nevertheless, Trump's 'successful billionaire' television persona is now thrown into even more uncertainty. Granted, he could simply release his tax returns to clear up any confusion. The problem is, he cannot prove a lie.

More from News/political-news

Kit Connor
Karwai Tang/WireImage/GettyImages

Kit Connor Is Rumored To Be Top Choice For Gay MCU Superhero—And 'Heartstopper' Fans Are So Into It

Fans of Heartstopper were absolutely chuffed and crossing their fingers after hearing rumors that British actor Kit Connor was being considered to play a known LGBTQ+ superhero in the Marvel Cinematic Universe.

The 20-year-old has been acting since he was just 8 in numerous TV and film projects, including roles in the 2018 films The Mercy, and The Guernsey Literary and Potato Peel Pie Society. He also portrayed a teenaged Elton John in 2019's Rocketman and voiced Pantalaimon in the HBO fantasy series His Dark Materials.

Keep ReadingShow less
yellow smiley face balloons
Tim Mossholder on Unsplash

People Explain Which Things Massively Improved Their Mental Health

It wasn't that long ago that mental health was only spoken of in hushed whispers due to ignorance and stigma.

But with education and awareness efforts, more people are paying attention to their own mental health and that of the people they care about.

Keep ReadingShow less

People Who Turned Down A Marriage Proposal Explain Why They Said 'No'


Keep ReadingShow less
Screenshot of J.D. Vance
C-SPAN

JD Vance Got Laughs With A Cringey 'Political Violence' Joke During His RNC Speech

Former President Donald Trump's running mate J.D. Vance was criticized for appearing to make light of the recent assassination attempt on Trump's life during his speech accepting the vice presidential nomination at the Republican National Convention.

At one point, Vance joked about "political violence" between Ohio and Michigan supporters while discussing some of his life experiences before officially starting his political career with a successful 2022 Senate campaign.

Keep ReadingShow less
Screenshots of Kamala Harris and J.D. Vance
C-SPAN; NBC News

Kamala Harris Calls Out JD Vance For 'What He Didn't Say' During RNC Speech In Epic Takedown

In a fiery speech to supporters in North Carolina, Vice President Kamala Harris called out what J.D. Vance—former President Donald Trump's freshly selected running mate—"didn't say" in his speech accepting the VP nomination on Night 3 of the Republican National Convention.

Amid much talk about key conservative issues like immigration, the ongoing border crisis, and "law and order," he did not once mention what the GOP has explicitly laid out and is now attempting to distance itself from: Project 2025.

Keep ReadingShow less