In 2016, Donald Trump became the first presidential candidate notorious for withholding his tax returns.
His adamant refusal to comply with congressional demands of releasing his tax information raised many red flags and confirmed our suspicions that the then-real estate mogul was always a fraudster and a terrible businessman.
The New York Times obtained the self-professed billionaire's previously unreleased tax information and reported that "year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer" between the years 1985 to 1994.
BREAKING: @nytimes has Trump tax returns from 1985-‘94 showing “year after year, Mr. Trump appears to have lost mor… https://t.co/3Ig2CA3a4Q— Chris Jansing (@Chris Jansing)1557270922.0
The Times received the tax information from someone who had legal access to Trump's returns and matched the data to figures in the public database of IRS information on top earners.
Additionally, Trump's core losses totaled more than $250 million each year in 1990 and 1991, according to IRS tax transcripts.
The same reporters from the newspaper wrote in October that Trump “participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents."
Because he lost so much money, Trump avoided paying income taxes for eight of the ten years, as mentioned by the Times.
"Mr. Trump lost so much money [in the same decade when he published The Art of the Deal] that he was able to avoid… https://t.co/BjN1q0oSQ8— Robert Maguire (@Robert Maguire)1557271186.0
If only there were some way for Trump to clear this up once and for all 🤔 https://t.co/3HlzGca0F4— Robert Maguire (@Robert Maguire)1557271739.0
One particularly interesting Trump tax mystery: In 1989, Trump reported $59.2 million in interest income, despite t… https://t.co/H2tYGt6jte— Robert Maguire (@Robert Maguire)1557273448.0
New @nytimes exclusive: Trump tax return data from IRS record reveals fullest info on @POTUS’s taxes to date—showin… https://t.co/n0WwXhnTdA— Anna Massoglia (@Anna Massoglia)1557272545.0
Twitter is hardly surprised.
@ChrisJansing @nytimes Thanks for the breaking news from 25 years ago!!! Coming up next: BREAKING NEWS! In 1969 we landed on the moon!— Preaus (@Preaus)1557282911.0
The New York Times get its hands on Trump’s tax returns from the mid-80s to the mid-90s and...Trump was hemorrhagin… https://t.co/YqFt0Llmfw— Matt Fuller (@Matt Fuller)1557270618.0
But the revelation doesn't make it any better.
@justinhendrix It's like we've elected President Fyre Festival.— ALO (@ALO)1557288995.0
@MEPFuller The CON Is The Art Of The Deal— LiNC😷LN PARK (@LiNC😷LN PARK)1557282166.0
@annalecta @nytimes @POTUS @russbuettner @susannecraig @maggieNYT This is unreal but not unsurprising. The same rea… https://t.co/EPcEDXTpyW— Shannon *Happily Vaccinated* (@Shannon *Happily Vaccinated*)1557311787.0
The only man who could bankrupt a business rigged in favor of the proprietor.— Noah Rothman (@Noah Rothman)1557269956.0
The Times also got their hands on Trump's 1995 tax information revealing his loss of $916 million during the 2016 presidential election.
They added that his massive deductions "could have allowed him to legally avoid paying any federal income taxes for up to 18 years."
On Wednesday, Trump defended his actions on Twitter, explaining:
"You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport."
Then he added his signature dig at the newspaper for their reporting on outdated and "highly inaccurate Fake News."
On Saturday, Trump's lawyer Charles J. Harder called the tax information as reported by the Times "demonstrably false" and added that the statement "about the President's tax returns and business from 30 years ago are highly inaccurate."
On Tuesday, Harder told the Times:
"IRS transcripts, particularly before the days of electronic filing, are notoriously inaccurate" and "would not be able to provide a reasonable picture of any taxpayer's return."
@elJimperor @realDonaldTrump I knew that his ego wouldn’t allow him to let this go and he would either have to admi… https://t.co/HhWxojYHb7— ReclaimedHome (@ReclaimedHome)1557313510.0
As we head towards 2020, now we need incentive? Catch up, folks.