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Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses
Written by <a href="index.php?option=com_comprofiler&task=userProfile&user=50742"><span class="small">Russ Buettner and Susanne Craig, The New York Times</span></a>   
Wednesday, 08 May 2019 08:13

Excerpt: "Newly obtained tax information reveals that from 1985 to 1994, Donald J. Trump's businesses were in far bleaker condition than was previously known."

Mr. Trump with his first wife, Ivana, and household staff at Mar-a-Lago in Florida. (photo: Ted Thai/The LIFE Picture Collection/Getty Images)
Mr. Trump with his first wife, Ivana, and household staff at Mar-a-Lago in Florida. (photo: Ted Thai/The LIFE Picture Collection/Getty Images)


Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

By Russ Buettner and Susanne Craig, The New York Times

08 May 19

 

y the time his master-of-the-universe memoir “Trump: The Art of the Deal” hit bookstores in 1987, Donald J. Trump was already in deep financial distress, losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns.

Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. 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, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.

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+10 # BetaTheta 2019-05-08 09:16
What a con man. His sole talent turns out to have been losing other people's money. As for what he did "build," virtually all of it was vanity projects catering to people with too much money (often questionably obtained) or to fleecing others who had little: Luxury apartments, golf courses, and casinos. As for being a "job creator," he all too often stiffed those who worked for him.