Donald Trump, the
President of the United States, is a fraud whose business empire is failing.
For years, the business
tycoon has cited that his business is flourishing. The narcissist has made many
statements regarding his business acumen – pretty questionable considering the
did a lot of great deals, and I did them early and young. And now I’m building
all over the world, and I love what I’m doing. I’m really proud of my success.
I really am.” – said Donald Trump in 2015.
His frame of success is
quite complicated as many of his professional ventures turned sour too soon.
The New York Times untangled his tax records and publicized his diminishing
finances and increasing debts on Sunday. Through these reports, much attention
was also given to how Trump’s father had a critical role in his business
His dirty laundry is
now out in the open so let’s discuss the major traps:
11 out of 18 times, the
man has gotten away without paying the income taxes. In 2016 and 2017 – the
year he got elected and officially entered the White House – he paid $750 as
the federal income tax. The master strategy to avoid taxes was also examined in
the formidable report. Apparently, business owners have the ability to go about
their businesses, avoiding taxes in the future years if their losses are larger
than the yearly income.
investigations have unraveled that some of Trump’s businesses are flourishing
and earning high profits. However, there are some businesses that are simply
burning large amounts of cash.
Apparently, his major business ventures are losing millions of dollars
every year;his golf courses, for example, have lost more than $350 million in
the past two decades.
This business empire
building that sits on Manhattan’s Fifth Avenue has earned a profit of more than
$20 million every year since 2000. In addition, his state towers in New York
and San Francisco also deliver top profits. However, the Trump International Hotel
in Washington DC isn’t doing as well as one would like it to be. The hotel was
inaugurated four years ago and has apparently made a loss of $55 million ever
Trump is open to
branding and licensing – his famous steaks and water bottles are an ode to his
love for himself, more like his narcissism. The New York’s Times has revealed
that this is his biggest business strategy, and that, it seems to be working
Remember when Trump
took the Oval Office and promised to not indulge in foreign businesses during
his tenure? Well, he lied. In fact, you’d be surprised to know that he
collected revenue of $73 million in the first two years of presidency through
his foreign businesses. This raises
questions regarding conflicts of interest. More than 140 of his companies are
currently doing business with 25 countries worldwide.
New York Times has published this report at a time that couldn’t be more
perfect,as the election is right around the corner! Do you want your President
to be a major tax fraud? Let us know through your vote!