New York Times has
unveiled the truth that we always knew – Donald Trump is a haphazard
businessman and a serial bankruptcy artist with more stuff in his mouth than he
The critical news was
publicized on Sunday evening – disclosing years of tax returns. According to
the report, Trump only paid $750 in federal income taxes in 2016, and this was
the year he got elected as the President of the United States. He paid the same
amount the next year, the year he formally stepped in the White House. And in
the years after that, he hasn’t paid a single penny of his own.
Donald Trump is the
same man who paid his daughter consulting fees in abundance which he deducted
as a business expense – she was only helping him manage the Trump Organization.
This isn’t where the list ends; Trump has taken tax write-offs for his hair as
well as to manage his personal residential expenses.
This evidence says a
lot about the man who currently occupies the Oval Office.
To start off, his
indebtedness and dependence on income from overseas is a threat to national
security. If the man gets elected again, the problem will only escalate. These
tax returns simply elaborate how Trump has repeatedly betrayed the interests of
American citizens, even the ones who support him.
As per the recent
report, Trump has a debt of $421 million which he has guaranteed that he will
return in the coming years. This is separate from the personal debts that he
carries. According to Russ Choma, Trump’s debts are approximately $500 million,
and that he has made arduous efforts to hide them from public. Dan Alexander
has been covering Trump’s business interests since 2016 and he has revealed
that his total debt may round up to $1.1 billion.
Trump has been lying to
us all along – he’s not actually worth $10 billion like he claimed back when he
got elected. Yes, he may be with a fraction of that amount, but the more his
debts increase, his worth lessens and the strain on his personal assets
And believe it or not,
the pandemic has actually harmed his businesses – real estate, travel, and
leisure. The three sectors of businesses were nullified during the lockdown. To
meet his debts, Trump would have to sell his assets or ask friends for fund to
get a bail. But it seems unlikely that he would sell any of his assets – since
he isn’t a fan of selling personal assets.
Apart from his personal
debts, it’s essential to realize that avoiding tax payments is also a crime –
an alarming evidence for the Trump supporters. If you remember that back in
2017, Trump and the Republican Party had formulated a massive tax cut which
turned out to be advantageous for the affluent Americans.
Let’s take a moment to
remember that Trump criticized Obama for paying “only” $161,950 taxes in 2012.
We do think that Trump has outdone himself on hypocrisy!