Fox News praises Trump for hiring such good accountants to clean up his business incompetence
President of the United States Donald Trump speaking at the 2017 Conservative Political Action Conference (CPAC) in National Harbor, Maryland. (Gage Skidmore/Flickr)

The bombshell report in The New York Times documenting President Donald Trump losing over a billion dollars in his failed business ventures and writing off his losses to pay zero income tax for eight years is, by all accounts, a damning picture of the president.

But according to Fox News' Marc Thiessen, it's actually cause for praising Trump — because it proves his skill in hiring accountants.

"I always thought that the reason why Donald Trump doesn't want his taxes released is nothing to do with any corruption or illegality,” he said on "The Story with Martha MacCallum," to guest host Ed Henry. "It's because they are going to show he is not as rich as he says he is. Because when you do your taxes, your incentive is to minimize your income as much as possible to pay the least amount of taxes. So Donald Trump has the best accountants in the world. They're going to organize his finances in a way to minimize his income."

To reiterate, the Times report suggests Trump was only able to reduce his tax burden because his businesses were hemorrhaging money every single year for at least ten years, and he could count these "net losses" against his income. This may well mean he has good accountants, but it does not make Trump a smart businessman.

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