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REVEALED: Trump tax report details how president’s best source of income came from lying to the press

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President Donald Trump’s political career has been defined by his constant pattern of lying. His business career also saw success when he would lie, The New York Times bombshell report on the president’s taxes revealed.

The report detailed staggering loses for Trump after multiple failed business ventures.

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However, Trump did find a way to make money. Not by constructing buildings or managing casinos, but by lying to the press.

“As losses from his core enterprises mounted, Mr. Trump took on a new public role, trading on his business-titan brand to present himself as a corporate raider. He would acquire shares in a company with borrowed money, suggest publicly that he was contemplating buying enough to become a majority owner, then quietly sell on the resulting rise in the stock price,” The Times explained.

However, the tactic lost power as people came to distrust Trump’s public statements.

“The tactic worked for a brief period — earning Mr. Trump millions of dollars in gains — until investors realized that he would not follow through,” The Times added. “As with many things Trump, his adventures in the stock market were more image than substance, helped greatly by news reports quoting anonymous sources said to have knowledge of Mr. Trump’s actions.”

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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Twitter mocks ‘gibbering conspiracy loon’ Trump after he claims Google rigged the election

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On Monday, President Donald Trump made the dubious claim that Google had tried to sway the election for Hillary Clinton.

"My victory was even bigger than thought!" the president proclaimed.

Wow, Report Just Out! Google manipulated from 2.6 million to 16 million votes for Hillary Clinton in 2016 Election! This was put out by a Clinton supporter, not a Trump Supporter! Google should be sued. My victory was even bigger than thought! @JudicialWatch

— Donald J. Trump (@realDonaldTrump) August 19, 2019

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Paul Krugman hilariously roasts Trump economic adviser for decades’ worth of terrible predictions

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Nobel Prize-winning economist Paul Krugman on Monday set his sights on Trump economic adviser Larry Kudlow, who himself is not actually an economist, for making decades' worth of terrible predictions.

Writing on Twitter, Krugman concedes that making predictions is a difficult business and he admits to making his own bad predictions in the past.

However, he then explains that Kudlow is unique because he's been making the same false prediction for decades -- namely, about tax cuts for the ultra-rich producing economic miracles.

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Twitter admits China has created hundreds of fake accounts to undermine Hong Kong protests

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Twitter on Monday admitted that China had created hundreds of fake accounts aimed at undermining the protests in Hong Kong that have gripped the city in recent weeks.

Specifically, Twitter found that at least 936 different accounts had been created within the People's Republic of China that have been "deliberately and specifically attempting to sow political discord in Hong Kong, including undermining the legitimacy and political positions of the protest movement on the ground."

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