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Trump had the biggest financial loss in America — and used it to get out of paying 8 years of taxes: report

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On Tuesday, The New York Times released information obtained from ten previously unaccounted-for years of President Donald Trump’s tax returns from an IRS source.

According to the Times, “Mr. Trump appears to have lost more money than nearly any other individual taxpayer, according to the I.R.S. information on high earners.” His core businesses reportedly lost $250 million a year between 1990 and 1991, due in part to his disastrous decision to buy his own airline — losses more than double those of taxpayers with similar holdings.

Moreover, Trump apparently used these losses “to avoid paying taxes on future income,” banking hundreds of millions of dollars worth of “net operating losses” that allowed him to completely skip paying income tax for eight years. In fact, his operating losses accounted for fully 1 percent of all taxable income in the United States that was exempted from IRS collections this way in 1991.

While this new information is a bombshell, the actual tax returns themselves are still concealed and many sources of income for Trump remain unknown.

Trump has fought tooth and nail to keep his tax returns hidden, even though presidents from both parties over the last 40 years have generally disclosed at least some of this information to the public. House Democrats have recently invoked federal law to demand the Treasury Department furnish his returns to Congress, which Treasury Secretary Steve Mnuchin has defied.

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‘Washington is no longer functional’: Brian Williams admits he’s sad to report that ‘our government is broken’

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MSNBC anchor Brian Williams on Tuesday reported that America's federal government is broken.

"This was day 908 of the Trump Administration and while there is no joy in it, one way of summing up today is this: Our government’s broken, our politics are broken, Washington is no longer functional, and the cracks in our society are deepening," Williams reported.

"Much of this day was taken up by the discussion of racist statements by the president. Then tonight came the news that had so many people thinking back to when we were different, the death just tonight of retired Supreme Court Justice John Paul Stevens at the age of 99," he said.

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Trump ignored being condemned by Congress and instead praised Republicans on Twitter for defending his racism

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President Donald Trump celebrated on Tuesday night despite the House of Representatives having voted earlier in the day to condemn his racist statements.

By a final vote of 240 to 187, Congress voted for a resolution saying, "Trump’s racist comments have legitimized fear and hatred of new Americans and people of color.”

The resolution said Congress “strongly condemns President Donald Trump’s racist comments that have legitimized and increased fear and hatred of new Americans and people of color by saying that our fellow Americans who are immigrants, and those who may look to the President like immigrants, should “go back” to other countries, by referring to immigrants and asylum seekers as “invaders,” and by saying that Members of Congress who are immigrants (or those of our colleagues who are wrongly assumed to be immigrants) do not belong in Congress or in the United States of America.”

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The tortured madness of Donald Trump: It’s clear the president is out of his mind

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Where’s Shakespeare when we need him? Only the Bard of Avon could do literary justice to the tortured madness of Donald Trump, who fluctuates between petulant self-pity and weird self-praise.

His brags are especially weird because they usually involve achievements he hasn’t made. It’s as though his saying something makes it true — even though everyone except his most naive devotees can clearly see that he’s either hallucinating or lying. In June, for example, at a rally launching his reelection campaign, he retrumpeted an old campaign promise to “drain the swamp,” assuring the adoring crowd that “that’s exactly what we’re doing right now.”

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