President Donald Trump has continued to refuse to release his tax returns, but The New York Times obtained ten years of documents that paint a damning picture.
"In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years," the newspaper reported. "Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years."
Not only did Trump not pay federal taxes, but he is also being investigated for dodging state taxes.
"In New York, the attorney general’s office is investigating the financing of several major Trump Organization projects; Deutsche Bank has already begun turning over documents," the newspaper reported. "The state attorney general is also examining issues raised last year by The Times’s investigation, which revealed that much of the money Mr. Trump had received from his father came from his participation in dubious tax schemes, including instances of outright fraud."
While Trump had not paid federal taxes for eight of the ten years in question, he later went on to criticize people in 2012 for not paying federal taxes.
HALF of Americans don't pay income tax despite crippling govt debt... http://t.co/gDAUj0Kt— Donald J. Trump (@Donald J. Trump)1330027174.0