Over the past decade banks have forgiven about $287 million in loans from Donald Trump, after he failed to repay the debts. Not only did Trump benefit from banks approach to his failing businesses, a New York Times bombshell report reveals, but it appears the President failed to pay taxes on the forgiven loans, which the IRS sees as income.
“Big banks and hedge funds gave him years of extra time to repay his debts,” the Times reports. “Even after Mr. Trump sued his largest lender, accusing it of preying on him, the bank agreed to lend him another $99 million — more than twice as much as was previously known — so that he could pay back what he still owed the bank on the defaulted Chicago loan, records show.”
The New York Attorney General is reportedly now looking into those debts and filings, which the Times says are primarily tied to a 92-story Chicago skyscraper known as the Trump International Hotel & Tower.
A previous New York Times report reveals Trump paid just $750 in taxes in 2016 and 2017, and nothing in taxes for a 15-year period surrounding those dates.
Next year about $400 million in Trump’s debts reportedly come due.
Read the entire Times report here.
Biden’s lead in Milwaukee increases after Trump blew millions on Wisconsin recount: report
President-elect Joe Biden's lead over Donald Trump in Wisconsin extended on Friday as Milwaukee finished their recount.
The Trump campaign had to pay $3 million for the recount in Wisconsin.
"Milwaukee County concludes its recount of the presidential election -- one of two counties where Trump sought a recount in Wisconsin. The results: Biden's lead, currently at about 20,000 statewide, grew by 132 votes," Rosalind Helderman of The Washington Post reported Friday.
Edward-Isaac Dovere of The Atlantic did a quick, back-of-the-envelope economic analysis.
Utah Republican accuses Dems of ‘cheating’ in Georgia Senate runoffs — but his hometown paper doesn’t buy it
A Utah Republican is facing backlash after accusing Democrats of “cheating” in the two January runoff elections in Georgia that will determine control of the United States Senate.
The Peach State will be holding two runoff elections on January 5th. There is a special election, with interim Sen. Kelly Loeffler (R-GA) being challenged by the Rev. Raphael Warnock. In the other race, Sen. David Perdue (R-GA) is being challenged by Democrat Jon Ossoff.
In a fundraising appeal posted to social media, Rep. Chris Stewart (R-UT) accused Democrats of cheating in the race. But his hometown newspaper, The Salt Lake Tribune, noted there was no evidence to support his accusations.
Trump legal team mocked after attacking Trump-appointed judge for being part of the ‘activist judicial machinery’ in Pennsylvania
Jenna Ellis, President Donald Trump’s personal attorney and the Senior Legal Adviser to the Trump campaign is once again being mocked, this time for her near-immediate response to a unanimous 3-0 ruling against the campaign in a Pennsylvania election case.
Ellis says she and Trump personal attorney Rudy Giuliani, have decided that the three judges, who were all appointed by Republican presidents – including the one who wrote the opinion who was appointed by Trump himself – are all part of the “activist judicial machinery” in Pennsylvania.