CNN's Toobin asks the single most important question about Trump tax bombshell

CNN legal analyst Jeffrey Toobin on Wednesday said that new bombshell revelations about President Donald Trump's massive business losses in the late 1980s and early 1990s open up new questions about his current sources of income.

During a panel discussion on the New York Times' report about how Trump managed to lose $1 billion over the span of a decade, Toobin said that this information should only embolden Democrats to keep seeking the president's past tax returns.

"It cries out for more information," Toobin said. "It's wonderful reporting from the New York Times. It's great they got the documents. They answer a lot of questions. But especially about his presidency... but what's important to the country is where he's getting his money now? Because that suggests where his loyalties are."

Toobin also found it amazing that Trump was able to lose all this money and still live like a wealthy tycoon, which he said suggests that it was other people who were feeling the pain of his own failures.

"He kept living like the billionaire he pretended to be," Toobin said. "Why didn't he feel any of the pain of losing this money? Why is it other people who had to sacrifice -- the famous contractors and subcontractors he didn't pay. But he never suffered at all!"

Watch the video below.