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During 10 years of doing businesses from 1985 to 1994, Donald Trump declared lost in 8 years for more US$ 1 Billion so he was avoided paying income taxes
Tuesday, May 07, 2019
VietPress USA (May 7, 2019):Why Donald Trump hides his Tax returns when Congress and public asked him to show. He hesitated that his income taxes are still in audit. The House now decides if any candidates for presidential election in 2020 must show tax returns for 5 years.''
Today the New York Times reported that Donald Trump's businesses lost a total of more than $1 billion from 1985 to 1994 so that he was able to avoid paying income taxes for eight of the 10 years, the Times said.
Read this news from Reuters on Yahoo News at:
https://news.yahoo.com/trump-tax-returns-1985-1994-show-1-billion-004626062--business.html
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Trump tax returns from 1985 to 1994 show $1 billion in losses: NY Times
WASHINGTON (Reuters) - U.S. President Donald Trump's businesses lost a total of more than $1 billion from 1985 to 1994, according to the New York Times, which said it obtained printouts from Trump's official Internal Revenue Service tax transcripts.
The newspaper said Trump posted losses in excess of $250 million in both 1990 and 1991, which appeared to be more than double any other individual U.S. taxpayer in an annual IRS sampling of high-income earners.
Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years, the Times said.
Over the 10 years, Trump's core businesses, including casinos, hotels and apartment buildings, lost $1.17 billion, according to the newspaper.
The White House did not immediately respond to a request for comment.
The Times quoted a lawyer for the president, Charles Harder, as saying the tax information was "highly inaccurate."
Trump, a real estate magnate who turned over the running of his businesses to his sons after his election in 2016, touted his business acumen and negotiating skills on the campaign trail.
Trump broke with a decades-old precedent by refusing to release his tax returns as a presidential candidate in 2016 or since being elected, saying he could not do so while his taxes were being audited.
On Monday, U.S. Treasury Secretary Steven Mnuchin refused a request by the Democratic chairman of the House of Representatives Ways and Means Committee for Trump's tax returns.
Democrats want Trump's tax data as part of their investigations of possible conflicts of interest posed by his continued ownership of extensive business interests, even as he serves as president.
(Reporting by Eric Beech; Editing by Rosalba O'Brien)
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