It was inevitable that somehow, some way a Fake News outlet would get its grubby hands on the president’s taxes. Frankly, that it’s taken this long is somewhat of a miracle.
I’ll be honest with you — I really don’t care about Trump’s taxes. I don’t care what he made, what he lost or to whom he sold real estate. The truth is, neither do his enemies. Just as with every other “breaking news” story to come from the Failing New York Times and their fake news bedfellows, this is just another means of attack. And like every other transparent attempt to humiliate him before the nation, it will ultimately amount to jack squat.
Too bad failures such as those don’t appear in tax returns, or the NYT would be guarding theirs around the clock.
I’m not going to make your eyes bleed with tax information. I’m going to assume you care roughly as much as I do, which is to say “Give me the bottom line and move on.” So that’s exactly what I’ll do.
*GASP* Trump lost money!
This isn’t exactly classified info. Trump himself has been very straightforward about his hard times, which of course are covered in the years that were leaked (1985-1994). Funny how that works.
In fact, you may remember a book he wrote about his financial skids called The Art of the Comeback. If not, it’s available in virtually every bookstore nationwide, and explains things much more accurately than the current hit piece being bandied about the Fake News ecosystem.
According to the leaked transcripts, Trump lost about $1.2 billion from ’85-’94. His worst years appear to be ’90 and ’91, when business losses exceeded $250 million each year, which the Times loves to point out is more than twice those of the nearest taxpayer in the IRS information for the two years.
The reason for the losses is multi-fold. First off, there was a recession that hit the real estate market really hard. No one was spared, but Trump was hit especially hard as he had just invested a great deal in his efforts to come into his own in the business. Which he did, by the way. He even broke into the Manhattan market that his dad never could, but that’s another detail you won’t read in the Times.
Then there was some failed businesses that hemorrhaged cash. According to reports, Trump’s core businesses, including casinos, hotels and apartment buildings, accounted for $1.17 billion of his total losses. He tried a lot of stuff, some of it successful and some not. That’s true of pretty much every successful entrepreneur in the world. It’s just that most successful businessmen don’t have their 30-year old failures magnified in order to serve as a masturbatory aide for political enemies.
So that’s the first huge breaking news. President Trump lost a bunch of money in the 80’s and early 90’s.
Did you survive it? Remember, inhale and exhale deeply and slowly; we’ll get through this.
Trump didn’t pay taxes for a period of time!
Here is the other world-stopping story you simply must know.
Business owners like PDT —if they’re smart— may use their losses to avoid paying taxes on future income. Over the decade in question, Trump was able to roll his losses into a $915.7 million free pass, otherwise known as a net operating loss. This isn’t even breaking news to the NYT, as it appeared on his 1995 tax returns, pages of which were mailed anonymously to them during the 2016 campaign.
The newly-leaked tax info just goes into a little more detail, showing how Trump’s net operating losses snowballed from year to year, reaching $418 million in 1991.
Bottom line: PDT lost so much money that he was able to avoid paying any federal income taxes for eight of those 10 years. Nothing he did was illegal. He used the tax code to protect himself, just as 100% of everyone else does without hesitation.
This is a felony, ya know
The person who leaked this info better be slick.
Federal law makes it a crime for an IRS agent (or any other federal employee) willfully to disclose unauthorized tax returns. If an agent did indeed willfully leak PDT’s unauthorized tax return, he or she could be subject to five years in prison and a fine of up to $5,000. Upon conviction, federal law provides that he or she would also lose his or her job.
Technically his tax returns themselves weren’t released, just a transcript of the information contained therein. But that doesn’t matter, as the information is protected regardless. Whoever released this info clearly had access to the returns, which means they’re likely employed by the IRS. I know for a fact that federal agencies are able to track every computer move of its employees. Indeed, every federal employee consents to monitoring by the very act of logging in to a work station (I have some experience in this realm).
I know AG Barr is busy investigating leaks to the media by the #PutinGate perpetrators, but I hope he’ll turn his laser-like focus on this for a moment. Whoever did this needs to be nailed to the wall, or it will send the exact wrong message across the agency. Set the example now, sir. Unless the culprit is a real criminal mastermind, their electronic fingerprints should be trackable within a day. Simply run an audit (you people are good at that, right) to see who accessed the president’s files.
Let’s keep this simple. The tax information will give coochie-cappers red meat to gnaw on for a while, until some other failing outlet grabs their attention with a new political hit.
It’s just another in a long line of attacks against a man they just can’t leave alone. They spend every waking moment thinking of new ways to bring him down, but still he stands. And his approval rating is climbing, thanks to the economy the “huge business failure Trump” has overseen. If we were in the throes of recession, this would actually be a powerful political attack, as it would confirm an image already being projected from the White House. But we’re not, and it won’t be.
The narrative over the next days and weeks will be that Trump was lying all along, that he’s actually a horrible business man and thus one of the main reasons many voted for him is now null and void. That will be the strategy until, like all the others, it falls impotently by the wayside upon meeting the Teflon Don.
PDT will tweet something to show off his beautiful (and seriously expensive) golf courses and resorts, his voters will retweet it just to spite their liberal family members and the show will go on as usual.
This is all so tiresome.
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