The Damage Report
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Trump SWEATS After Surprising Tax Return Red Flags Revealed
Posted
December 22, 2022
Views
100,165
Likes
3,332
Comments
647
Engagement
3.97%
December 22, 2022
100,165
3,332
647
3.97%
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7:08Now PlayingDonald Trump's tax returns are finally released to the public which proves major red flags over shady payments, massive losses and embarrassing claims. John Iadarola and Brett Erlich break it down on The Damage Report.
Read more here:
Trump’s TaxesRed Flags, Big Losses and a Windfall From His Father
"At first glance, the income-tax data released this week by a House committee seems to show a turnaround in 2018 for former President Donald J. Trump. After a decade in which he declared no taxable income, his 2018 return reported taxable income of more than $24 million. He paid nearly a million dollars in federal income taxes.
In fact, his year in the black appears to have resulted largely from the final windfall of the vast inheritance that financed much of his business career — more than $14 million in gains from the sale of his father’s 1970s investment in the Brooklyn housing development of Starrett City.
But precedent soon reasserted itself. Because of business losses, he paid no income taxes in 2020, his last year in the White House.
That year, after obtaining more than two decades of Mr. Trump’s tax returns, The New York Times traced the boom-and-bust arcs that had marked his financial history: dubious tax avoidance, huge losses and a life buttressed by an inherited fortune. The newly released tax information, from 2015 to 2020, shows how that pattern extended through his years in Washington."
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