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Trump's Tax History: Spectacular Levels of Loss

I'm a loser
And I'm not what I appear to be

The New York Times has obtained information from Donald Trump's tax returns for 1985 to 1994 (not the returns themselves) and matched them up against an open database maintained by the IRS. The amounts he claimed as business losses are gargantuan by any standard.

The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.

In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years.

Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years.

[More....]

The documents obtained by the Times include " printouts from his official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, from someone who had legal access to them."

Whoever the leaker was he or she goes back a long way with Trump:

In fact, the source of The Times’s newly obtained information was able to provide several years of unpublished tax figures from the president’s father, the builder Fred C. Trump. They matched up precisely with Fred Trump’s actual returns, which had been obtained by The Times in the earlier investigation.

Maybe someone will nickname him "little dodger" on the campaign trail and at debates.

Donald Trump's base of under-informed voters have bought his mischaracterization of his financial talent and success hook line and sinker. But the Times reports it's all a lie.

1990 and 1991 represented the worst years of the period reviewed by The Times, with combined losses of $517.6 million. And over the next three years, as Mr. Trump turned over properties to his lenders to stave off bankruptcy, his core businesses lost an additional $286.9 million. The 10-year total: $1.17 billion in losses.

...Mr. Trump was able to lose all that money without facing the usual consequences — such as a steep drop in his standard of living — in part because most of it belonged to others, to the banks and bond investors who had supplied the cash to fuel his acquisitions. And as The Times’s earlier investigation showed, Mr. Trump secretly leaned on his father’s wealth to continue living like a winner and to stage a comeback.

When will his base figure out he's got nothing for them?

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