There is far too much to unpack and it will take a while to dig through (not to mention the other stories that are sure to follow). But for starters:
Donald J. Trump paid $ 750 in income tax for the year he won the presidency. In his first year at the White House, he paid another $ 750.
In 10 of the last 15 years he had paid no income tax at all – mainly because he claimed to have lost a lot more money than he made.
Pretty much all of you reading this have paid more taxes than the alleged “billionaire” Donald Trump.
And then there's the handle.
In 2012, he took out a $ 100 million mortgage on the commercial space in Trump Tower. He took almost the entire amount as a withdrawal, as his tax records show. His company paid more than $ 15 million in interest on the loan, but nothing on the principal. The full $ 100 million will be due in 2022 (…)
The remaining amounts for these loans had not been repaid by the end of 2018. And the companies that carry most of the debt – the Doral Golf Resort ($ 125 million) and the Washington Hotel ($ 160 million) – are facing issues that could make it difficult to find a lender who is ready to refinance it.
Trump's answer is ridiculously stupid (as always):
"It's false news … in fact, I paid tax … it's under review" – Trump denies a New York Times report that he paid only $ 750 in federal income taxes in 2016 and 17, but does not provide any evidence the opposite pic.twitter.com/RkosMUQpES
– Aaron Rupar (@atrupar) September 27, 2020
It's ridiculously easy for him to prove otherwise, but he won't because he can't. He is f’d
Some early reactions:
$ 750 is a happily accurate number, and a quick glance at Twitter suggests it will repeat itself endlessly until the election.
– Angus Johnston (@studentactivism) September 27, 2020
"… the cost of haircuts, including the more than $ 70,000 paid to style his hair during" The Apprentice. "Together, nine Trump companies have at least $ 95,464 to a favorite hair and makeup artist at Ivanka Trump written off ", reports NYT … https://t.co/loUwsvrnEX
– David Siders (@davidsiders) September 27, 2020
"Over the next four years more than $ 300 million in loans will fall due – commitments for which he is personally responsible – … His properties have become bazaars for raising money direct from lobbyists, foreign officials and others collect the time, access or access favors … "
– Will Goodwin (@Will_P_Goodwin) September 27, 2020
Trump's chronic tax evasion is an utter shame. But that's the big scandal I think. He uses the presidency to get rich by selling out the American people. https://t.co/VI870LVgH0
– Michael Linden (@MichaelSLinden) September 27, 2020
My whole schedule right now – we all pay more income taxes than the asshole we have for a president.
Who here has ever had a tax bill that required you to set up an installment payment plan with the IRS? I have, and it sucks! # VoteHimOut2020
– Adriana Maestas (@AdrianaMaestas) September 27, 2020
You can read Trump's tax returns in two ways: either Donald Trump is the greatest tax evader in US history – or he's a financial desperado hopeless to God knows who and just needs every dollar he cheats from Secret Service golf car rentals to pay the electricity bill
– David Frum (@davidfrum) September 27, 2020
Much more is to come.