The Times revealed that Trump has to pay back $421 million in the coming years in a bombshell exposé detailing his personal and business tax returns. The documents obtained by the outlet showed that Trump had paid $0 in federal income taxes for a decade before paying $750 in 2016 and 2017. Moreover, they showed that the president had reported losing hundreds of millions of dollars on the properties he operates.
Though Trump previously called the report “fake news,” he did not deny that he owed more than $400 million at Thursday’s NBC News town hall. Rather, he falsely insisted that the outlet had illegally obtained his tax information. The president declined to say to whom he owes money.
“I have a very, very small percentage of debt compared” to my wealth, Trump claimed.
The president alleged that he took on the debt as “favors to institutions that wanted to loan me money.”
“It sounds like you’re saying $400 million isn’t that much,” moderator Savannah Guthrie responded. “But are you confirming that, yes, you do owe some $400 million?”
“What I’m saying is that it’s a tiny percentage of my net worth,” Trump replied. “. . . I don’t owe Russia money. I owe a very, very small . . . It’s called mortgages. People have a house, they put a mortgage.”
“I don’t owe money to any of these sinister people,” he continued. “This has been going on for years now.”
Asked if he owed money to any foreign entity, Trump replied: “Not that I know of.”
“I will probably . . . I will let you know who I owe whatever small amount of money,” he added.
In fact, Trump’s company reportedly owes about $340 million to German financial giant Deutsche Bank, the embattled institution which was one of the few banks willing to lend him money after a series of bankruptcies and defaults. While Trump appeared to acknowledge the $421 million in personally guaranteed loans that were reported by The Times, a Forbes analysis found that Trump’s total debt was actually closer to $1 billion.
Trump has earned more than $200 million in income from his interests in foreign countries since 2016, according to an analysis by the Center for Responsive Politics.
https://www.rawstory.com/2020/10/tru...e-that-amount/
Reply With QuoteOriginally Posted by floridafan
The Times revealed that Trump has to pay back $421 million in the coming years in a bombshell exposé detailing his personal and business tax returns. The documents obtained by the outlet showed that Trump had paid $0 in federal income taxes for a decade before paying $750 in 2016 and 2017. Moreover, they showed that the president had reported losing hundreds of millions of dollars on the properties he operates.
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