5 Reasons the NYT's Was Wrong About Trump's Tax Returns
TTN
By Haxorjoe (Own work) [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia Commons
The New York Times has it dead wrong once again, this time the hot takes on Trump’s leaked tax returns is the subject matter at hand. The New York Times attempted to “expose” Trump through his tax returns that were leaked to them but the reality of the tax returns paints a different picture. Here is what the New York Times got wrong:
Read more at http://trumptrainnews.com/articles/5-reasons-the-nyt-s-was-wrong-about-trump-s-tax-returns#Q0LJIm0QkLja4FZM.99
1.) Bad Business
The New York Times is stating that the leaked IRS documents show that Trump lost more money than almost any other American in the country for this ten year period the records are from. They are claiming that because of this Trump is actually bad at business and bad with finances. The President’s lawyer, Charles J. Harder, went to the NYT to correct the record. He stated that the records from 30 years ago are inaccurate due to the fact that this was before electronic filing.
Read more at http://trumptrainnews.com/articles/1-bad-business#CiCO9slfOp7yJDjH.99
2.) Write-Offs
- 2019-05-08
- Source: TTN staff
- by: TTN
The New York Times claims that Trumplost a lot of moneyduring the late 80s and early 90s isn’t untrue but they have framed it in a negative way. When a business loses money the business does not need to pay a lot in taxes or in some cases they don’t pay any at all. In Trump’s case, his business had losses because certain properties he owned lost value on the real estate market or his company made major investments. While the company did get a lot of write-offs and made several investments it was not as if the company was doing poorly or was bleeding money.
Read more at http://trumptrainnews.com/articles/2-write-offs#Fg13MWum1jXwFU81.99
3.) Trump Response
- 2019-05-08
- Source: TTN staff
- by: TTN
Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases. Much was non monetary. Sometimes considered “tax shelter,” ......
40.8K people are talking about this
....you would get it by building, or even buying. You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!
46.7K people are talking about this
Trump released these tweets following the release of the New York Times piece. He points out what the business was like in this time period and how the fake news media got it wrong.
Read more at http://trumptrainnews.com/articles/3-trump-response#XmLWbDkRhgAxxDmp.99
4.) Admitted to Losing Money
- 2019-05-08
- Source: TTN staff
- by: TTN
Gage Skidmore (https://creativecommons.org/licenses/by-sa/2.0/) via Flickr
It is not as if Trump statedthat he was doing extremely well during this time, he has said on record that the recession hurt him and many others in the industry at the time. In 1997 he wrote the “Art of the Comeback” a book about making it back to the top in the business world. He also stated in the first season of his reality TV show “The Apprentice” that he has bounced back from massive amounts of debt.
Read more at http://trumptrainnews.com/articles/4-admitted-to-losing-money#2QXkt8QJjRHDSaJC.99
5.) Dems Drop The Ball
- 2019-05-08
- Source: TTN staff
- by: TTN
Thomas Good (https://en.wikipedia.org/wiki/en:GNU_Free_Documentation_License) via Wikipedia Commons
Following the releaseof the New York Times hit piece there were renewed calls from the far-left for the IRS to release Trump’s more recent Tax returns. The Dems, however, are unable to get this done though, they are required to have a legislative reason to obtain someone's tax information and they have been unable to provide a legitimate legislative reason.
Read more at http://trumptrainnews.com/articles/5-dems-drop-the-ball#d8YJ3F4ypjV6yKbS.99