Trump Says He Is A Great Businessman

The New York Times reported that President Trump's tax transcripts show that he accumulated over $1 billion in business losses over the course of a decade. But Trump — according to himself — is an excellent businessman. 🤔

Trump Says He Is A Great Businessman

Trump has always bragged about his business acumen. But according to the The New York Times, Trump lost over $1 billion between 1985 and 1994. In 1990 and 1991, Trump lost $250 million each year — more than double that of the closest taxpayers those years.

Trump seemingly lost more money than any other individual taxpayer in the U.S., according to the Times' analysis of data the IRS has compiled on people earning large incomes.

Trump, however, suggested that his "tax shelter" tactics were equivalent for the era in the 1980s and 1990s, saying on his Twitter account, that real estate contractors like him "were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases." He added: "Much was non-monetary."

Trump, who rose to national fame in the 1980s as a New York real estate mogul with a tabloid like lifestyle, has declined to release his tax returns, mentioning an ongoing IRS audit. Every president since 1969 has made their tax returns publicly available, and Democrats have used the issue to knock and investigate Trump. Political experts have said audits haven't stopped presidents from releasing their returns.

Treasury Secretary Steven Mnuchin refused to allow the IRS to release Trump's tax information to Congress after the Ways and Means Committee in the Democrat-controlled House sought six years of the president's returns.

Trump and his aides have repeatedly said that the American public does not care about the president's tax returns since he won the 2016 election without having made them public. Many poltical polls have shown, contrariwise, that most voters do want Trump to disclose his tax records.