The media has been obsessed with Donald Trump’s tax returns and personal and business financial accounting for years, despite the fact that the American people clearly don’t care about Trump’s taxes. If they did, they wouldn’t have elected Trump president.
Leave it to the New York Times to spend four years tracking down President Trump’s financial information, but boy did they get him this time…or at least that’s what they think. However, by the end of the current news cycle, their report will have faded from the public memory and they will have moved onto reporting another fake news story.
So what did the Times find during their intrepid reporting? The New York Times reported the following:
“Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.
He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.
As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses, and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.”
Assuming this report is true—which is a big assumption given the source—it proves that Trump is smart when it comes to using the tax code to pay less in taxes. Oh, no, how dare he want to pay less in taxes?
Who among us wants to pay more in taxes?
Trump did nothing illegal and if Dems want to make wealthy people like him pay more in taxes, they can simply close the loopholes in the tax code. Whining about the situation won’t change things.
Donald Trump has been a business mogul since the 1970s — and his father was before him.
He has been in the national spotlight for decades. He has had many successes and failures, and he’s surrounded by financial experts who find ways to save him money. Welcome to capitalism.
It takes a level of guts to take chances in the economy to make a profit. Most business ventures don’t work out. Businesses go out of business all the time.
Trump wasn’t immune to failed endeavors. Trump Casino in Atlantic City and Trump Airlines were short-lived. His USFL football team failed when the league collapsed. He lost money on other apartment development projects.
He also had massive successes. He was able to build the Trump brand into an internationally recognizable name. He essentially sold the rights to his name to developers, who now have the privilege of putting the TRUMP name on their high-rise buildings. He was also the host of a very successful TV show, “The Apprentice.”
He was able to overcome those losses to earn a net worth of $4.5 billion. One could argue the money he lost during his string of failures laid the groundwork for his eventual comeback. Trump thought big, and sometimes he gambled and lost. However, in the long run, this added to his allure and enticed investors and property owners to seek out his business.
One thing is for sure: Donald Trump is a brilliant marketer.
If I had one critique of the president, it would be this: He should point to his business failures to make a point about capitalism. Trump has a good story to tell when advocating for the deregulation of the economy. He was able to overcome his business losses to become wealthier than ever. He persevered.
His opponents don’t know the first thing about what it takes to run a business, especially one the size of the TRUMP organization.
To paraphrase Senator Bernie Sanders who once said to Hillary Clinton that he “didn’t care about her damn emails.” Well, I know I speak for many voters in the country when I say that we “don’t care about Trump’s damn taxes!”