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September 27, 2020 BREAKING NEWS
The New York Times released an extensive report of Donald Trump’s decades-long tax avoidance scheme this morning. A self-proclaimed billionaire extraordinaire, Donald paid a piddling $750 in federal income taxes in 2016, and the same amount in 2017. He paid zero federal income taxes in ten of the previous 15 years. Zilch, nada, zippo, diddly-squat.
Based on an analysis of nearly two decades of federal tax returns, Donald is the Quintessential Loser a/k/a the Quintessential Debtor, Tax Dodger and Mafioso. Although he managed to rake in hundreds of millions on various business schemes, including The Apprentice, his success in avoiding taxes was a result of his billion-plus in business losses. Over the multi-year period studied, no one in the U.S. lost more money for real – and on paper – than Donald Trump.
Donald has a long history of writing off all of his personal expenses to his business. He wrote off all expenses associated with his three weddings and honeymoons — clothing, hair styling, makeup, food, beverages, condoms, limousines, air travel, etc. He wrote off all expenses associated with the birth of his five children. He wrote off the hush money secretly issued to adult film star Stormy Daniels,
and former Playboy model Karen McDougal with whom he had sexual escapades. Between 2010 and 2018, he wrote off $26 million in consulting fees, some of which matched payments made to daughter Ivanka when she was employed by her father’s business.