He has lived in a $900BILLION tax write-off special exemption from years ago. This has allowed him to NOT PAY ANY FEDERAL OR STATE INCOME TAXES FOR OVER THE LAST DECADE! This is why any money he makes goes directly into his pocket and why he is willing to go to the SCOTUS over anyone seeing his Income Taxes before the November election!
He is a fraud. A con man. The write-offs were taught to him by his father and his decades long association with his right hand finance guy, and he enshrined them in his 2017 tax bill. Real estate DEVELOPERS are allowed to combine losses of their investors, so someone who puts $1 into a deal can write off every penny in the deal on his personal tax forms! It’s a joke loophole that has made him keep every dollar he has ever made! He loves to point to assets, most of which are simply licensed properties (many of which are taking down his name due to the loss of business since he became President) or simply leveraged to death with debt...by the self confessed “King of Debt.”
Indeed, it is that very debt that most people believe is the anvil over Trump’s head. When American banks tired of his write downs and he couldn’t get a credit card let alone a $1B development loan, he turned overseas. In fact, it was one of his so ‘s that let the cat out of the bag when he said they didn’t need American banks, because they were getting all the money they needed from Russia...most of it apparently washed through Deutsche Bank.
https://www.ft.com/trumptoronto
Trump has one thing, and one thing ONLY going for him when he leaves office...we don’t normally put our ex-Presidents in prison. Oh, and he should have the money needed to stay far, far away from us!