Trump's tax records show his businesses lost so much money over a decade, he didn't have to pay income taxes for 8 of those ten years

Donald Trump AP Photo/Alex Brandon

President Donald Trump's tax information covering the years 1985 to 1994 show a business empire nearly in ruin, according to financial information obtained by The New York Times.
Trump's negative adjusted gross income allowed him not to pay any income tax for eight of those years, according to the records.
The filings show that in 1985, Trump lost $46.1 million from his casinos, hotels, and apartments. These businesses reportedly kept losing money annually for a total loss of $1.17 billion in 10 years.
Visit Business Insider's homepage for more stories.

President Donald Trump's tax information covering the years 1985 to 1994 reportedly show a business empire nearly in ruin, so much so that his negative adjusted gross income allowed him not to pay any income tax for eight of those years.

The tax information, first reported in a New York Times report published Tuesday, revealed that Trump's businesses were not as successful as the future president made them out to be:

See the rest of the story at Business Insider

NOW WATCH: This video shows the moment Sarah Sanders lied to a room full of reporters about FBI agents telling her they were happy Trump fired Comey

Comments

Second stimulus checks update: Here’s the latest as Democrats push for more payments

A second stimulus check from the IRS would be nice, but don’t count on it just yet. The bill faces an uphill battle in a Republican-led Congress. Democrats in the House of Representatives put forth a new stimulus package proposal yesterday, and—good news!—it includes a second round of stimulus checks for Americans hurt by the ongoing global pandemic. For example, the 33 million people currently jobless due to COVID-19. Read Full Story

Protesters stormed the US embassy in Baghdad and torched parts of it on New Year's Eve

AHMAD AL-RUBAYE/AFP via Getty Images Protesters have stormed the US embassy in Baghdad, setting fire to a reception area. The demonstrations were sparked by US attacks on a militia in Iraq and Syria Sunday, in which 25 were killed. President Trump in a tweet accused Iran of being behind the attack on the embassy, and said the US had launched the strikes in retaliation for an attack in which a US contractor was killed. Visit Business Insider's homepage for more stories . Supporters of Shia militias in Iraq have stormed the US embassy in Baghdad, setting fire to a guard tower and reception area, according to reports. An Associated Press reporter at the scene reported seeing flames rise from inside the compound, and at least three US soldiers on its roof. See the rest of the story at Business Insider NOW WATCH: How Ocean Spray cranberries go from the bog to your Thanksgiving table See Also: Greta Thunberg will interview David Attenborough in a special edition of the BB...

The Trump administration is looking into a plan to cut taxes by the amount it's taking in from China tariffs

Reuters The Trump administration is looking into a proposal that would lower taxes by the same amount it has taken in from tariffs, according to a congressional aide. The proposal came as the US trade war with China threatens to put pressure on American businesses and consumers. The White House falsely claimed for much of the past year that tariffs are paid by foreign exporters, particularly in the case of China. Visit Markets Insider for more stories . The Trump administration is looking into a proposal that would lower taxes by the same amount it has taken in from tariffs as its trade war with China threatens to put pressure on American businesses and consumers. Republican Senator Rick Scott of Florida first introduced the tax cuts, which would be equal to the revenue the Treasury Department received from tariffs on thousands of Chinese products over the past year. The plan was first reported by the Washington Post. See the rest of the story at Business Insider NO...

Internet Business News

Search This Blog