One of the things Donald Trump loves most of all in this world is endlessly bragging what a great businessman he is, how he makes the best deals, how he always makes a profit, and how he plans to do the same thing for the American economy if he should become President.
But based on a new report, if Trump were indeed to do for the U.S. economy what he has done behind the scenes with his own companies, the United States would be flat broke and an economic basket case within six months of Trump taking office.
An exclusive analysis done by the newspaper USA Today found some troubling facts about the Trump empire:
“USA TODAY’s examination of Trump’s track record as a business taxpayer found not just court actions, but dozens of additional tax disputes with local authorities that didn’t reach the courthouse in states including New York, Nevada, Florida and New Jersey. In some cases, Trump’s businesses have disputed tax assessments; in others, they have simply not paid the tax bill until after the government took additional action.”
Bottom line: Donald J. Trump and his many affiliated companies are tax cheats, engaged in multiple cases of tax evasion, even when the amounts owed are minimal at best.
Here’s a partial list of the issues Trump companies have had over the years:
- Over the past 27 years, Trump’s businesses owed about $300,000 in back taxes, which were eventually paid in full.
- Trump sued the New York City Tax Commission 55 times from the mid-1990s through 2011, over the city’s assessment values on apartment complexes once owned by his father to his core buildings and companies, which Trump attempted to dispute.
- Between 2006 and 2007, Trump Mortgages owed back taxes totaling more than $4,800.
Not only that, but Trump has also overvalued his properties for decades. For example, the Ritz Carlton Resort and Spa in Jupiter, Florida has been valued by assessors at $13.7 million. But Trump personally says the property is worth $50 million, a difference of $36.3 million more. Or how about Mar-a-Lago, Trump’s palatial estate in Palm Beach, Florida. It’s assessed at only $20 million, but Trump the braggart says it’s worth $50 million. By overvaluing his real estate, Trump can pretend he’s worth more than he is, and he can also borrow against the value of that property.
There is no doubt why Donald Trump refuses to release his tax returns. It has nothing to do with being under audit, which he cannot prove. Rather, it has to do with Trump not wanting the American public to know he’s worth much less than he says and that he’s a bum who doesn’t want to pay his fair share of taxes like the rest of us.
Donald Trump is a liar, a bigot, a racist, a misogynist, a cheater, and a disgusting pig of a human being. He is attempting to perpetuate one of the greatest frauds in the history of the United States. For this and many other reasons, he must be exposed and impeached.
This article was originally published by the same author at LiberalAmerica.org.