Trump’s Tax Returns Show He “Isn’t Much of a Business Person”

Business, Politics
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When Trump was elected to the presidency, he broke decades of tradition by refusing to release his tax returns. He defended his decision, arguing that an audit by the IRS would expose his financial secrets. Republicans pointed out that privacy laws protect taxpayers. Democrats, however, argued that transparency is critical.

As a candidate, Trump made no mention of his financial affairs. But after he entered the White House, Democrats launched a legal and political battle to get access to his taxes. They were able to obtain them in December. A congressional committee reviewed the returns, raising questions about hundreds of millions of dollars in deductions and unusual accounting calculations.

The committee also reported that Trump paid little or no income tax for several years. One report found that Trump’s real estate empire had significant losses. Others raised concerns about interest earned on loans to his children.

Check out the many documents released by the House of Representatives Democrats

Trump’s tax data could reveal how he reduced his tax liability and how his businesses performed. It could also shed light on his wealth and charitable giving. This will give journalists and independent tax experts more in-depth investigations of Trump’s finances.

Trump’s tax records cover six years, from 2015 through 2020. They include over 2,700 pages of personal tax returns and more than 3,000 pages of business tax returns. Some of the returns are redacted, which means that Social Security numbers and bank account numbers were removed.

Trump’s tax returns will be published on the Committee’s website. The data includes tax information from each year for him and his wife, Melania.

Upon looking at his returns and his financial loses, many tax experts conclude he was not a particularly good businessman.

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