Donald Trump: “I don’t want to pay taxes”

There was a significant moment (or perhaps the only significant moment) in the US Presidential Debate when these words were uttered by President Donald Trump in response to a question asked by a visibly tired Chris Wallace. Preceding the debate, in a fantastic revelation by the New York Times, details of Donald Trump’s tax have revealed unreported losses, unaccounted payments, and misreporting of business as “personal expenses,” including a $30,000 a year hair care regimen. The documents report that Trump and his organization has avoided paying any tax in the United States in 11 years, a tax bill of $750 in 2016, and a $72.9 million tax refund.

Here are some crucial takeaways from the investigation.

Misreported Earnings

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Trump organization, across consecutive years, reported losing more money than it earned while its business grew with the buying of several golf courses. Trump reported losing over $315 million on golf courses since 2000; the Trump hotel he opened in Washington in 2016 has recorded over $55 million in losses.

He also labeled the personal expenses of his family as “business expenses” and his retreats and estates as “investment properties.

Non-existent taxes

He reported losing more than earning and paid no taxes in several years. He also paid a bill of $750 in 2016

…and a tax refund

The President claimed a tax refund of $72.9 million dollars, currently being audited by the IRS.

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This could prove a final nail in the coffin for his presidency, which has been marred with difficulties ranging from a disastrous response to the COVID-19 pandemic to abuses hurled at apparent “shithole” countries and US soldiers. A final nail in Trump’s coffin of lies which may break his foundations and prove to be his downfall, in a reenactment comparable to the Clinton Emails.

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