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Trump’s businesses lost $ 1.17 billion in a decade, according to NYT

 Washington, DC – The business conglomerate of the current US president, Donald Trump, lost about $ 1,170 million between 1985 and 1994, according to tax returns revealed Tuesday by The New York Times.

The New York newspaper obtained printed copies of Trump’s tax returns and found that the president reported approximately $ 1,170 million of losses during the decade of his business in casinos, hotels and residential buildings.

The newspaper’s reporters indicated that Trump “seems to have lost more money than almost any other US taxpayer” in the time studied, when comparing his data with the information that the Internal Revenue Service (IRS) of the United States. collects on an annual sample of high-income people.

In his report, the newspaper explained that the high commercial losses of Trump’s business caused the now president to avoid paying taxes during eight of the ten years analyzed.

Although the Times acknowledged that it did not obtain Trump’s real income statements, he said it received “the information contained in the statements of someone who had legal access to it.”
The newspaper quoted a senior official as saying that Trump “obtained massive depreciation and a tax shelter due to large-scale construction and subsidized developments.”

However, one of Trump’s personal attorneys, Charles Harder, appears in the report claiming that the tax information is “demonstrably false.”

The news published today in the newspaper comes in the middle of a battle between the Democrats of the US House of Representatives. and the Trump Administration for the application of Trump personal and commercial tax returns from 2013 to 2018.

Treasury Secretary Steven Mnuchin on Monday rejected the request of the president of the House of Ways and Means, the Democrat Richard Neal, to assert that “lacked a legitimate legislative purpose.”

Neal had demanded that the Treasury give Trump tax returns before Monday, in order to identify his business ties and rule out conflicts of interest in his actions.

Neal now has the option of resorting to a judicial summons to force the Government to deliver the documents or sue the Department of Justice, but both alternatives would generate, according to experts, a battle in the courts that could escalate to the Supreme Court.

Trump is the first American president since Gerald Ford (1974-1977) who does not publish his tax return every year, a tradition that his predecessors considered part of his duty of transparency and accountability before the people. (EFE)

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