New York Times investigation on Trump: “Decade in the Red”

“Newly obtained tax information reveals that from 1985 to 1994, Donald J. Trump’s businesses were in far bleaker condition than was previously known,” The New York Times is reporting in an investigation.

“Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome,” the Times is reporting. “He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition.

“The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view.

“Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.

“The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.

“In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners.

“His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years.

“Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits.”

The special report is here.

Author: jeffpelline

Jeff Pelline is a veteran editor and award-winning journalist - in print and online. He is publisher of Sierra FoodWineArt magazine and its website SierraCulture.com. Jeff covered business and technology for The San Francisco Chronicle for 12 years, and he was a founding editor and Editor of CNET News for eight years, among other positions. Jeff has a bachelor's degree from UC Berkeley and a master's from Northwestern University. His hobbies include sailing, swimming, and trout fishing in the Sierra.

8 thoughts on “New York Times investigation on Trump: “Decade in the Red””

  1. “The Times said it had documented those losses by obtaining official IRS tax transcripts for those years, showing the figures Trump reported on his IRS Form 1040 returns. The scope of those losses was such that, “year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer,” the Times said.”

    He lost more money than any other individual in the whole country!
    Note to Resume’ – Redact!

    #1 Con Man telling his “base” that he’s the smartest man in the world. Impeach the crotch grabbing birther before he gets us into another war, with Pompeo and Bolton leading the parade in Venezuela, and Iran..

  2. The problem with impeachment is that the Senate will not find trump guilty and then he really can say he is exonerated. The best change to rid the planet of trump is for Dems to keep the heat on via hearings and discredit the man, then let the voters impeach him in 2020. The only problem would be the election itself, Russian propagandizing (if not vote tampering) etc. which the trump seems to welcome with open arms. You apparently can fool trump supporters all of the time.

  3. Hard to imagine this guy as our county clerk-recorder. I guess I wasn’t alone: “Barry Pruett May 9, 2019 at 9:45 AM
    The propagandist media is getting a very rude awakening. They finally have met their match with a leader who will finally call bullshit and stick it to them. Trump has exposed the liberal media for what it truly is – a branch of the DNC. Credibility has gone out the window, and no matter what they say or propagandize, Trump is still at 50% and climbing. Is there a local example of same??? Lol.”

    1. “The propagandist media is getting a very rude awakening”-
      Trump Resume: Rounding out —-Lost $100,000,000 a year for ten years in a row. That’s entertainment!

  4. The myth continues. Anyone who really knows anything at all about media understands that the ‘liberal press’ is a conservative myth. How can multi-national conglomerates owned by billionaires be truly liberal?

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