Anyone with a shred of common sense has known from the very beginning that Trump is nothing more than a shitty businessman in a tacky suit. But a recent report from the New York Times where they released a portion of his tax returns from the 1980s and 90s pretty well removed all doubt — showing that Trump lost a staggering $1.17 billion between 1985 and 1994.
Donald loves to boast about his “success” in the business world, so of course, he had an excuse locked and loaded for when the time came:
….you would get it by building, or even buying. You always wanted to show losses for tax purposes….almost all real estate developers did – and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!
— Donald J. Trump (@realDonaldTrump) May 8, 2019
But as it turns out, the influential business magazine, Forbes, had Donald Trump figured out way before the New York Times exposed him for the crooked conman and washed up entrepreneur he really is. Way back in 1990, Forbes magazine actually dropped Trump from their Fortune 400 “rich list” because they doubted he was nearly as wealthy as he claimed — and lo and behold, they were right.
Journalists Richard L Stern and John Connolly explained why they made such a controversial decision at the time stating, “virtually all real estate has come down in value the past few years.” They felt that the real estate market invalidated Trump’s “unrealistically optimistic” valuation of his luxury properties.
His portfolio valued at $3.7 billion, but he was drowning in $3,2 billion worth of debt — leaving his worth at only $500,000, one-third of what Donald was attempting to claim.
Nevertheless, Trump tried to do what Trump does best and dupe the reporters into believing his nonsense. When the pair visited Donald at Trump Tower in Manhattan he stated, “I’m going to show you cash flow numbers I’ve never shown anyone before.”
Stern and Connelly wrote, “He waves papers that he says show cash flow last year of $159m – as against the $140m we figured.”
But then came the patented Trump move:
“He shows us more numbers attesting to a wealth of cash and negotiable securities but folds the page so we can’t see the next column over.”
The man’s been swindling the masses since the days of big hair, Trans Am’s, and leg warmers.
Featured image via DC Tribune Gallery