After the bombshell report in Tuesday’s New York Times that detailed over a billion dollars in losses for Donald Trump during the decade spanning from 1985 to 1994, the general conclusion was that not only had Trump been lying about his one major “qualification” for even running for the presidency — that he was a successful businessman — but that he was so bad at it, he’d lost more money in that time than almost any other single taxpayer in America.
Today, Trump is frantically tweeting his cover story:
Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases. Much was non monetary. Sometimes considered “tax shelter,” ……
— Donald J. Trump (@realDonaldTrump) May 8, 2019
….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
The Times‘ requests for input from Trump and the White House as they were investigating the piece were met with the same excuses — first that there was a “good reason” that Trump lost so much money, that it was essentially on purpose so that he could avoid paying taxes, which as many Republicans like to portray, is legal and makes them smart for finding the most creative ways to make money. Then Trump’s legal team said that the whole report was bogus because the transcripts of his financial records were from a time before electronic filing and therefore unreliable.
That’s the one-two Donald throws here in the tweets: There was a reason for it, and also it’s not even true.
Suspending disbelief for a moment at that staggeringly bad logic, the fact is that IRS and Treasury officials often rely on those transcripts, and in fact, the Times themselves, in researching the massive exposé on the Trump family finances going back decades that just earned them another Pulitzer, used the same transcripts of Donald’s father Fred Trump’s finances, and what they printed ended up corresponding perfectly with the actual, signed, Treasury-approved tax returns they eventually got their hands on.
America wasn’t buying Trump’s bullshit either:
You’re admitting to tax fraud right now
— Jimmy Burdoff (@elJimperor) May 8, 2019
If it was a “Sport” you would be the 10-Time Gold Medalist In the Bank Fraud Olympic event…
— Michael Z (@mznyc1) May 8, 2019
Which is it, the report is wrong or you are proud of what you did?
— charlie (@TheOldOlaf) May 8, 2019
“It was cool, because everyone did it! Also, everyone’s lying and I didn’t do it.”
PATHOLOGICAL
— Keller McGuinness (@Kellerrrrrrrr) May 8, 2019
It was “sport”? While I, & millions of other hard working, middle class parents bust our butts to make enough to keep mac&cheese on the table & shoes on our kids feet??
— Sheryle L Lyman (@wcclyman) May 8, 2019
Of course, Trump’s so bad at this sport, he probably would put the mac & cheese on his kids’ feet, their shoes on the table, and then deny that shoes and cheesy pasta even existed.
Featured image via screen capture
