Another “bombshell” report by the New York Times over the weekend revealed what many of us paying attention already suspected. Donald Trump’s tax returns have revealed him to be a tax dodging, massively broke, corrupt president. It’s not really news so much as it is a well-known assertion.
President Trump holds $421 million in personal debt and loans that are mainly coming due in the next four years. The ongoing audit by the Internal Revenue Service that Trump has cited for not releasing his tax returns publicly, meanwhile, could cost Trump at least $72 million.
Trump did what many businessmen tend to do, writing off unrelated costs as business expenses like his home and hair. The Times report found that Trump paid just $750 in personal income taxes in 2016 and 2017 and none at all in 10 of the previous 15 years. That shouldn’t come as a shock to anyone. How do you tax someone who doesn’t know how to make money?
It also turns out, as many suspected, that Trump was not only broke before his election, but he was broke leading up to his role on the Apprentice. He essential pretended to be a successful businessman in order to become a successful businessman. The Apprentice was a huge source of revenue for Trump, in the hundreds of millions, millions he’s since squandered.
I could go on with all of Donald Trump’s tax revelations that the Times revealed, but you can go and read it for yourself, as I’m sure many of you already have. I’m not going to waste your time. There are no real surprises, no Russian connections, no nothing. Like everything involving the President, it only matters to Donald Trump.
Right now, the only thing Trump cares about is his re-election. Not because he want’s to help Americans or nominate more judges, but because it is the only thing that will save him. He owes over $400 million in personal debt. As the New York Times says it’s unclear how Trump’s lenders could force him to pay up should he win re-election; it would be unprecedented for institutions to foreclose on a sitting U.S. president.
The election is little over a month away. That election needs to remain the only focus, not just for Trump, but for us. MAGA people will not be persuaded over his tax returns. Trump has already declared it fake news and that’s all that is required to get his cult following to look the other way. His tax receipts will not move the poll numbers in a significant way.
If the Times report is meaningful to the average Joe in anyway, it’s that it shows just how vulnerable Trump will be if he loses. If progressives, liberals, moderates, or anyone with a sense of right and wrong want revenge for the last four plus years, it’s to get him out of office and into the bankruptcy courts.
If those taxes do offend you, as they should, we have to remember when Trump is gone, we need to force Biden to make some big changes. Trump’s business practices are not unique, they are rampant in American society among the elite. If we fail to push for that change, then it shows that Trump’s wealth, taxes and corruption never mattered much to begin with.