Trump businesses reportedly lost more than $1 billion over a decade

Trump businesses reportedly lost more than $1 billion over a decade

Trump businesses reportedly lost more than $1 billion over a decade

During the years in question, Trump's core businesses, including hotels and casinos, lost a total of $1.17 billion and he posted bigger losses than nearly any other individual American taxpayer, according to the transcripts. He also said it was advantageous to "show losses for tax purposes" in order to renegotiate with banks and called the Times' report a "highly inaccurate Fake News hit job", though he didn't specifically cite anything incorrect about the story.

After comparing Trump's information with that of other "high-income earners", the Times concluded that Trump "appears to have lost more money than almost any other individual American taxpayer".

Congressional Democrats have always been trying to force Trump to provide his tax returns, but the U.S. president has repeatedly stated the documents were being audited by the Internal Revenue Service and thus could not be released.

He has yet to officially comment on the report.

The Times has previously reported on parts of Trump's tax returns from his 1995 filings after receiving some of the pages in the mail.

Newly obtained tax information has revealed that Donald Trump's businesses were operating at major losses between 1985 and 1994.

Wouldn't you think someone who personally lost over a BILLION dollars ("more than almost any other taxpayer in America") be vulnerable to shady activity to get out of that hole? Trump sold himself to voters as a master deal maker, who could bring the same success to the country as he did to his businesses.

He was tweeting in reply to a New York Times (NYT) article claiming that from 1985-95 he made losses of over $US1bn.

The president's campaign insists his tax returns are still in audit and, once this process is complete, he will consider releasing them.

"Additionally, the very old information put out is a highly inaccurate Fake News hit job!", he concluded.

The House Ways and Means Committee has asked the IRS to provide Trump's personal and business returns for 2013 through 2018.

Pelosi said Democrats may "go directly to court" to challenge the refusal, and joked about suggestions that they have the treasury secretary, Steve Mnuchin, arrested for refusing to hand over the documents.

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