Donald Trump Businesses Lost Over $1 billion In Decade

Washington: US President Donald Trump’s businesses reported losses of $1.17 billion from 1985 to 1994, the New York Times has reported, citing information from tax documents from those years. According to the daily, the data printouts from Donald Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form for the years 1985 to 1994 - represents the fullest and most detailed look to date at his taxes, information he has kept from public view.

The New York Times on Tuesday said that the 10 years of tax information obtained by it “paints a different and far bleaker” picture of Donald Trump’s deal-making abilities as well as financial condition. It appears Trump lost more money than nearly any other individual US taxpayer year after year, the daily reported. Donald Trump ran for President branding himself as a “self-made billionaire”, touting his financial success, but he has been steadfast in his refusal to release his tax returns to the public, despite mounting pressure from Congress.

On Monday, Treasury Secretary Steven Mnuchin formally denied a request from the House Ways and Means Committee for the President’s last six years of tax returns — a period not covered by the documents reported by the daily. In 1990 and 1991, Trump’s core business losses were more than $250 million each year — more than double those of the closest taxpayers in those years, the report said, adding that Donald Trump lost so much money that he avoided paying income tax for eight of the 10 years. (IANS)

Also Read: BUSINESS