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Home / US / “Didn’t that make me smart?”: Trump defended Chicago’s business deal after the New York Times reported

“Didn’t that make me smart?”: Trump defended Chicago’s business deal after the New York Times reported



Trump’s latest tweet is very similar to other arguments he used in response to news reports on his financial records. After The Times reported in October 2016 that he had declared a loss of nearly $1 billion on his 1995 tax returns, Trump stated in a presidential debate that not paying federal income taxes “makes me very smart.”

Since then, Democrats have recalled the bank to accuse the president of tax evasion. Part of the broader attack on what they claim is Trump’s decades of improper financial transactions.

The Times also reported in October 2018 that Trump implemented dubious tax plans and outright fraud in the 1

990s to strengthen his inheritance from his parents, which today is equivalent to at least $413 million.

Recently, The Times reported last month that Trump paid only $750 in federal income tax in 2016 and 2017, and he was responsible for a total of $421 million in loans and other debts-most of which should be in the next Payment year within four years.

The president opposed the Times investigation, insisting that he “has the right” to exploit various financial loopholes, while claiming that he was underutilized and had “little debt.”

Trump seems to have confirmed at the NBC News Hall event earlier this month that he did indeed owe at least $400 million in debt. Although Trump said he did not “owe Russian money”, when asked if he had any debts to foreign banks or entities, he replied: “I don’t know, but I might.”




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