President Donald Trump (Image: YouTube)
A bombshell report published this week revealed President Donald Trump paid no income tax in eight of the ten years between 1985 and 1994.
According to The New York Times, Trump reduced his tax burden by deducting his capital losses during that stretch.
During the 2016 election cycle, Trump boasted after it was revealed he failed to pay income taxes by saying, “That makes me smart.” Hillary Clinton and many others criticized him for this comment.
The Times report also revealed Trump accumulated more than $1 billion in businesses losses from 195 to 1994. The newspaper’s analysis concluded that the 72-year-old former Apprentice star racked up more losses than virtually every other American taxpayer.
Subscribe to our free weekly newsletter!
A week of political news in your in-box.
We find the news you need to know, so you don't have to.
Trump has long promoted himself as a self-made millionaire, even though several thorough investigations into the history of his family’s businesses show he inherited much of his wealth from his father, Fred Trump.
SLIDESHOW: TOP DEMOCRATS RUNNING FOR PRESIDENT IN 2020
During the 2016 election cycle, Trump said in an interview that his father gave him a “small loan of $1 million.”
On Tuesday, the Federal Trade Commission (FTC) banned noncompete agreements in a 3-2 vote. The…
A proposed bill in California would prohibit security screening company CLEAR from skipping the general…
On Monday, the Supreme Court heard oral arguments over a challenge to a law allowing…
The Arizona House of Representatives failed to advance a repeal of the state's 160-year-old abortion…
Oregon Gov. Tina Kotek (D) signed a bill restoring criminal charges in cases of hard drug possession.…
President Joe Biden's administration announced the first-ever national limits on toxic "forever chemicals" in drinking water. This…