US President Donald Trump suffers over $ 1 billion loss in business
Before the US presidential election, Trump branded himself as self-made billionaire. During the campaign, he also mentioned that he became a successful businessman due to his true policies and managed to reach his business aims. But the documents received by the newspaper are showing some other story.
Following this disclosure by the newspaper, members of the Senate have also demanded that information of the income tax documents of Trump for the last six years should also be disclosed. Trump himself has turned down the demands of publicizing documents related to his tax. On the other hand, the Treasury Secretary has dismissed the petition coming from the House Ways and Means Committee. They say that the newspaper has not mentioned in the report that the time the documents are being sought to be made public.
According to the newspaper report, in 1990 and 1991, Trump suffered a loss of $ 250 million a year. It is more than the total income tax deposited by Americans. Earlier, the newspaper had informed that Trump and his relatives have helped another company with billions of dollars in wrong ways. The newspaper report further says that Trump has given income tax in eight to ten years after suffering loss in business.
According to the newspaper, the information about the trump’s tax and loss was found from a third person. The Times used the IRS Information Public Database to confirm this information. Apart from this, the newspaper has used the earlier tax documents and financial records submitted by Trump.
The newspaper has also claimed that a few weeks ago the White House official had also given information about the losses of trillions of dollars. Trump has often ridiculed the tax system of his country. Not only that, he has also talked about changing the rules of Tax several times. He said that many people in the country do not pay tax according to the amount they earn.
Based on the information received from the newspaper, Trump had tried to make a statement on behalf of which the American president’s lawyer Charles Harder termed the news and claims of the newspaper as baseless. He said that Trump’s business has been running perfectly for the past 30 years. There is no disturbance in it as the newspaper has claimed.
