Pick one: Trump is a) a poor businessman whose business constantly loses millions of dollars a year to earn credits, or b) a successful businessman and a tax cheat. Option c) Trump is a poor businessman AND a tax cheat, but a successful businessman and not a tax cheat is off the table. Getting sued by the IRS does not bode well for option a. congratulations to all Americans that enabled this muppet but even more congratulations to all Americans who still bend over backward in order to find excuses for this man while in the very same moment he is taking your money right away from your pockets. But hey, he is just a billionaire, I’m sure he needs them more than you do, so keep looking for excuses.
He paid 750k to Ivanka as an outside consultant to his business which he can’t because she is an employee of the business. He paid claimed $100k of hair and makeup styling (for ONE effing year!) for Ivanka as a biz expense. Apparently, he has less than $900k in liquid assets and he has 300M in debts coming due next year. He doesn’t own much property (except the golf courses and trump tower which are almost 100% leveraged). Every business he runs personally is failing except Trump towers. He makes money through licensing his name. Since all his property is almost fully mortgaged he really hasn’t any assets to speak of.