It is why Trump has gone to the Supreme Court to avoid showing his taxes.
Many MAGA voters might not take to well that their hero billionaire depends on taxpayers to subsidize his flamboyant lifestyle:
Among the revelations from the New York Times are that President Donald Trump has dodged paying taxes for 10 out of the past 15 years. Exceptions include a few years in which the self-described billionaire paid just $750 in taxes.
“The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow,” the report revealed.
“Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television,” the Times reported on Sunday.
“Ivanka Trump, while working as an employee of the Trump Organization, appears to have received ‘consulting fees’ that also helped reduce the family’s tax bill.”
The paper added: “Over the past two decades, Mr Trump has paid about $400m less in combined federal income taxes than a very wealthy person who paid the average for that group each year.”
The Trump Organization — a collection of more than 500 entities, virtually all of them wholly owned by Mr. Trump — has used the losses to offset the rich profits from the licensing of the Trump brand and other profitable pieces of its business.
The reported losses from the operating businesses were so large that they often fully erased the licensing income, leaving the organization to claim that it earns no money and thus owes no taxes. This pattern is an old one for Mr. Trump. The collapse of major parts of his business in the early 1990s generated huge losses that he used to reduce his taxes for years afterward.