The Intelligence from The Economist No-tax-and-spend policy: Trump’s tax returns
Sep 29, 2020
James Astle, The Economist's Washington bureau chief, dives into the financial intricacies of Donald Trump's tax returns, revealing his substantial losses and looming debt. The discussion unveils how Trump's minimal tax payments contrast sharply with his wealth, raising eyebrows about his business claims and political future. Additionally, the conversation explores China's ambitious carbon-neutrality goal for 2060 and delves into a unique Swiss referendum that creatively engaged voters through a game of pick-up sticks.
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Trump's Tax Discrepancies
- Donald Trump's tax returns reveal he paid minimal taxes over 15 years.
- This is due to substantial business losses and creative accounting practices.
Trump's Business Losses
- Trump's golf courses and D.C. hotel have reported significant losses.
- He also faces a potential $100 million bill from the IRS related to a past tax refund.
Trump's Business Acumen
- Trump's tax situation raises concerns about his business acumen and financial stability.
- These revelations add another layer to the ongoing political discussion around his presidency.