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Miles Archer

(18,837 posts)
Thu Feb 28, 2019, 05:22 PM Feb 2019

Trump biographer reveals why Trump's yearly adjusted gross income is probably "less than $500K"

The 70-year-old (David Cay) Johnston (author of the 2018 book “It’s Even Worse Than You Think: What the Trump Administration Is Doing to America” and 2016’s “The Making of Donald Trump”) has been writing about Trump’s finances for decades, and he told CNN’s Alisyn Camerota that exaggerating his net worth is nothing new for The Donald.

Johnston recalled, “I revealed in 1990 that (Trump) wasn’t a billionaire, and Donald called me a liar until he had to put in the record documents showing he had a negative net worth of almost $300 million.”

Camerota asked Johnston what Americans can expect when Trump’s tax returns are made public—and the author responded that “one of the things that we’re going to see is that his adjusted gross income” in “some recent years” was “less than $500,000. We know that because he got something in New York called the star property tax credit on his principal home, which is in Trump Tower. You only get that if your adjusted gross income is less $500,000.”

Johnston went on to say that “people are going to be very shocked about his finances” and will see that Trump “has the lifestyle of a billionaire, but he doesn’t have any kind of wealth.”

https://www.rawstory.com/2019/02/trump-biographer-says-people-will-shocked-presidents-finances-lifestyle-billionaire-no-wealth/
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Trump biographer reveals why Trump's yearly adjusted gross income is probably "less than $500K" (Original Post) Miles Archer Feb 2019 OP
Told you so. Wellstone ruled Feb 2019 #1
well, it would be based on his fictional income on his tax returns, but mopinko Feb 2019 #2
Worth seeing if you haven't mikeysnot Feb 2019 #3
His dad gave him $400 million which he lost! BigmanPigman Feb 2019 #4
He claim that he donated all profits (nearly $200k) from his company to U.S. Treasury. LiberalFighter Feb 2019 #5
I thought the same thing when I read that article. llmart Feb 2019 #8
Trump can't claim that Russian money laundering money. TheBlackAdder Feb 2019 #6
K&R smirkymonkey Feb 2019 #7

LiberalFighter

(50,931 posts)
5. He claim that he donated all profits (nearly $200k) from his company to U.S. Treasury.
Thu Feb 28, 2019, 06:03 PM
Feb 2019

That isn't much if he really has a successful business. Right? Or am I getting something wrong?

llmart

(15,540 posts)
8. I thought the same thing when I read that article.
Thu Feb 28, 2019, 10:27 PM
Feb 2019

I may have even posted something about how if that was all the profits he made, he's a shitty businessman.

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