Trump claims that his $421 million debt is 'tiny' but he apparently owes more than twice that amount
October 16, 2020
By Igor Derysh, Salon
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The Times revealed that Trump has to pay back $421 million in the coming years in a bombshell exposé detailing his personal and business tax returns. The documents obtained by the outlet showed that Trump had paid $0 in federal income taxes for a decade before paying $750 in 2016 and 2017. Moreover, they showed that the president had reported losing hundreds of millions of dollars on the properties he operates.
Though Trump previously called the report “fake news,” he did not deny that he owed more than $400 million at Thursday’s NBC News town hall. Rather, he falsely insisted that the outlet had illegally obtained his tax information. The president declined to say to whom he owes money.
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In fact, Trump’s company reportedly owes about $340 million to German financial giant Deutsche Bank, the embattled institution which was one of the few banks willing to lend him money after a series of bankruptcies and defaults. While Trump appeared to acknowledge the $421 million in personally guaranteed loans that were reported by The Times, a Forbes analysis found that Trump’s total debt was actually closer to $1 billion.
Trump has earned more than $200 million in income from his interests in foreign countries since 2016, according to an analysis by the Center for Responsive Politics.
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https://www.rawstory.com/2020/10/trump-claims-that-his-421-million-debt-is-tiny-but-he-apparently-owes-more-than-twice-that-amount/
