Is Donald Trump A Billionaire Or Not?
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Watch Christian Rauchenwald Video: Is Donald Trump A Billionaire Or Not?. Learn if Donald Trump is (still) a billionaire or not and what the recent New York Times article was actually about.
1⃣ New York Times Artice 👉 https://nyti.ms/33gzEBW
2⃣ Forbes Article 👉 https://bit.ly/3cIJKyp
3⃣ Dan Alexander's Book 👉 https://amzn.to/3iiWXPD
In this video, I'm answering the question many people have asked themselves since Donald Trump first ran for office in 2016 and refused to publish his tax records to the general public.
Is Donald Trump a Billionaire or is Donald Trump broke?
While there has been a lot of speculation about Donald Trump's tax reports the New York Times article published on Sept. 27, 2020, titled "THE PRESIDENT’S TAXES
LONG-CONCEALED RECORDS SHOW TRUMP’S CHRONIC LOSSES AND YEARS OF TAX AVOIDANCE" finally provided people with an insight into Donald Trump's financial situation.
Unfortunately, the New York Times article focuses mostly on Donald Trump's liabilities and debt and only briefly mentions "Tax returns do not, for example, record net worth — in Mr. Trump’s case, a topic of much posturing and almost as much debate." misleading many people and causing them to believe that Donald Trump is broke or at least that Donald Trump is facing serious financial problems in the coming years caused by hundreds of millions in loans that are coming due.
The truth is quite different, and it is my personal opinion that the New York Times did a bad job of keeping their article focused on what they most-likely wanted their readers to take away from it.
Personally, I'm convinced the purpose of the article published by the New York Times was NOT to answer the question if Donald Trump is a billionaire or not, but instead, about spotlighting certain "shady" accounting practices Donald Trump uses to reduce his taxable income to pay little to no income tax.
Thankfully, there are others out there, like, for example, Dan Alexander, who is a senior editor at Forbes converting Donald Trump's business and also recently published a book titled "White House, Inc.: How Donald Trump Turned the Presidency into a Business" doing a better job (in my opinion).
In his Forbes article "Yes, Donald Trump Is Still A Billionaire. That Makes His $750 Tax Payment Even More Scandalous" he focuses on the question if Donald Trump is a billionaire or not and explains why this makes Donald Trump's almost non-existing income tax payments even more scandalous.
Personally, I'm no fan of Donald Trump and if I were allowed to vote in the US I would vote for literally any person opposing Donald Trump. That, however, doesn't change the fact that I'm shocked to see articles like the one published by the New York Times.
In my opinion, there are enough facts out there to report regarding Donald Trump and his business practices that would paint a clear picture and most likely would be enough to convince even the biggest Trump supporter that Donald Trump does NOT give a damn about anybody else.
BUT misleading or poorly researched articles allow Trump supporters to point the "Fake News" finger over and over again and as a result, also damage the potential effect of properly researched and phrased articles.
Last but not least, while I am NOT supporting Trump in any way, when it comes to his accounting practices I do NOT see that they prove any wrongdoing. Yes, some expenses like the consulting fees paid to Ivanka Trump or his $70,000 deduction for hairdressing are questionable, but it is up to the IRS and courts in the US to decide if those deductions are breaking the law.
I'm convinced that the majority of people out there would also take advantage of any tax loophole they can find because IMHO we as humans (sadly) tend to care only about our close family and friends but do not really care about anybody else. If we'd truly care about all of the 8 billion fellow humans on this planet, nobody would need to starve or work in inhumane conditions in third-world countries.
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