According to Trump's tax documents, he only had to pay $750 in accordance to his income. In other words, Trump's income tax is less than our respected teachers, firefighters, and nurses. The circulating news allowed for an interview from 1990 to resurface where Trump is asked to explain why he is in millions of dollars in debt.
"The Times obtained Donald Trump's tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due." - New York Times
The IRS has been speculating the legitimacy of Trump's $72.9 million tax refund due to his financial losses. Trump claims he has more financial loss compared to his annual profit. He states in Walters 1990 interview that if he were to sell all of his assets he would no longer be in debt with the bank.
At the time, he paid $407.5 million (the equivalent of over $698 million today) or the iconic New York location, a controversial sum. - Newsweek
Trump is currently running for his next Presidency during his financial struggles. He still has Trump Towers all over the world where he has formed international relations. His international relation with Ukraine's President was discussed during his Impeachment Trials. Trump's international assets are at risk from the financial loss due to the pandemic.
"The cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around 9 trillion dollars, greater than the economies of Japan and Germany, combined." - International Monetary Fund
I'm 'Ready' To Take Action On Stimulus Checks, Rental Assistance, Business Loans And State And Local Aid - Trump
As our President, he has been supportive of stimulus packages through both the Heals Act and the Heroes Act.
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