WASHINGTON: US President Donald Trump on Wednesday defended himself following a media report that said his businesses had lost a total of more than US$1 billion from 1985 to 1994, saying he had leeway with his taxes as a real estate developer.
"You always wanted to show losses for tax purposes ... almost all real estate developers did - and often re-negotiate with banks, it was sport," Trump said in a post on Twitter on Wednesday. His former lawyer Michael Cohen, however, told a House panel in February that rather than an audit being underway, Trump feared releasing the tax information could lead to an audit and penalties.
Technically, Trump is a bankrupt. Technically, he doesn't have money to buy a BIG Mac. The banks would love to get their money back from Trump..but what money There is none. They're screwed!