Rachel Maddow said on Monday night that Donald Trump is officially in a corner following the New York Times’ blockbuster reporting on his taxes.
According to the MSNBC host, Trump basically has two options now: either come clean about his business failures, or admit that he’s a tax-dodging criminal.
“Can the president’s ego endure the public knowing that … his business empire is catastrophe upon bankruptcy upon failure, year after year after year?” Maddow said. “Or will he explain that away and thereby cop to a crime?”
— PoliticusUSA (@politicususa) September 29, 2020
We can see how that story he’s been telling the IRS diverges from what he’s been telling us, the public. I mean just look at 2018 alone. His financial disclosure from the White House – public facing document – his financial disclosure from the White House for 2018 says that he made at least $435 million that year. Well, his tax record shows that he lost $47.4 million that year. Well, which is it? Did he make $435 million, or did he lose $47 million? Which is it? He told two different audiences two very different things about that same year. He told the IRS he lost $47 million. Is that true? Is the president comfortable admitting that he lost all that money in 2018 and that he’s been losing hundreds of millions of dollars for years? Can he just shut up and eat that now that everybody is going to be able to see the figures and see officially that his business empire is a terrible and consistent failure, or can his ego not take that? Will he feel obliged to disclaim what he’s told the IRS. Will he feel obliged to claim publicly that yeah, yeah, yeah those losses on paper in terms of what I told the IRS, but in reality I really am making hundreds of millions of dollars. I just told the IRS otherwise so that I don’t have to pay taxes on it. His ego is going to drive him to say that. But there’s a problem. If he cops to that, the president is potentially showing the necessarily intent and understanding of his actions to cross the line from obvious tax avoidance, which is legal, into obvious tax evasion, which is potentially a quite serious crime. So that’s the first of the two big takeaways here: Can the president’s ego endure the public knowing that what he says has happened to his business empire is catastrophe upon bankruptcy upon failure, year after year after year. Or will he explain that away and thereby cop to a crime?
Trump’s entire image – and presidency – is built on a lie
Over the years, whether it was during his time in show business or politics, Donald Trump has touted himself as a successful businessman.
Throughout the 2016 campaign, he claimed that his alleged business triumphs would translate into a successful presidency – and many Americans were fooled into believing him.
But as the tax documents obtained by the New York Times prove, it was all a lie.
Donald Trump is either a terrible businessman with a long line of embarrassing failures, or he’s a tax-evading criminal.
As Rachel Maddow said on Monday, “Which is it?”
Sean Colarossi currently resides in Cleveland, Ohio. He earned his Bachelor of Arts degree in Journalism from the University of Massachusetts Amherst and was an organizing fellow for both of President Obama’s presidential campaigns. He also worked with Planned Parenthood as an Affordable Care Act Outreach Organizer in 2014, helping northeast Ohio residents obtain health insurance coverage.