President Donald Trump has had more than $270 million in debt forgiven since 2010 after he failed to repay his lenders for a Chicago skyscraper development, The New York Times reported Tuesday.
An analysis of his tax records by the Times shows that after the Trump International Hotel & Tower in Chicago encountered financial problems, big banks and hedge funds cut Trump considerable slack, granting him years of additional time to repay his debts, much of which was ultimately forgiven.
Always a coward https://t.co/AfgeNx2ApJ
— MeidasTouch.com (@MeidasTouch) October 27, 2020
While some people said on social media stressed that this happened before Trump became POTUS, some still thought it will affect even Republicans' trust in the president.
With apologies to every Republican candidate I have ever worked for....
I have never felt better to cast a ballot for anyone than I did for @JoeBiden just now.
I hope the high road leads us home again. We can do this. ?? pic.twitter.com/VbeuNPGGgL— Tim Miller (@Timodc) October 28, 2020
In both the year he won the presidency and his first year in the White House, Trump paid just $750 in federal income taxes, the Times reported.
While Trump denied the New York Times story and claimed that he pays "a lot" in federal income taxes, another news report citing Axios stated that he does not seem to have a second-term economic plan.
LISTEN: @larry_kudlow lists President Trump's economic goals in response to an Axios report, headlining 'Trump doesn't have a second-term economic plan' #nine2noon pic.twitter.com/NUWGwUr3Q7
— America's Newsroom (@AmericaNewsroom) October 26, 2020
Will Trump survive all these allegations and still manage to become the 47th president of the US, only a week to find out.
