• The Financial District


David Cay Johnston, the journalist who exposed US President Donald Trump’s gaming the tax system, said Trump raked in $153 million in a single year but paid only $750 income tax in 2016 and the same sum the following year. That amount is less than the average monthly rent paid by Americans, which was $1,023 in 2018, he said in his column for Raw Story.

“That Trump is a serious tax cheat is no surprise to my readers. Four years ago, I revealed that Trump lost two income tax fraud trials. He fabricated a consulting business in 1984. It showed no revenue, yet Trump claimed more than $600,000 in deductions. He could not produce a single receipt. Trump’s longtime tax lawyer and accountant, Jack Mitnick, testified during one of the two civil fraud trials that Trump forged the tax return. Mitnick was Trump’s witness, by the way, showing just how much chutzpah Trump has,” Johnston stressed. “The forgery testimony would have justified a criminal charge. It was also part of a pattern. In 1983, Mayor Ed Koch took note of Trump’s multiple sales tax frauds. The mayor said Trump belonged behind bars. One New York City audit of his first big project, the Grand Hyatt in Manhattan, showed Trump hid and destroyed records so he could cheat the city out of $3 million a year,” he added.

“In just two years, 2008 and 2009, Trump took $1.4 Billion in tax deductions. Note that B. Nothing in The Times report suggests he had assets and income that would justify such huge write offs. The paper also showed that Trump took deductions for his oldest son’s personal legal bills, a definite no-no. He deducted more than $70,000 for his hair styling. And he gave his daughter Ivanka more than $700,000. The president called the money Ivanka got a fee, but it looks like a disguised gift in which Trump both evaded the gift tax and took a deduction as a business expense. That’s also a no-no,” Johnston noted.

“What Trump did learn long ago from his mentor and “second father,” the notoriously corrupt lawyer Roy Cohn, was to lie, cheat, steal and never ever apologize or concede any fact. Just tie the authorities up for years and make them pour their limited resources into a case so they will give up and cry uncle – that’s the Roy Cohn way,” the award-winning journalist concluded.

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