Republican presidential candidate has managed to secure the nomination for president by selling his supporters a bag of bullshit about being a self-made billionaire who speaks his mind and tells the truth. He tells them that voters should cast their ballots for him because he nobody owns him. The New York Times, however, has uncovered hundreds of millions of dollars that proves that like everything else he says, his declarations of not being beholden to anyone is a big fat lie.
[An] investigation by The New York Times into the financial maze of Mr. Trump’s real estate holdings in the United States reveals that companies he owns have at least $650 million in debt — twice the amount that can be gleaned from public filings he has made as part of his bid for the White House. The Time’s inquiry also found that Mr. Trump’s fortunes depend deeply on a wide array of financial backers, including one he has cited in attacks during his campaign.
According to the report, Trump lied in his financial disclosures early on in the campaign when he claimed to have roughly $315 million in debt. Instead, they found that the real estate mogul seems to have filed a form “designed for candidates with simpler finances than his.” By doing so he managed to avoid disclosed portions of business activities that would have revealed the enormity of his debt.
In addition to that, the presidential candidate has refused to allow an independent valuation of his empire that would show just how much his net worth really is. And we all know that he has said over and over that he will not be releasing his tax returns.
Although it is to be expected that with a real estate as massive as Trump’s he will have an enormous amount of debt, it is also equally as important to recognize the real reason he may want to sit in the Oval Office: he will be in the perfect position to influence the tax laws that will benefit his own personal wealth.
Mr. Trump’s opaque portfolio of buisness ties makes him potentially vulnerable to the demands of banks, and to the business people in the United States and abroad, said Professor [Richard] Painter, the former chief White House ethics lawyer.
“The success of his empire depends on an ability to get credit, to get loans extended to his business entities,” he said. “And we simply do not know a lot about his financial dealings, here or around the world.”
The only person Donald Trump wants to help is Donald Trump. There is a reason why he does not want Americans to know the ins and outs of his finances because if his supporters truly understood just how much being President of the United States would help his own bank account, it is unlikely that the block of voters he desperately needs (Independents and educated whites) would ever vote for him. We all know that Trump does not want to be president because he truly believes he will “make America great again.” He has proven time and time again that he has no actual plans to do anything for the country and when he is asked about specifics he says, “trust me, we’re going to be winners,” or “I don’t want people to steal my ideas.” Those are the answers of someone who truly has no idea what he is doing, but his supporters are buying it.
Read the entire financial profile HERE.
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