Republican presidential nominee Donald Trump sells his business experience to the American people as one of the main reasons why they should vote for him. He has made billions of dollars, and crafted major deals with individuals around the world while churning massive profits. Or so he would like the public to believe, but a new look at his financial disclosures show a different story entirely.
Trump’s golf resort in Doral, Florida allegedly generated $50 million in profit in 2014. That is what Trump announced to the world. However, that was only part of the story. Trump allows his views on reality to be altered based on the prevailing winds of the time. As it happens Trump was involved in a tax dispute for the resort, and was forced to disclose the resort’s finances are part of the court proceedings. Trump’s lawyer presented an income and expense statement that show the resort did make $50 in revenue, but that to run the resort for a year the cost was $52.4 million. Meaning that the resort had actually lost $2.4 million over the year, instead of generating a massive profit.
There is other evidence of Trump’s fluffing numbers to outrageous proportions. Trump stated that his ice skating arenas brought in $13 million a year, but a 2011 audit by New York City found that they had only made $25,340 after expenses. The same is true for Trump’s building at 40 Wall Street. Trump claimed to have made $20 million in rentals, but it turned out he only earned $3 million in 2015. However, the property had lost $5 million a year on the property from 2008 to 2014. After losing $30 million, Trump gained back 10% of his losses after 6 years.
All of this evidence shows Trump is a serial liar, and has no interest in ever telling the truth about his finances. He cannot be trusted with disclosure forms and therefore he certainly can not be trusted in the Oval Office.