The New York Times dropped a massive political bombshell on Sunday with the publication of in-depth analysis of President Donald Trump’s personal and business tax returns over several decades that were leaked to them. The Times found that in 2016 and 2017 he paid a mere $750 per year in federal income taxes—a fraction of what most people in his income bracket and far lower pay. The Times, which did not have returns for 2018 and 2019, also revealed that, “in 2010 he claimed, and received, an income tax refund totaling $72.9 million — all the federal income tax he had paid for 2005 through 2008, plus interest.” He is currently battling the IRS over that tax refund and could owe back the taxes. Additionally, the President is hundreds of millions of dollars in debt that he has personally guaranteed and that will be due in the next few years. Although Trump has claimed for years that he became President out of a civic duty, the tax returns paint a picture of a failed businessman who was desperate to revive his star power in order to leverage it to stay financially afloat. According to the Times, Trump now, “depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.” Among the other jaw-dropping revelations from the leak of Trump’s tax returns are the fact that, “Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television.” And, he has paid his own daughter Ivanka Trump a consulting fee in order to lower his tax bill. The New York Times’ Executive editor Dean Baquet explained that, “Mr. Trump’s businesses appear to have benefited from his position, and his far-flung holdings have created potential conflicts between his own financial interests and the nation’s diplomatic interests.”
The President predictably dismissed the Times’ reporting as “fake news,” but also that the IRS treats him badly. He faced harsh criticism from all corners of social media. New York Congresswoman Alexandria Ocasio-Cortez tweeted, “In 2016 & ‘17, I paid thousands of dollars a year in taxes *as a bartender.* Trump paid $750. He contributed less to funding our communities than waitresses & undocumented immigrants.” California Representative Ted Lieu called the President, “a massive fraud,” who, “grossly mismanaged his businesses & personal finances the same way he mismanaged our government: by repeatedly lying and conning those around him.”
The other big news over the weekend was not so surprising. President Trump officially nominated Judge Amy Coney Barrett for the newest member of the U.S. Supreme Court to replace the late Justice Ruth Bader Ginsburg. The GOP wasted no time in printing T-shirts with the words “Notorious A.C.B.” to promote Barrett with a play on the pop-culture reference that Ginsburg was fondly known by. Senator Lindsey Graham who has been excoriated for his hypocrisy on a...