The New York Times report of President Donald Trump‘s extreme monetary losses was quickly picked up by cable news hosts who pointed out the unmistakable irony of the self-declared businessman president’s decade of business failure.
CNN host Don Lemon, for example, called the president the “conman in chief” for concealing the tribulations of the Trump industry on Tuesday.
“His biggest con was pulling the wool right over your eyes, convincing voters that he would be the best dealmaker ever in the White House,” Lemon said Tuesday night.
“The man who ran for president on his reputation as a billionaire business genius was a really, really, really lousy businessman,” he added. “Literally the worst businessman in the country.”
Lemon’s statement wasn’t an exaggeration. According to the Times report, from 1985 to 1994, Trump’s finances were deepest in the red.
“In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer,” the report details.
The Times also points out that Trump’s substantial losses — totaling $1.17 billion over that time frame —allowed the president to avoid paying any income taxes for eight years.
“So President Trump, who claims to have pushed through the biggest tax cut in history — which, by the way, is not true — he didn’t pay a penny of income taxes for eight years,” Lemon said.
The CNN host went on to point out an “incredible bit of irony” that Trump released his book, “The Art of the Deal,” during this time of financial distress.
Watch the video below:
Trump and his team are denying the extent of the report, excusing it as both “fake” and as part of a bigger business tactic to report losses for tax write-offs.
….you would get it by building, or even buying. You always wanted to show losses for tax purposes….almost all real estate developers did – and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!
— Donald J. Trump (@realDonaldTrump) May 8, 2019
“You always wanted to show losses for tax purposes,” Trump tweeted Wednesday morning. “Almost all real estate developers did – and often re-negotiate with banks, it was sport.”