UPDATED 10:00 AM PT — Wednesday, May 8, 2019
President Trump took to Twitter to defend a decade worth of his tax returns, which were recently published by the New York Times. On the Wednesday, president fired back at the media outlet for publishing what he called “old and inaccurate information” concerning his 1985 to 1994 tax returns.
In a tweet, President Trump said it was normal practice back then for real estate developers to show losses for “tax purposes.” He said massive write-offs and depreciation during active building tended to show large deficits. President Trump has continued to emphasize his ability as a business and national leader.
….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
This comes as House Democrats fight the Trump administration over the release of the president’s tax returns.
“I’ve built a great company, one of the best companies that have some of the greatest assets in the world. I did a good job and now, frankly, I don’t care about them — I only care about the United States. I have no obligation to do that while I’m under audit, and no lawyer would tell you to release your tax returns while you’re under audit.” — President Trump
On Tuesday, the New York Times somehow obtained the president’s IRS tax information, which revealed he lost over a billion dollars over a ten-year period.