I’m only halfway through the New York Times 10,000 word investigative report on Trump’s taxes.
So far, my favorite part is these seemingly innocuous paragraphs:
“To see what a successful business looks like, depreciation or not, look no further than one in Mr. Trump’s portfolio that he does not manage.
After plans for a Trump-branded mini-city on the Far West Side of Manhattan stalled in the 1990s, Mr. Trump’s stake was sold by his partner to Vornado Realty Trust. Mr. Trump objected to the sale in court, saying he had not been consulted, but he ended up with a 30 percent share of two valuable office buildings owned and operated by Vornado.
His share of the profits through the end of 2018 totaled $176.5 million, with depreciation factored in. He has never had to invest more money in the partnership, tax records show.”
One of Trump’s only successful business ventures was successful because he lost ownership of it. But the joke of course is on us because he’s doing to our country exactly what he’s done to the vast majority of his businesses.