Donald Trump had losses of $1.17 billion over a decade

President Donald Trump speaks during a meeting in the Oval Office on May 3

Now they're back with another document-based investigation that is even more devastating to Trump's facade of competency, focusing on his rise in the 1980s and 1990s. "In fact, year after year, Trump appears to have lost more money than almost any other individual American taxpayer, The Times found when it compared his results with detailed information the IRS compiles on an annual sampling of high-income earners".

In 1990 and 1991, Trump's core business losses were more than $250 million each year - more than double those of the closest taxpayers in those years, the Times reports. "So, in a very real way, the Trump tax cuts are vindicated by The New York Times story". "That is why the president has always scoffed at the tax system and said you need to change the tax laws". The worst two years of the period were 1990 and 1991, with $517.6 million in combined losses. Trump sold himself to voters as a master deal maker, who could bring the same success to the country as he did to his businesses. "We need to know now".

There was another noteworthy finding in Trump's taxes.

The Times has previously reported on parts of Trump's tax returns from his 1995 filings after receiving some of the pages in the mail.

This is the dumbest time in human history. A crucial detail is that Trump reported his business income as "pass through" - a category that passes a business' gains or losses on as personal income gains or losses to the owner, rather than taxing them separately under the corporate income tax.

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For eight of those ten years, Trump avoided paying income taxes entirely. "He dominated the real estate, commercial real estate in NY for a generation".

Hell, in 2015, one of Trump's businesses admitted to financial fraud and paid what was, at the time, the largest fine ever to a casino for violating "long standing anti-money laundering violations".

That's what makes him so uniquely American.

The White House has also responded to the Times' report in multiple statements, which Buettner and Craig characterize as having "shifted over time".

"So if he made an investment, let's say, bought a hotel for $200 million and he had to get rid of it and he had to pay off the debt that he used to acquire the hotel and it can only sell it for $50 million, he can take that $150 million loss and spread it out against other income coming to him", he said, adding that "he would be insane not to do that". Given that his very real success is built upon a bedrock of vast financial fraud bequeathed unto him by his father, Trump is simultaneously capitalism's biggest victor and biggest loser of all time.

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