- PoliticsThe Wrap
Trump’s Tax Records Show Hundreds of Millions of Dollars in Debt, New York Times Reports
The New York Times has obtained Donald Trump’s tax information covering the past two decades and found that the president has paid a total of $1,500 in federal taxes since taking office and paid no income tax at all 10 of the previous 15 years because he reported losing more money than he made each year.President Trump has avoided releasing his tax records since before he secured the Republican nomination, but the New York Times reported Sunday that his tax information reveals his finances have been in trouble for 20-plus years.Among the issues, the New York Times says Trump is “beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed” and an audit disagreement with the IRS over the legitimacy of a $72.9 million tax refund that he received after claiming a loss.Also Read: Trump Lashes Out at Fox News After Poll Shows Him Down in Key StatesThe tax return data the New York Times obtained covers the hundreds of companies that fall under Trump’s business organization’s umbrella and does not include his personal returns from 2018 or 2019.If the IRS rules against him, it could cost Trump more than $100 million, the Times reports.The filings show what Trump “has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia.”“Most, if not all, of the facts appear to be inaccurate,” Alan Garten, a lawyer for the Trump Organization, told The Times in a letter summarizing its findings. Garten requested a copy of the documents on which the report is based but the outlet declined the request.“Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Garten said in a statement.Also Read: Trump Nominates Amy Coney Barrett to Replace RBG on the Supreme CourtThat assessment is struck down by The Times, which says Garten is combining income taxes with other federal taxes Trump paid, such as Social Security, Medicare and taxes for his household employees. Garten also stressed that some of what the president owed was “paid with tax credits.”The Times writes, “Together with related financial documents and legal filings, the records offer the most detailed look yet inside the president’s business empire. They reveal the hollowness, but also the wizardry, behind the self-made-billionaire image — honed through his star turn on ‘The Apprentice’ — that helped propel him to the White House and that still undergirds the loyalty of many in his base.”It adds, “Ultimately, Mr. Trump has been more successful playing a business mogul than being one in real life.”The team of New York Times reporters combed through the personal and corporate tax records for President Trump and his businesses in the U.S. and abroad, stretching from his time as a New York real estate developer to the beginning of his presidency. Additional articles are to come as they uncover more information in the documents.Also Read: Mary Trump Sues President Trump and Siblings for Fraud“We are publishing this report because we believe citizens should understand as much as possible about their leaders and representatives — their priorities, their experiences and also their finances,” New York Times executive editor Dean Baquet said in a letter to the public.“As a candidate and as president, Mr. Trump has said he wanted to make his tax returns public, but he has never done so. In fact, he has fought relentlessly to hide them from public view and has falsely asserted that he could not release them because he was being audited by the Internal Revenue Service,” Baquet went on.“The records show a significant gap between what Mr. Trump has said to the public and what he has disclosed to federal tax authorities over many years. They also underscore why citizens would want to know about their president’s finances: 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 New York Times had previously obtained Trump’s 1995 tax records, which suggested his $916 million loss on his 1995 income tax return could have “allowed him to legally avoid paying any federal income taxes for up to 18 years.” According to its reporting, the mismanagement of three Trump Atlantic City casinos, his failed venture in the airline business and a badly timed purchase of the Plaza Hotel in Manhattan caused the massive financial loss — but equally massive tax break.Read original story Trump’s Tax Records Show Hundreds of Millions of Dollars in Debt, New York Times Reports At TheWrap
- PoliticsThe Independent
White House staff discussed what may happen if Trump loses election and refuses to leave, ex-aide says
'The president, when he's joking … he's telling you a half-truth and in there is something fairly frightening and scary’
- CelebrityUSA TODAY
Fact check: Kentucky attorney general is not married to a relative of Mitch McConnell
Viral posts on Facebook falsely suggest that Kentucky Attorney General Daniel Cameron's wife is a niece or granddaughter of the powerful senator.
- WorldAssociated Press
South China Sea Watch: China holds drills amid new tensions
A look at developments in the South China Sea, where China is pitted against smaller neighbors in multiple territorial disputes over islands, coral reefs and lagoons. China is holding new military exercises in the South China Sea amid an uptick in tensions between the Asian giant and its Southeast Asian neighbors and the U.S. The Maritime Safety Administration issued a pair of announcements blocking off seas around the area of the exercises running Sunday through Monday but gave no additional details.
- ScienceAccuWeather
'We are not done': Tropics likely to blossom again in early October
AccuWeather meteorologists warn that another round of tropical activity is likely to return in October, despite the current and brief break in tropical systems across the Atlantic Ocean Basin."After what has been a very busy stretch of tropical activity in the Atlantic, things have seemed to quiet down for the time being," said AccuWeather Senior Meteorologist Rob Miller.There were no tropical cyclones spinning across the Atlantic on Thursday for the first time since Sept. 6, or the first time in 18 days. Additionally, the National Hurricane Center did not identify any areas that they were monitoring on Thursday for the first time since late August.Miller explained further that a shift in the jet stream, which is normal at end of summer and start of autumn, is partially to thank for the current lull in activity across the basin."When the jet stream starts to shift, it changes the weather pattern across the globe. In this case, high pressure over the central Atlantic has become stronger, helping to limit if not outright suppress thunderstorm activity across the tropical Atlantic for now," Miller added. This high pressure is helping to hold an elongated area of stronger wind shear in place across the middle of the Atlantic Ocean through the week. Wind shear is the change in direction and wind speed at increasing heights in the atmosphere. As a result, this is a major factor in suppressing tropical activity through the end of September.Tropical waves and disturbances, although typically less robust this time of year, will continue to push off the coast of Africa. But, the wind shear in place will squash most chances for those waves to become more organized.There will still be some small pockets of low wind shear and moisture scattered about the Atlantic basin, which could be just enough to allow pop-up tropical systems to take shape. However, no area in particular looks concerning at this time.CLICK HERE FOR THE FREE ACCUWEATHER APPThe current pause in tropical activity across the entire Atlantic Basin won't last long, forecasters warn."We are not done with tropical season, and there are some indications that the Atlantic Basin could come back to life in the western Caribbean or the Gulf of Mexico the first week or two of October," said Miller.Warm waters east of the Yucatan Peninsula to Jamaica combined with ample moisture could make this a breeding ground for tropical activity in October. The absence of that strong wind shear across the Caribbean Sea is also part of the reason that tropical development will be possible.The Caribbean, from the Leeward and Windward Islands to Central America and the Yucatan Peninsula of Mexico, climatologically speaking, is a favorable zone for tropical development in early autumn.Should a gyre form in this zone, it will increase the chances for development in early October.A gyre is a slow-spinning wind pattern that rotates counterclockwise. The spin from the gyre tends to create an area of low pressure. Sometimes the low pressure area can become more organized and grow into a tropical system, especially if a tropical disturbance from Africa is injected into it, or a non-tropical weather system happens to stall nearby.Whether an organized tropical system develops in this zone or not, the tropical waves are likely to deliver rounds of heavy rainfall.Moisture will come from two sources, one being a stalled front from the Yucatan Peninsula to southern Florida, and the other from incoming tropical waves from the eastern Caribbean. These two factors combing over the western Caribbean Sea are expected to result in rounds of tropical downpours for Jamaica and Cuba all the way to eastern Mexico, Belize and northern Honduras.With more than one wave of heavy rain expected during the first week of October, enough rain could fall in some areas to prompt flash flooding and even mudslides in the higher elevations into the second week of October.Interests, especially from Central America, northward to the Eastern Seaboard and Gulf Coast of the U.S. and Atlantic Canada, should not let their guard down. Forecasters urge those who live in hurricane-prone locations to have a plan in place and remain prepared should a system develop, especially during these uncertain times amid the pandemic, which has added challenges to storm preparations.The 2020 Atlantic hurricane season has already been one for the record books, including the number of storms that have formed so early in the season and the number of landfalls that have occurred in the United States. Forecasters say even more records may be broken during the anticipated ramp up in early October.Storms have been forming at a record pace this year, with Tropical Storm Cristobal as well as every named storm from Edouard through Beta beating previous early formation records in the Atlantic. Most of the records that have been knocked off the list had been set during the historic 2005 hurricane season, which generated a record-setting 28 named storms in one year. The 2005 season was the only other year in which Greek letters had to be used, with storms Alpha to Zeta being named. This season is on pace to tie or perhaps break the record number of storms to achieve tropical storm status or greater. Thus far, there have been 23 such storms this year. AccuWeather meteorologists predicted that 2020 will tie the previous seasonal record set with a total of 28 named storms now projected. More storms are likely to be given Greek letters for names in the coming weeks and perhaps even into December, beyond the official end of the Atlantic hurricane season on Nov. 30.There is another troublesome record that the 2020 season has broken. The U.S. has already experienced nine landfalls from tropical systems so far this year, which ties 1916 for the most in one season.Keep checking back on AccuWeather.com and stay tuned to the AccuWeather Network on DirecTV, Frontier and Verizon Fios.
- PoliticsBusiness Insider
John Legend says that Americans 'will have to start thinking about going somewhere else' if Trump is reelected
In an interview with Cosmopolitan UK, John Legend opens up about the 2020 election, saying that he believes America "is exhausted" from Donald Trump.
- LifestyleTown & Country
Outdated Home Trends We Hope Never to See Again
Please and thank you.From Town & Country
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