XPost: alt.survival, alt.politics.usa, talk.politics.misc
XPost: alt.fan.rush-limbaugh
Trump's chinese bank account.
Report: Trump Paid Nearly $200,000 In Taxes To China
https://www.forbes.com/sites/roberthart/2020/10/21/report-trump-paid- nearly-200000-in-taxes-to-china/
A report from the New York Times reveals a decade of Donald Trumps unsuccessful business activities in China, including an undisclosed bank account that paid nearly $200,000 in taxes, undermining his own
exaggerated claims of Hunter Bidens business dealings there, as well as
his rhetoric that his Democratic opponent, Joe Biden, is soft on the
country.
U.S. President Trump Visits China
The New York Times reveal a decade of the president's business activities
in China Getty Images
Key Facts
Tax records analyzed by the New York Times reveal a decade of unsuccessful business activity in China by the president, including an unreported bank account that paid $188,561 in taxes between 2013 and 2015.
The account does not show up on Trumps public financial disclosures as it
is not a personal asset, but instead controlled by Trump International
Hotels Management.
A lawyer for the Trump Organization told the Times that the account was
opened to pay taxes after opening an office in China to explore the
potential for hotel deals in Asia.
PROMOTED
No deals, or other business activities, were ever made, the lawyer said.
The records also show that Trump invested at least $192,000 to pursue
business in China, including creating five companies specifically designed
to pursue that goal.
These companies have claimed at least $97,400 in business expenses since
2010, the Times said.
Key Background
Recent reporting by the Times, who obtained years of the presidents tax records, shows the president paid only $750 in federal income taxes for
the years 2016 and 2017, spending years previously avoiding paying any
federal income tax at all because he lost more money than hed made. The revelation of foreign bank accounts, which also include those in Britain
and Ireland, are likely to raise further questions over the presidents finances. A decade of dealings in China, successful or otherwise, are
likely to raise further questions over the presidents conflicts,
particularly as the president has consistently attacked Chinas handling
of the coronavirus pandemic, and exacerbated an ongoing trade war by blacklisting major Chinese tech firms.
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