Revealed today when three years of Donald Trump's taxes were finally released into
the public is that he had some bank accounts not located
inside of the United States.
So for instance between 2015 to 2020,
he'd a bank account that was in the UK, along the way there was Ireland I believe.
Specifically for our talk though between 2015 and 2017,
he had bank accounts listed that were in China.
And interestingly enough,
that also came up in a debate in the last presidential election.
Take a look at this.
>> You've never invested from your business.
You've personally promoted your properties abroad.
A report this week,
which was referenced does indicate that your company has a bank account in China.
So how can voters know that you don't have any foreign conflicts of interest?
>> The bank account you're referring to, which everybody knows about it,
it's listed.
The bank account was in 2013.
That's what it was. It was closed in 2015 I believe.
And then I decided because I was thinking about doing a deal in China like millions
of other people.
I was thinking about it, and I decided I'm not gonna do it, didn't like it.
I decided not to do it.
Had an account open, and I closed it.
>> So according to him,
in the time that he's talking about it had already been closed for a year and
a half, that wasn't true it lasted into the first year of his presidency.
Now, did that affect anything?
Did it influence the way that he dealt with China?
I don't know, I don't have any specific evidence to that effect, but
he was either completely mistaken about a foreign bank account in his name or
he's openly lying about it.
And it would be one thing if it was just an oversight or something like that.
But bear in mind, the topic of China was pretty important for
Donald Trump at that point when they were doing that debate because they were
smearing Biden at that point as a puppet of China, specifically saying,
you couldn't trust Joe Biden because of his business connections with China.
That was a big talking point on the right.
Biden's income tax returns and financial disclosures,
which did not require three years of conflict to get, he just put them out,
show no business dealings or income from China.
So this feels less like an oversight and more like just projection.
He is putting on to Joe Biden the things that he knows he was trying to cover up.
>> Yes, so he apparently had about $55 million in gross income
from more than a dozen countries.
But look to be fair, would Donald Trump really take his own
personal financial interest and put it above others?
[LAUGH] Of course, of course he would.
God, aren't right wingers unbelievable?
If Bernie Sanders did all this stuff where he's like, wow, I got a favor this
country and that country, and I'm never gonna pay any goddamn taxes and
lie after lie after lie, he wouldn't still be considered the leader of progressives,
not within a country mile, no way, right?
But the right wing, every time they see another outrageous, by the way lies where
he rips them off, because we're all paying taxes, including the MAGA chud heads.
They're sitting there paying taxes and taxes and taxes, and then Trump goes, and
he said it again today, John, I mean in the released today
shows how good a businessman I am, that I make no money at all.
And did I pay no taxes, [LAUGH] even though I'm worth $4 billion?
No, that doesn't show that you're a good businessman.
That shows one of two things and maybe both.
One, you're an awful businessman, you never ever make money.
All you have is literally decades of losses.
And by the way there's some truth to that, there's a lot of truth to that.
Remember his dad gave him $413 million, and he lost all of it.
So when he's deducting the taxes for losses,
that part is the only part that's actually true,
because he sucks in business, he never makes any Goddamn money.
Only two things he's ever made money from his dad,
that's why he's Donny boy, whenever he went bankrupt he go crying to daddy,
daddy I lost the money again, right?
And then the other thing was the $400 million he made from NBC
cuz of the apprentice.
And was that really his doing?
No, he was a sad little puppet.
The producers put up there like he's famous.
He's a well known clown.
Okay, idiot, this is the line you say.
You're fired, okay?
They fed him all of his lines.
He could have been anybody.
He could have put in anybody there.
He is so useless and somebody got an unbelievable amount of money from that.
What did you do with a 400 million?
He lost it, he lost it.
He's such an idiot.
And this is who the right wing looks up to.
So, either he's a terrible businessman or he's a giant tax cheat,
and while you pay your taxes, he doesn't, and he rubs it in your face.
Either way, that's gotta be a chud head to root for this guy, you really.
I mean, why don't you just tell him, punch me in the face while you're at it.
He would, he would gladly do it and MAGA guys would probably love it.
>> Yeah, I think you touched on it, Cenk.
I think what we're really seeing in these tax returns
is how he exploits the deduction system.
And when you do it to that great of an extent where you're paying nothing or
$700 on millions of income, he's not a billionaire, but
he's still bringing in millions every single year,
it just shows how easy it is for the wealthy to exploit that system.
And from the looks of it, his accountants bury the IRS in paperwork,
his return each year is several hundred pages long.
And with an understaffed IRS and
tons of political implications if they do audit him, that could look bad for them.
But he just makes it extremely difficult to verify all of these write-offs and
deductions that he's claiming every year.
So if we really wanted to create a level playing field that's a great place to
start.
And I agree with Cenk, he's probably not going to face any punishment for this, but
if they do,
it does seem like the greatest likelihood would be how they got Al Capone.
He's just tax fraud, he's claiming things on these deductions that don't really
seem to add up, a $40,000 speech with 38 some thousand dollars and expenses.
That doesn't seem realistic.
>> Yeah and- >> Yeah,
I gotta add one thing to what Jordan's saying.
Look, I don't want anybody to misinterpret me.
If you actually cared about justice, would you prosecute this guy?
Of course.
Would you have ample evidence from these tax returns?
Absolutely.
Look, he has pages of pages of deductions that he calls other business expenses.
That's not a thing.
Okay, so if you did that, would you be prosecuted?
Hell yes you would, you would definitely be prosecuted.
Okay, but here's a hilarious example.
Here's DJT Aerospace LLC, Aerospace,
I didn't know he built rockets to go into space.
No, it's for a stupid helicopter, and he rents out the helicopter and
he actually makes money from it.
In fact, in 2017 he made $42,965.
Now, do you wanna know what he said his expenses were for the helicopter?
$42,965.
[LAUGH] That's not a thing.
Your expenses don't magically equal to the dollar your revenue from something.
So if you see that as an IRS Agent, that's not like a little red flag,
that's like a giant wash red flag.
I am cheating.
I am a lawyer, you should definitely put me in jail, right?
And [LAUGH] of course since he's relatively rich until he burns
through the next set of money that he has, and he's of course very very powerful.
So I mean the IRS Agents probably had spent a new deduction themselves around,
it depends for everyone.
They're supposed to audit the president,
no matter who the president is every single year, except they were cowards.
They've been cowards for over a decade.
Are you ever gonna audit the guy and publish it and
hold them to account, or are you all unbelievable cowards at the IRS?
And their answer is of course when it comes to the elite and the powerful,
they'll stand down, they'll stand down.
You, they'll crush into oblivion.
>> Yeah, a couple of really quick facts.
And then I have a question for you.
So one is when he references paying millions of dollars in income taxes during
the period that Chris Wallace was talking about.
That's an exaggeration no matter how you look at it.
But there is one way in which is almost kind of true.
He did pay $1 million in 2017 in foreign taxes.
He paid less than 1000 into the US, more than a million dollars internationally.
And he didn't do it because he was feeling charitable, as we'll get to,
he did it because the law demanded it.
You can set up laws to require rich people to pay taxes.
And in that case,
even someone as paying-averse as Donald Trump will actually do it.
Our laws could look like that.
He could have been paying these millions of dollars over the last 20 years but
we just choose not to, okay?
Different choices between different countries.
Also by the way, they did get into his charitable giving,
he constantly talked about how charitably was.
In 2019, he did actually give about $500,000.
I mean God only knows if that was actually cash or
what he was considering charity but he did give some money then, none in 2020.
But it was a pretty easy year, everyone was doing good.
They didn't need any help I guess.
By the way, he said that he donated his over $400,000 a year presidential salary
every year of his presidency.
What happened in 2020?
Maybe he was worried about not being able to find another
job after he lost re-election, I don't know.
Also, I only mentioned this because it does contain at least an implicit
threat but he has responded to this being released.
Do you interest in that?
>> Sure, [LAUGH] >> I mean it could lead to
an insurrection.
So I suppose we should get to it.
Here's what Donald Trump- >> But I don't think it's going to though,
go ahead.
>> Sure, I think in this particular case,
I don't think his fans are gonna be all that defensive towards him.