"THE 11th HOUR" WITH BRIAN WILLIAMS STARTS NOW.
>>> WELL, GOOD EVENING ONCE
AGAIN.
DAY 1,348 OF THE TRUMP
ADMINISTRATION.
36 DAYS REMAIN UNTIL THE
PRESIDENTIAL ELECTION.
22 HOURS REMAIN UNTIL THE START
OF THE FIRST PRESIDENTIAL DEBATE
IN CLEVELAND, OHIO, TOMORROW
EVENING.
DONALD TRUMP AND JOE BIDEN ARE
FACING OFF IN THE WAKE OF
STUNNING AND EXHAUSTIVE
REPORTING FROM "THE NEW YORK
TIMES."
THE PAPER HAS INVESTIGATED 20
YEARS OF DONALD TRUMP’S TAX
RETURN DATA, WHICH THE PAPER
SAYS WAS OBTAINED THROUGH LEGAL
AND CONFIDENTIAL MEANS.
NOTABLY NBC NEWS HAS NOT
INDEPENDENTLY REVIEWED THE
DOCUMENTS THAT FORM THE BACKBONE
OF THE INVESTIGATION.
THE REPORTING NOT ONLY OFFERS AN
IN-DEPTH VIEW OF TRUMP’S
AGGRESSIVE MANAGEMENT OF TAX
STRATEGIES TO GET HIS PAYMENT AS
LOW AS POSSIBLE, IT ALSO
SUGGESTS TRUMP MAY BE OUTRIGHT
CHEATING.
IT DETAILS CRIPPLING LEVELS OF
DEBT AND A FAMILY BUSINESS THAT
IS LARGELY FAILING.
"THE TIMES" NOTES THE POTENTIAL
FOR BANKRUPTCY AS WELL AS FRAUD
CHARGES WHILE ALSO NOTING THAT
THE PRESIDENT COULD BE AT RISK
FOR BLACKMAIL.
QUOTE, AS THE PRESIDENT WAGES A
RE-ELECTION CAMPAIGN THAT POLLS
SAY HE IS IN DANGER OF LOSING,
HIS FINANCES ARE UNDER STRESS,
BESET BY LOSSES AND HUNDREDS OF
MILLIONS OF DOLLARS IN DEBT
COMING DUE THAT HE HAS
PERSONALLY GUARANTEED.
ALSO HANGING OVER HIM IS A
DECADE-LONG AUDIT BATTLE WITH
THE INTERNAL REVENUE SERVICE
OVER THE LEGITIMACY OF A
$72.9 MILLION TAX REFUND THAT HE
CLAIMED AND RECEIVED AFTER
DECLARING HUGE LOSSES.
AN ADVERSE RULING COULD COST HIM
MORE THAN $100 MILLION.
"THE TIMES" ALSO REVEALED DONALD
J. TRUMP PAID $750 IN FEDERAL
INCOME TAXES THE YEAR HE WON THE
PRESIDENCY.
IN HIS FIRST YEAR IN THE WHITE
HOUSE, HE PAID ANOTHER $750.
HE PAID NO INCOME TAXES AT ALL
IN 10 OF THE PREVIOUS 15 YEARS,
LARGELY BECAUSE HE REPORTED
LOSING MUCH MORE MONEY THAN HE
MADE.
THE REPORT POINTS OUT TRUMP HAS
PAID OTHER KINDS OF FEDERAL
TAXES LIKE MEDICARE AND SOCIAL
SECURITY.
ON THE MATTER OF TRUMP’S DEBTS,
"THE TIMES" REPORTERS WRITE
THIS.
QUOTE, MR. TRUMP HAS REPORTED
LOSSES AT MANY OF HIS SIGNATURE
PROPERTIES, INCLUDING
$55.5 MILLION AT HIS WASHINGTON
HOTEL, SINCE IT OPENED IN 2016
AND $315.6 MILLION AS HIS PRIZED
GOLF RESORTS SINCE 2000.
HE APPEARS TO HAVE SOLD OFF MOST
OF HIS STOCKS AND HAS RELIED
HEAVILY ON DEBT.
MORE THAN $300 MILLION IN LOANS
HE PERSONALLY GUARANTEED WILL
SOON COME DUE.
IT’S WORTH POINTING OUT THAT
MOST SECURITY EXPERTS HAVE
POINTED OUT TRUMP’S STAGGERING
LEVEL OF DEBT WOULD MAKE HIM
UNABLE TO SECURE ANY KIND OF
GOVERNMENT SECURITY CLEARANCE
WERE HE NOT THE PRESIDENT.
"THE TIMES" HIGHLIGHTS THAT,
QUOTE, WITH FINANCIAL CHALLENGES
MOUNTING, MR. TRUMP DEPENDS ON
BUSINESSES THAT CAN POSE A
CONFLICT OF INTEREST.
HIS PROPERTIES HAVE BECOME
BAZAARS FOR COLLECTING MONEY
FROM FOREIGN AOFFICIALOFFICIALS,
EARNED MILLIONS IN LICENSING
FEES FROM INTERNATIONAL PROJECTS
IN HIS FIRST TWO YEARS IN
OFFICE, INCLUDING $3 MILLION
FROM THE PHILIPPINES,
$2.3 MILLION FROM INDIA,
$1 MILLION FROM TURKEY.
"THE TIMES" SAYS IT EXPECTS TO
HAVE MORE REVELATION IN COMING
DAYS, AND INDEED JUST TONIGHT A
FOLLOW-UP STORY DROPPED ON
DONALD TRUMP’S MONEY-MAKING
EFFORTS IN REALITY TELEVISION
AND PUTTING HIS NAME ON PRODUCTS
FROM LAUNDRY DETERGENT TO
MATTRESSES TO COLOGNE.
THE PAPER REPORTS IN PART,
QUOTE, THE NEW INFLUX OF CASH
HELPED FINANCE A BUYING SPREE
THAT SAW HIM SNAP UP GOLF
RESORTS, A BUSINESS NOT KNOWN
FOR EASY PROFITS.
INDEED, THE TAX RECORDS SHOW
THAT HIS GOLF PROPERTIES HAVE
BEEN HEMORRHAGING MILLIONS OF
DOLLARS FOR YEARS.
LAST NIGHT TRUMP OFFERED A
FAMILIAR RESPONSE WHEN ASKED
ABOUT THE INITIAL "TIMES" STORY
POSTED JUST MOMENTS BEFORE HE
ENTERED THE BRIEFING ROOM.
>> IT’S FAKE NEWS.
IT’S TOTALLY FAKE NEWS, MADE UP,
FAKE.
WE WENT THROUGH THE SAME
STORIES.
YOU COULD HAVE ASKED ME THE SAME
QUESTIONS FOUR YEARS AGO.
I HAD TO LITIGATE THIS AND TALK
ABOUT IT.
TOTALLY FAKE NEWS.
NO.
ACTUALLY, I PAID TAX, BUT -- AND
YOU’LL SEE THAT AS SOON AS MY
TAX RETURNS -- IT’S UNDER AUDIT.
THEY’VE BEEN UNDER AUDIT FOR A
LONG TIME.
THE IRS DOES NOT TREAT ME WELL.
>> TODAY AT TWO DIFFERENT WHITE
HOUSE EVENTS, TRUMP CHOSE TO
TAKE NO QUESTIONS.
>> THANK YOU VERY MUCH,
EVERYBODY.
THANK YOU.
>> IN JUST THE LAST HOUR ON THIS
NETWORK, VICE PRESIDENTIAL
CANDIDATE, CALIFORNIA DEMOCRATIC
SENATOR KAMALA HARRIS NOTED THE
NATIONAL SECURITY IMPLICATIONS
OF TRUMP’S REPORTED DEBTS.
>> THE AMERICAN PEOPLE DESERVE
TO HAVE A FULL ACCOUNTING OF THE
FINANCIAL INTEREST, INCLUDING
THE INDEBTEDNESS OF THE
PRESIDENT OF THE UNITED STATES.
AND I -- AND I DO SHARE IN THAT
CONCERN.
WHO DOES HE OWE THE MONEY TO?
DO YOU OWE DEBT TO ANY FOREIGN
NATION?
DO YOU OWE ANYBODY MONEY WHO IS
IMPACTED BY ANY DECISION YOU
MAKE AS PRESIDENT OF THE UNITED
STATES?
THE AMERICAN PEOPLE HAVE A RIGHT
TO KNOW THAT WHEN THE PRESIDENT