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Donald Trump dismisses reports involving Chicago Trump Tower
Donald Trump has long evaded the subject of his taxes and tax returns, and the New York Times has since published reports regarding the amounts he has paid and the debts Trump has incurred over the years. Recently, Trump dismissed another report by the Times about the Trump Tower project in Chicago.
The publication revealed that Trump had $237 million in loans written off since 2010, most of the amount was the debt Trump on the Chicago Trump Tower project. This was the latest revelation by the outlet in uncovering the debts, lawsuits, and loans made by Trump towards the project and part of its ongoing investigation that started from its first piece that revealed Trump only paid $750 in taxes in 2016 and 2017. Trump has since dismissed the scathing report on Twitter.
“As a developer long ago, and continuing to this day, the politicians ran Chicago into the ground. I was able to make an appropriately great deal with the numerous lenders on a large and very beautiful tower. Doesn’t that make me a smart guy rather than a bad guy?” tweeted Trump. “We’re very, very happy with what’s happened with respect to this building and how fast we put it up.”
The Times reported that because Trump’s lenders have forgiven $237 million in debts that he did not repay, most of which being debts on the Chicago Trump Tower project, it should be counted as income. This would result in the borrower issuing a big check to the IRS, but Trump appeased the forgiven debt with losses.
Meanwhile, former Trump administration official Miles Taylor has come forward to reveal himself as “Anonymous,” the one responsible for writing a scathing opinion piece criticizing Trump in 2018 and a book in 2019. Taylor served under the Trump administration as chief of staff in the Department of Homeland Security. Since leaving his post, Taylor has become a staunch critic of Trump and has encouraged other former and current administration officials to speak out against the president while also announcing support for his Democratic rival, Joe Biden.
Taylor released a written statement confirming his identity as the person behind the op-ed piece and book while also urging his fellow Republicans to put country first before political party.