When Donald Trump signed his tax cut bill (his single legislative achievement in 17 months in office, he insisted that the breaks would hurt wealthy people like him and help only middle class America. As in so many other statements he’s made, he lied.
— Katie Porter (@katieporteroc) December 24, 2017
One tax break he won’t be receiving anymore, however, is a $48,000 deduction on his New York City Trump Tower condominium. According to the NY Daily News:
‘A homeowner is only eligible for the tax break if the condo is his primary residence — which the city’s tax rules define as “the dwelling unit in which the owner of the dwelling unit actually resides and maintains a permanent and continuous physical presence.”
‘Trump hasn’t kept a “permanent and continuous physical presence” in the swanky apartment — he moved to the White House upon his inauguration Jan. 20, 2017.’
President Trump's $48,000 tax break on his Trump Tower condo were wiped by New York City.
President Trump was set to receive his tax break on Tuesdayhttps://t.co/nhTMPFvOsq
— TheResistance Report (@AntiTrumpReport) July 6, 2018
There’s no indication, however, that Trump and his accountants would have ever stopped claiming the exemption if the news outlet hadn’t contacted the IRS to ask why that particular exemption had not been removed. The city of New York removed it once they had been alerted.
I find it mind-boggling that people still support Donald Trump. He’s told his supporters that he will “Be hurt, believe me,” By the tax scam bill, but all independent sources say he will profit immensely. How can they be MORONIC enough to support TRUMP/GOP’s LYING & ROBBING them? pic.twitter.com/7cSHh2eC0A
— Bob Burnell Ed.S. (@bob_burrell) December 21, 2017
Donald Trump remains the only president in modern history to fail to disclose his tax returns to the public. Despite insistence during the campaigns that he would be happy to release them if he were elected, he has still not done so. The IRS responded to his claims that he was unable to release them while under audit (although they legally cannot confirm if he really is under audit) by saying that this would not prevent him from releasing the information.
A criminal audit of Mr. Trump's state tax returns would reveal whether or not Mr. Trump engaged in money laundering for Russians and others and whether he fully reported profits from his more than 500 business organizations. https://t.co/ubKgtbzy4A
— NYT Opinion (@nytopinion) July 5, 2018
Meanwhile, the Clintons, who Trump said were shady and even many news outlets claimed lacked transparency, their tax returns have been public for many years.
Featured image via Getty/Justin Sullivan