NEW YORK (Web Desk) – A number of questions have arisen recently about the financial integrity of billionaire businessman and US presidential candidate Donald Trump, after federal court ruled against the Republican hopeful on two tax appeals that he filed in the 1990s.
Donald Trump appears to have paid zero, or near-zero, in personal income taxes for at least two years in the early 1990s, according to records from New Jersey’s gambling authorities reviewed by POLITICO.
Trump’s avoidance of income taxes as described in the documents was not illegal but the result of significant losses his hotel and casino holdings sustained during an economic downtown. “Welcome to the real estate business,” Trump said in an email, responding via his spokeswoman, when asked about not paying income taxes in the early 1990s.
Trump’s lifestyle didn’t suffer terribly during the era though. But his creditors did force him to live within an allowance — of $450,000 per month, US media reported.