XPost: alt.survival, alt.politics.usa, talk.politics.misc
XPost: alt.fan.rush-limbaugh
Trump's chinese bank account.
Report: Trump Paid Nearly $200,000 In Taxes To China
https://www.forbes.com/sites/roberthart/2020/10/21/report-trump-paid- nearly-200000-in-taxes-to-china/
A report from the New York Times reveals a decade of Donald Trump�s unsuccessful business activities in China, including an undisclosed bank account that paid nearly $200,000 in taxes, undermining his own
exaggerated claims of Hunter Biden�s business dealings there, as well as
his rhetoric that his Democratic opponent, Joe Biden, is soft on the
country.
U.S. President Trump Visits China
The New York Times reveal a decade of the president's business activities
in China Getty Images
Key Facts
Tax records analyzed by the New York Times reveal a decade of unsuccessful business activity in China by the president, including an unreported bank account that paid $188,561 in taxes between 2013 and 2015.
The account does not show up on Trump�s public financial disclosures as it
is not a personal asset, but instead controlled by Trump International
Hotels Management.
A lawyer for the Trump Organization told the Times that the account was
opened to pay taxes after opening an office in China to �explore the
potential for hotel deals in Asia.�
PROMOTED
No deals, or other business activities, were ever made, the lawyer said.
The records also show that Trump invested at least $192,000 to pursue
business in China, including creating five companies specifically designed
to pursue that goal.
These companies have claimed at least $97,400 in business expenses since
2010, the Times said.
Key Background
Recent reporting by the Times, who obtained years of the president�s tax records, shows the president paid only $750 in federal income taxes for
the years 2016 and 2017, spending years previously avoiding paying any
federal income tax at all because he lost more money than he�d made. The revelation of foreign bank accounts, which also include those in Britain
and Ireland, are likely to raise further questions over the president�s finances. A decade of dealings in China, successful or otherwise, are
likely to raise further questions over the president�s conflicts,
particularly as the president has consistently attacked China�s handling
of the coronavirus pandemic, and exacerbated an ongoing trade war by blacklisting major Chinese tech firms.
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