TrendsWide
[email protected]
Contact
  • Home
  • News
  • Politics
  • Business
  • National
  • Culture
  • Opinion
  • Lifestyle
  • Sports
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • National
  • Culture
  • Opinion
  • Lifestyle
  • Sports
No Result
View All Result
TrendsWide
No Result
View All Result
Home Trending

Nancy Pelosi calls revelations Donald Trump has $300 million in loans ‘national security issue’

souhaib by souhaib
September 29, 2020
in Trending
0
0
SHARES
12
VIEWS
Share on FacebookShare on Twitter


House Speaker Nancy Pelosi on Monday said the notes coming due for President Donald Trump valued at hundreds of millions pose a ‘national security risk’ for the nation.

Pelosi spoke in the Capitol a day after the New York Times released its bombshell report on Trump’s finances. The report not only revealed the president paid just $750 in taxes in 2016, it also catalogue debts running into the hundreds of millions. 

The paper reports Trump is personally on the hook for $300 million in debts coming due in the next four years. His loans and other debts total $421 million, the paper calculated after obtaining years worth of his returns.  

‘This president appears to have over $400 million in debt. To whom? Different countries? What is the leverage they have? So for me, this is a national security question,’ Pelosi told NBC. 

House Speaker Nancy Pelosi warned President Trump’s hundreds of millions in debts pose a  ‘national security risk’

‘We take an oath to protect and defend. This president is commander in chief. He has exposure to the tune of hundreds of millions of dollars, to whom? The public has a right to know.’

‘I’m an intelligence person,’ said Pelosi, a member of the congressional ‘gang of eight’ who gets top briefings and a former top Democrat on the Intelligence Committee.

She noted that when there is a review of a federal employee or appointee ‘if they have outstanding debt, that is an important factor. Because that means somebody else has leverage over them.’

President Trump has $300 million in loans coming due in the next four years

President Trump has $300 million in loans coming due in the next four years

The New York Times was able to obtain years of Trump tax return information

The New York Times was able to obtain years of Trump tax return information

'The question is what does Putin have on the president politically, personally, financially in every way?' Pelosi said of Russian President Vladimir Putin

‘The question is what does Putin have on the president politically, personally, financially in every way?’ Pelosi said of Russian President Vladimir Putin 

Trump's biggest lender is Deutsche Bank

Trump’s biggest lender is Deutsche Bank

She noted that despite Trump’s tiny 2017 tax bill, he paid over $300,000 in taxes to other countries ‘that we know of. It may be more.’ They include the Philippines and Turkey. 

Trump for years has refused to release his tax returns, and declined to do so again Sunday, saying he was still under audit.  

The state of Trump’s debts could set up a difficult and unprecedented situation for lenders who must decide whether to seek to initiate foreclose on a sitting president. 

‘He has exposure to the tune of hundreds of millions of dollars. To whom? The public has a right to know.’

Pelosi also raised the issue of Russia.

‘The question is what does Putin have on the president politically, personally, financially in every way?’ 

Pelosi’s House Democrats have spent years trying to get their hands on Trump’s tax returns, but learned about the bombshell by reading the newspaper. 

Trump’s son Eric, a top Trump Organization executive, once famously told a golf writer about the company’s finances: ‘Well, we don’t rely on American banks. We have all the funding we need out of Russia 

Two of Trump’s most famous properties: Trump Tower in New York City and Trump National Doral in Miami, Florida, have been mortgaged and those amounts will need to be paid by 2024.  

In 2012, Trump purchased Doral for $150 million. 

The Times reported that through 2018 the losses on the Florida golf property have totaled $162.3 million. 

The tax records show that Trump pumped $213 million into Doral. 

And there’s a $125 million mortgage balance on the property, which is coming due in three years, the Times report noted.  

Additionally in 2012, Trump took out a $100 million mortgage on the commercial space in Trump Tower.  

He took nearly the entire amount as a payout, the Times reported. 

And while his company has paid more than $15 million in interest on the loan, none of the principal has been paid. 

The full $100 million is due in 2022. 

Another problem area for Trump is the money he’ll owe the federal government should he lose his ongoing dispute with the Internal Revenue Service.  

The president received a 2010 IRS refund that totaled $70.1 million, as he was able to use a provision in a President Obama-approved Great Recession bill that allowed taxpayers to go back four years – instead of two – and get a tax refund if they were experiencing losses.  

That enabled Trump to request a refund for the $13.3 million in taxes he had paid in 2007, but also the $56.9 million he had paid in 2005 and 2006 when ‘The Apprentice’ gave him a huge financial bump. 

Refunds over $2 million need the approval of IRS auditors and the Congressional Joint Committee on Taxation.  

The committee received records of Trump’s IRS audit in 2011 and an agreement was reached in late 2014, the Times wrote, but then the audit resumed and grew to include Trump’s taxes for 2010 through 2013. 

The case was pushed back to the committee in spring 2016, as Trump was close to receiving the Republican nomination and has stayed there since.   

If Trump loses the case, he could owe the government more than $100 million, which would include the original sum, plus interest.  

Trump argued on Monday he is ‘entitled’ to the tax credits he received and said he would release ‘financial statements’ that would show ‘all’ his properties, assets and debts.  

He attacked the Times in a news conference on Sunday evening and then sent out a series of tweets Monday morning where he accused the newspaper of ‘illegally’ obtaining his tax information, argued he paid ‘millions’ in taxes and was ‘entitled’ to the credits he received.

‘The Fake News Media, just like Election time 2016, is bringing up my Taxes & all sorts of other nonsense with illegally obtained information & only bad intent. I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits,’ Trump wrote.

‘Also, if you look at the extraordinary assets owned by me, which the Fake News hasn’t, I am extremely under leveraged – I have very little debt compared to the value of assets,’ Trump added.



Source link

ADVERTISEMENT
Tags: dailymail
ShareTweetPin
Previous Post

Coronavirus: Early pub closing ‘putting shop workers at risk’

Next Post

If you have life insurance, you’re less likely to take out income protection – but do you need both?

souhaib

souhaib

Related Posts

Trending

A sudden malfunction in the work of “Facebook”, Whatsapp “and” Instagram “!

January 26, 2021
Trending

List of countries most affected by the Corona epidemic, with the number of deaths

January 26, 2021
Trending

Florida offers to host the Olympiad in the event of Tokyo retreat

January 26, 2021
Next Post

If you have life insurance, you're less likely to take out income protection - but do you need both?

Parents place children on risky exclusion diets due to mistaken belief they could beat allergies

Robin Goodfellow's Racing Tips: Best bets for Tuesday, September 29

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Recommended

Arizona certifies presidential election results despite Giuliani touting conspiracy

2 months ago

Accessibility Features and Settings – PlayStation 5 Wiki Guide

2 months ago

Barcelona on alert as ‘Juventus and Roma join the race to sign Lyon striker Memphis Depay’

3 months ago

Romelu Lukaku admits it is ‘one less headache’ for Belgium if Marcus Rashford is absent for England

2 months ago

Categories

  • Australia
  • Business
  • Cryptocurrency
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Travel
  • Trending
  • Uncategorized

Topics

bbc bbc health cnn ar business dailymail dailymail australia dailymail heath dailymail money dailymail sport day 7 euronews Health IGN rt arabic usa today usa today money usa today sport Women Fashion
No Result
View All Result

Highlights

30 x Diet – The 30X Diet – Detox and Lose Weight Healthy Reviews

ZQTHL Snow Scooter for Teenagers, 2 in 1 Skating & Ski, Best Children’s Compact Scooter, Best Winter Toys, Sled, Scooter, Fold-Up, Ski

Pip Edwards is SLAMMED by followers on Instagram after mixed Australia Day messages

List of countries most affected by the Corona epidemic, with the number of deaths

Putin says lavish palace featured in Navalny video is ‘manipulation’

NBA: LeBron James shoots season-high 46 in LA Lakers win over Cleveland

Trending

Deals

Burton Men’s Covert Snow Pant

by souhaib
January 26, 2021
0

Price: (as of - Details) Get the most for your well-earned coin with the all-out...

British treasure hunter who salvaged £32MILLION of silver bars could be left with nothing

January 26, 2021

A sudden malfunction in the work of “Facebook”, Whatsapp “and” Instagram “!

January 26, 2021

30 x Diet – The 30X Diet – Detox and Lose Weight Healthy Reviews

January 26, 2021

ZQTHL Snow Scooter for Teenagers, 2 in 1 Skating & Ski, Best Children’s Compact Scooter, Best Winter Toys, Sled, Scooter, Fold-Up, Ski

January 26, 2021

Follow us on social media:

UK Jobs

Recent News

  • Burton Men’s Covert Snow Pant
  • British treasure hunter who salvaged £32MILLION of silver bars could be left with nothing
  • A sudden malfunction in the work of “Facebook”, Whatsapp “and” Instagram “!

Category

  • Australia
  • Business
  • Cryptocurrency
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Travel
  • Trending
  • Uncategorized

Recent News

Burton Men’s Covert Snow Pant

January 26, 2021

British treasure hunter who salvaged £32MILLION of silver bars could be left with nothing

January 26, 2021
  • Contact
  • Terms & Conditions
  • Privacy Policy

© 2020 - TrendsWide

No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 - TrendsWide