As we approach the US presidential election, many voters are citing Trump’s business acumen as the sole reason to reinstate him this November. But long-concealed documents obtained by The New York Times revealed that his finances are in shambles and he is far from the shrewd billionaire he claims to be ($2.1 billion, to be exact). What's more, the paperwork shows that he pays less income tax than workers living below the poverty line.

The damning report confirms many widely held suspicions of his personal shortcomings. His vanity and nepotistic tendencies are hardly a secret, but nevertheless infuriating when you see the figures: he claimed the $70,000 paid to style his hair during The Apprentice as a business expense, and he paid his daughter Ivanka Trump $747,622 to “consult” him. 

More alarming, Trump paid a total of $750 in federal income taxes the year he won the presidency. He’d paid nothing in 10 of the previous 15 years — largely because he reported losing much more money than he made.

The findings paint a disturbing picture of the country's future. Trump’s consistently dubious tax returns and business failures belie a corrupt system that he has successfully grifted for most of his life. Meanwhile, lower-income workers are bound by law to pay taxes that keep the country’s vital services running, and it would seem, are paying more than him. As one Twitter user points out, a minimum-wage worker averaging 48 hours a week earning approximately $19,700 per year would pay $750 in income tax. 

The newly revealed tax records confirm that many of Trump’s investments have repeatedly failed, and his father has secretly bailed him out. In other words: The President looks to his folks to get him out of shitty financial situations while simultaneously waging legal and ideological wars against those who don't have a fraction of his privilege. He targets undocumented workers, for example, using them as a scapegoat for the country’s economic woes — workers that are estimated to have contributed $27,000,000,000 to the economy in taxes in the same year that Trump paid $750.

These new findings have the potential to challenge the myth that Trump has fostered about his wealth and success, but it only matters if people turn out to vote. Election Day is almost upon us; for everyone who is able to vote, we've compiled a list of resources to make sure your vote is counted.

What To Read Next

  • Image on Highsnobiety

    Ah Yes, More Tabi Sneakers From Margiela & Reebok

    Sneakers
  • Image on Highsnobiety

    These adidas Shoes Aren’t What They Seem

    Sneakers
  • Image on Highsnobiety

    Swarovski Makes Dr. Martens Sparkle

    Style
  • Image on Highsnobiety

    2022's Most-Searched Skincare Brands Prove the Power of TikTok

  • Image on Highsnobiety

    Dont Worry Team Highsnobiety, Your Spotify Wrapped Can’t Hurt You

    Culture
  • Image on Highsnobiety

    Fact-Checking Twitter's Balenciaga Conspiracy Theory

    Style
*If you submitted your e-mail address and placed an order, we may use your e-mail address to inform you regularly about similar products without prior explicit consent. You can object to the use of your e-mail address for this purpose at any time without incurring any costs other than the transmission costs according to the basic tariffs. Each newsletter contains an unsubscribe link. Alternatively, you can object to receiving the newsletter at any time by sending an e-mail to info@highsnobiety.com

Web Accessibility Statement

Titelmedia (Highsnobiety), is committed to facilitating and improving the accessibility and usability of its Website, www.highsnobiety.com. Titelmedia strives to ensure that its Website services and content are accessible to persons with disabilities including users of screen reader technology. To accomplish this, Titelmedia has engaged UsableNet Inc, a leading web accessibility consultant to help test, remediate and maintain our Website in-line with the Web Content Accessibility Guidelines (WCAG), which also bring the Website into conformance with the Americans with Disabilities Act of 1990.

Disclaimer

Please be aware that our efforts to maintain accessibility and usability are ongoing. While we strive to make the Website as accessible as possible some issues can be encountered by different assistive technology as the range of assistive technology is wide and varied.

Contact Us

If, at any time, you have specific questions or concerns about the accessibility of any particular webpage on this Website, please contact us at accessibility@highsnobiety.com, +49 (0)30 235 908 500. If you do encounter an accessibility issue, please be sure to specify the web page and nature of the issue in your email and/or phone call, and we will make all reasonable efforts to make that page or the information contained therein accessible for you.