Err, yes?

Donald Trump maintains a bank account in China where he pursued licensing deals for years, according to a report that could undermine the president’s election campaign claim that he is tough on Beijing.

Tax records reviewed by the New York Times showed a previously unreported bank account in China controlled by Trump International Hotels Management. The account paid $188,561 in taxes in China between 2013 and 2015 in connection to potential licensing deals, according the newspaper.

Earlier reporting by the Times showed he paid just $750 in US taxes in 2016 and 2017.

If the NYT actually thought about this they’d realise that the taxes Trump paid in China come off his US tax bill…..

13 thoughts on “Err, yes?”

  1. They’ve thought about it and are being deeply disingenuous about it.

    No MSM pearl-clutching about how this information was obtained?

  2. The $750 was income taxes, not all his taxes, right? This account in China seems to be a business account so will be business taxes, no? Nothing to compare with income taxes??

  3. Trump runs almost all his businesses as partnerships – LLPs. So, the business tax flows straight through onto his own personal tax return.

  4. My take is that when he talks about the Chinese screwing people over, maybe he does actually know what he’s talking about.

  5. Off topic but Spud disapproves of LLPs.

    “According to Belton, LLPs were created after Enron and the Arthur Anderson scandal helping partners of the big 4 accounting firms to ‘avoid personal liability for the failure of their companies’.

    The LLP concept arrived in the early 2000’s – under New Labour.

    What an earth did they think they were doing?”

    Reply
    Richard Murphy says:

    EY and PWC forced it on Labour by paying Jersey to create an LLp law and threatening to leave if the U.K. did not create LLps as well”

    He disapproves of them so much, he set one up.

  6. Bloke in North Dorset

    One report I saw said that there’s be no movement in or out in that account since 2015, so another big none story.

  7. Philip Scott Thomas

    Earlier reporting by the Times showed he paid just $750 in US taxes in 2016 and 2017.

    I’ve read that that’s fake news. The $750 was his tax liability but he actually paid $5.4 million, to excess to be offset against future tax.

  8. Fake MSM concern.

    NYT and Guardian support Hillary and Biden, whose corruption is an open book.

    The Left talks about corruption because you care. They don’t.

  9. Have you seen the Wikipedia slant on Biden’s obvious corruption? It is a variant of the science is settled.

    Some conservatives have promoted a series of narratives centred on the discredited idea that 2020 presidential candidate Joe Biden and his son Hunter Biden engaged in corrupt activities while the former was Vice President of the United States and the latter worked for the Ukrainian gas company Burisma

  10. Hilarious turning of the blind eye. Don’t “progressives” love a conspiracy theory? Carole Catlady, where are you when you are needed?

    This can wait until there is credible evidence to support the veracity of anything beyond the known fact that Biden transmitted US,. EU, IMF and World Bank policy on the corrupt prosecutor Viktor Shokin. We’d also need to know much more about the provenance (which, given the advance warning of hacking by the GRU specifically centred on Burisma) seems likely to be a standard Kremlin disinformation operation.

  11. The stupidity of the media never ceases to amaze, doesn’t it? With their entire side of the political spectrum downplaying the threat of China, their attack on Trump is “he’s got some money there so he is weak on China”. Oh so being weak on China is now a bad thing is it? Then we probably shouldn’t be voting Democrat then should we?

  12. Dennis, CPA to the Gods

    “According to Belton, LLPs were created after Enron and the Arthur Anderson scandal helping partners of the big 4 accounting firms to ‘avoid personal liability for the failure of their companies’.

    The LLP concept arrived in the early 2000’s – under New Labour.

    Let’s see…

    The Enron Scandal broke in 2001. Enron entered bankruptcy in 2004 and was liquidated by 2006.

    LLPs have been around since in the early 1990s in the USA. As they were then governed by state law, not all states had them. The Uniform Partnership Act of 1996 changed that, allowing LLPs to operate in all states (although restrictions on their use still varies from state to state).

    LLPs hit the United Wogdom in 2001. At roughly the same time the Enron Scandal broke. I’d suggest they hit United Wogdom when they did because the Woggies in Parliament had had time (roughly 5 years) to assess the relative advantages of the LLP and decided they needed them one, rather than quickly rushing to react to a USA scandal that was, at the time of Enron’s collapse, poorly understood (it was a fraud, after all).

    But that’s just me.

  13. If anyone thinks China wants to keep Trump around so he can play hard ball on trade for another 4 years they must be deluded.
    Given China’s capability and previous form in interference in other countries it’s remarkable we don’t hear anything them trying to get Biden elected.
    Though once again VEEP likely beats out reality with the shady Chinese ambassador deal episode

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