Trump responds to New York Times bombshell on his taxes, insists losing money 'was sport' in the '80s

Donald Trump in 2001
(Image credit: Doug Kanter/AFP/Getty Images)

The New York Times reported late Tuesday that President Trump reported $1.17 billion in losses at his core businesses between 1985 and 1994, that during that period Trump "appears to have lost more money than nearly any other individual American taxpayer," and that his losses were so massive he didn't pay any federal income tax for eight of those 10 years. With a bombshell like this, Trump had three choices: Ignore the report; concede that he was a very bad deal-maker, as the hometown New York Daily News suggested ...

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Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.