Trump got ‘unusual’ payments from Vegas hotel in 2016: NYT
In the latest disclosure of the president's tax filing, the New York Times reported Friday that Trump received "highly unusual" payments of $ 21 million from a Nevada hotel in 2016 as his presidential campaign battled for cash. Rick Newman cancels the report.
SEANA SMITH: Rick, very quickly, we want to bring up another story that we're just getting. "New York Times" with a new report on President Trump's taxes. Now, this report focuses on $ 21 million in payments from a Las Vegas hotel as it stands in 2016. What is interesting about this report is that it describes these payments as extremely unusual. They are also described as ... or just focus on timing as the timing of the payment is crucial here, as it was at this point that President Trump's campaign in 2016 was battling for cash.
RICK NEWMAN: Right, so this is a new revelation from the New York Times that received these financial documents for Trump's records about 20 years ago. So they say they were able to identify a payment from this joint venture that Trump made with a casino operator in Las Vegas in 2016. And somehow that payment went through some sort of shell company that had no other transactions. And it ended up in Trump's pocket for $ 21 million, as you pointed out.
And then, at about the same time, or a short time after, Trump could give - or lend - his campaign $ 10 million. So it seems that $ 10 million came out of the $ 21 million that came out of it - what The Times characterizes as a fishy source. Now they cannot establish a direct connection. So there are a few more things we don't know here.
However, there are two possible effects that are problematic for Trump. Number one, no tax was paid on that $ 21 million. It has been declared a business expense. But it's not clear what the hell that was. So if it is not a business expense, taxes should be paid on it.
And it could also have hurt campaign funding violations if it was included in its campaign, but the source for it wasn't correctly stated. So let's keep in mind that the New York District Attorney is aggressively pursuing Trump and potentially investigating tax fraud. That is what all of these appeals to the Supreme Court for Trump's Financial Records were about. And New York State is doing similar things too. Even if there isn't a state investigation into Trump's tax payments, there is an ongoing investigation, live investigation in New York City and New York State that could get Trump in big trouble if he is no longer president.
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