[The Outsider]

https://www.cnn.com/2020/09/28/opinions/...index.html

The New York Times has broken a major story, based on access to decades of President Donald Trump's tax return data, just as they have in the past broken stories about the President's father, Fred Trump, and his aggressive tax planning, Donald Trump's billion-dollar tax losses in the late 80s and early 90s, and son-in-law Jared Kushner's years of apparent multimillion dollar federal tax avoidance.

Trump emerges as a man living large, losing large, and constantly staying just one step ahead of his creditors. His businesses lose money. This gives him tax losses but the need for cash to keep living large. He gets lots of money -- some $300 million at least -- from borrowing. And Trump, the self-proclaimed King of Debt, knows that borrowing is not taxable income.

The upshot is that Trump's creditors may now include all of us. Trump may be found to owe the government $100 million or more in back taxes, penalties and interest. Along with the debt, this makes Trump's tab coming due -- potentially hundreds of millions of dollars -- to say nothing of the ongoing expenses of his extravagant lifestyle.