New details from Donald Trump's tax filings reveal not only that he has been pursuing business projects in China for a decade, but also that the President of the United States has a Chinese bank account that is not listed in his public financial statements.
According to the New York Times "Mr. Trump's own business history is full of overseas financial deals, and some have involved the Chinese state. He spent a decade unsuccessfully pursuing projects in China, running an office there during his first term as president, and partnering with a large government-controlled corporation. "
The report notes that China is one of only three other countries, alongside the UK and Ireland, where Trump has a bank account. The account held by Trump International Hotels Management L.L.C. controlled, paid nearly $ 200,000 in Chinese taxes.
In other words, Trump appears to be paying more taxes to China than the United States.
More from the New York Times:
And it turns out that China is one of only three foreign nations – the others are the UK and Ireland – that Mr Trump has a bank account in. This emerges from an analysis of the president's tax records received from the New York Times. The overseas accounts do not appear in Mr. Trump's public financial information, where he has to list personal assets as they are kept under company names. The identity of the financial institutions is not clear.
The Chinese account is held by Trump International Hotels Management L.L.C. controlled. According to tax records, taxes of US $ 188,561 were paid in China while licensing agreements were in place from 2013 to 2015.
The tax records do not contain any information about how much money may have flowed into the overseas accounts, although the Internal Revenue Service requires applicants to report the portion of their income from other countries. The UK and Irish accounts are held by companies that operate Mr. Trump’s golf courses in Scotland and Ireland and regularly report millions of dollars in income from these countries. Trump International Hotels Management only reported a few thousand dollars from China.
Trump is the master of projection
Donald Trump is reportedly planning to target Joe Biden's son Hunter in this week's presidential debate. In particular, Trump plans to ask questions about the Biden family's alleged connections with China.
This is clearly a desperate salute to Mary for the Trump campaign as it is only two weeks from election day. But it's just another example of the Trump projection.
As the New York Times reported on Tuesday, it is Donald Trump who has questionable financial ties with China – and other countries like Russia – about which he is not transparent.
The American people deserve to know where Donald Trump puts his money and which countries he owes – especially since he has made it clear over the past four years that his loyalty lies outside the United States.
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Sean Colarossi currently resides in Cleveland, Ohio. He received his Bachelor of Arts in Journalism from the University of Massachusetts Amherst and was an organizing fellow for both of President Obama's presidential campaigns. He also worked with Planned Parenthood as the Outreach Organizer of the Affordable Care Act in 2014, helping Northeast Ohio residents get health insurance.