Trumpworld is imploding – By Rick Newman (Yahoo Finance) / Sept 28 2020
Donald Trump has many well-known enemies—and some stealthy ones, as well.
The main takeaway from a New York Times report on Trump’s tax records is that Trump claims to be a billionaire, yet in some years pays little or nothing in federal income taxes. Trump uses many legal tax credits to lower his bill, but may also break the law by exaggerating his business expenses or mischaracterizing payouts to family members.
There’s also an unstated revelation in the Times expose: Somebody close to Trump turned on him, leaking financial information that could be both politically damaging and legally treacherous. The Times isn’t saying where it got the detailed information on nearly 20 years of Trump tax returns, and isn’t even releasing the documents, to protect the source. But it seems obvious that a Trump insider is trying to damage him, flouting Trump’s famous demand for loyalty from anybody who works with him.
Trump is in a close reelection race, and it’s possible he could beat Democrat Joe Biden once the ballots are counted in November. At the same time, however, a more ominous scenario is unfolding. Trump’s notoriety as a combative president has brought unprecedented scrutiny to a family business that for decades was a black box, its inner workings secret. Trump is now facing more legal scrutiny than ever, including criminal probes into possible felonies. There are even signs his supposedly iron grip on the Republican Party could shatter if there’s an opportunity to dispatch Trump and move on.
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