“Turns out Donald Trump is our conman-in-chief” the anti-Trump host charged during his show, shortly after The New York Times reported President Trump lost $1.17 billion from failed business endeavors from 1985 to 1994.
The report claims Trump avoided paying income taxes for nearly 10 years after his businesses lost $46.1 million in 1985 and continued to decline, losing more than $250 million each year in 1990 and 1991, according to IRS tax transcripts obtained by the Times.
His biggest losses amassed from his casinos, hotels and retail spaces in apartment buildings, according to the report.
“Casinos. Casinos losing money? You know what they say about gambling, casino gambling, right, the house always wins? Well, not always. Not if it’s a Trump casino. Who loses money at a casino except for the person gambling?” Lemon said.
Lemon criticized Trump for campaigning for president in 2016 as a “billionaire business genius,” and “convincing the voters that he would be the best dealmaker ever in the White House,” calling him “literally the worst businessman in the country.”
“His biggest con was pulling the wool right over your eyes,” Lemon said to viewers.
Trump responded to the Times report on Wednesday blasting it as a “Fake News hit job” on Twitter.
“Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases. Much was non monetary. Sometimes considered “tax shelter,” ......”
....you would get it by building, or even buying. You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!”