President Trump and his family have lost a “fortune” by him occupying the Oval Office, his son, Eric, said Sunday — pushing back on reports that the commander-in-chief paid little or no taxes in some years.
“We’ve lost a fortune. My father lost a fortune running for president. He doesn’t care,” Eric Trump, an executive vice president with the Trump Organization, said Sunday on ABC News’ “This Week.” “He wanted to do what was right. The last thing I can tell you Donald Trump needs in the world is this job.”
“He wakes up in the morning, and he has to fight you, and he has to fight the entire media. He has to fight the Democrats, and he gets punched in the head every single day,” the president’s second son continued.
Host Jonathan Karl noted that the New York Times story, which the president has called “fake news,” said he paid only $750 in federal taxes in 2016 and 2017 and owes more than $400 million to creditors.
Eric Trump said his father has been transparent about his and the Trump Organization’s financial records, saying all of the information is in his “financial disclosures.”
“You know exactly who the money’s owed to. … My father is worth billions of dollars, and on a proportion of his net worth, my father has very, very low leverage,” he said.
“If you own buildings, if you own real estate, you carry some debt. That’s what developers do, that’s what business owners do, they carry some debt,” Eric Trump added. “We have a phenomenal company, but there’s nothing new about that, and by the way, it’s the same debt that he got elected on.”
The president has not voluntarily released his tax documents because he said they are under audit by the IRS.
The son challenged the media to take a look at former Vice President Joe Biden’s financial situation.
“Go Google Biden’s house right now and tell me if you think that a person who’s been in government for 47 years can afford that mansion on the water in Wilmington, Del.,” Eric Trump said.
When Karl continued to push, Eric Trump echoed his father’s comments about the newspaper.
“We’re a hospitality company. We’ve got tens of millions of people staying at our properties every single year. The New York Times is absolute fake news. All they want to do is take down my father,” he said.”
Biden and his running mate, Sen. Kamala Harris, released their tax returns before the first presidential debate.
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