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Photo: Spencer Platt/Getty Images

A decade of tax information obtained by the New York Times illustrates that in 1985, Trump reported losses of $46.1 million from his primary businesses — casinos, hotels and retail spaces — with losses totaling $1.17 billion through 1994, according to his federal income tax returns.

The big picture: The Times reports that Trump lost more than nearly any other American taxpayer when compared to a high-income data sampling compiled annually. He seems to have lost enough money that he was able to avoid paying income taxes for 8 of the 10 years.

  • Trump's business losses between 1990 and 1991 alone totaled more than $250 million annually, the Times reports.
  • The returns do not cover 2013–2018, the years at the center of an ongoing dispute between the Trump administration and Democrats.

What they're saying: Last Saturday, Charles J. Harder, a lawyer of Trump's, called the tax information “demonstrably false,” and said the NYT's statements “about the president’s tax returns and business from 30 years ago are highly inaccurate."

  • “I.R.S. transcripts, particularly before the days of electronic filing, are notoriously inaccurate” and “would not be able to provide a reasonable picture of any taxpayer’s return,” Harder said.
  • "Mark J. Mazur, a former director of research, analysis and statistics at the I.R.S., said that, far from being considered unreliable, data used to create such transcripts had undergone quality control for decades and had been used to analyze economic trends and set national policy," reports the Times.

Go deeper

30 mins ago - World

Taliban: Executions and strict punishments will return

Taliban fighters in Kabul. Photo: Oliver Weiken/picture alliance via Getty Images

Strict punishments such as hand amputations and executions will return in Afghanistan, one of the Taliban's founders said in an interview with the Associated Press.

Why it matters: Despite attempting to project a new image, the Taliban remain committed to a hard-line, conservative ideology, including harsh ruling tactics.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Investors pour millions into immersive, interactive art experiences

Photo Illustration: Megan Robinson/Axios. Photo: Martin Bureau/AFP via Getty Images

How much would you pay for "a sleek, if pleasantly confusing, package of moods" or "a confusing tangle of disjointed installations" or even "the total erosion of meaning itself"? The answer, according to the current market-clearing price, seems to be about $35.

Why it matters: Investors are pouring hundreds of millions of dollars into ticketed experiences — immersive, interactive museum-like spaces that don't have the d0-not-touch stuffiness of traditional museums.

Special envoy for Haiti resigns over Biden deportations

Daniel Foote testifies during a Senate Foreign Relations Committee hearing on May 26, 2016. Photo: Drew Angerer/Getty Images

The special envoy for Haiti on Wednesday resigned from his position, writing in his resignation letter obtained by PBS that he "will not be associated with the United States inhumane, counterproductive decision to deport thousands of Haitian refugees."

Why it matters: Ambassador Daniel Foote's resignation comes amid heightened anger over the treatment of Haitian migrants and asylum-seekers living in a temporary encampment in Del Rio, Texas — especially after images surfaced of Border Patrol agents whipping at the migrants from horseback.

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