Trump and taxes

One profitable venture for The Donald

Kevin Drum:

Donald Trump paid no taxes because he never made any money

There's not really anything here that we didn't already know, but I appreciate the bluntness of the Times report. The "entirety of his core business" reported losses every year, just as it always has. The truth is that Trump has never really made money from anything except The Apprentice and his licensing business.

Drum quotes the NY Times:

Nearly all of his interest income came from his share of profits earned by a partnership that is controlled by Vornado Realty Trust.

The partnership owns two valuable office towers: 1290 Sixth Avenue in Manhattan; and 555 California Street in San Francisco. Mr. Trump, who has a 30 percent share in the partnership, has no authority over its management, and it has consistently been his strongest-performing asset.