2022 US House committee releases Trump’s tax returns, capping a years-long battle
On Friday 30 December the US House Budget Committee, provided the most detailed report of former President Donald Trump’s tax returns for 2015-2020.makining an end to a long legal battle between the Republican former president and Democratic lawmakers.
In total, more than 6,000 pages have been published. 26 people voted for the publication in the budget committee, which before the start of the work of the new House of Representatives, the Democrats had a majority, 26 people voted, 18 – against.
Trump’s tax report shows he paid almost no federal income taxes from 2015 to 2022 as he claimed millions in business losses. While Trump paid $641,931 in federal income taxes in 2015 when he launched his presidential campaign, he paid just $750 in 2016 and 2017, according to a report released last week by the non-partisan Congressional Joint Committee on Taxation. He paid almost $1 million in 2018, but only $133,445 in 2019 and nothing in 2020, when he unsuccessfully sought re-election. The records also detailed Trump’s overseas assets.
Over several years, Trump appears to have paid more foreign taxes than net U.S. federal income taxes, with revenues recorded in countries such as Azerbaijan, China, India, Indonesia, Panama, the Philippines, St. Martin, Turkey, and the United States. United Arab Emirates. The documents also show that Trump’s charitable donations often made up only a small fraction of his income.
In 2020, as the coronavirus devastated the economy, Trump reported no charitable donations at all. In 2019 and 2018, he said he wrote donation checks for about $500,000. In previous years, the numbers were higher, at $1.8 million in 2017 and $1.1 million in 2016.
It is unclear whether the amounts claimed included Trump’s $400,000 annual presidential salary, which he, as a candidate, said he would forego and which he claimed to have donated to various federal agencies.
Trump warned of dire consequences and said
“It will lead to horrible things for so many people. Radical Left Democrats armed everyone, but remember, this is a dangerous two-way street!” Trump said. He said the reports showed “how proudly successful I am and how I have been able to use depreciation and various other tax deductions” to grow my business.
In 2020, more than 150 Trump businesses reported negative qualifying business income, which the IRS defines as “the net sum of qualifying items of income, profits, deductions, and losses from any qualifying trade or business.”
In total for this tax year, combined with loss carryforwards of almost $9 million from previous years, Trump’s qualifying losses totaled more than $58 million. Another loss of Trump’s money: an ice skating rink that his company operated until last year in New York’s Central Park. Trump reported losses to Wollman Rink totaling $2.6 million in the six years that came to light. Katok, an early gem of the Trump Organization under contract to the New York City government, posted a $1.3 million loss in 2015 despite making $9.3 million in revenue, according to tax returns. In 2016 the rink brought in a profit of $298,000. Trump, known for building skyscrapers and hosting reality shows before winning the White House, did provide limited information about his assets and income on mandatory disclosure forms and financial statements he provided to banks for loans and financial magazines to justify your rating.
Trump’s longtime accounting firm has since disavowed the statements, and the New York Attorney General has filed a lawsuit alleging that Trump and his Trump organization fraudulently inflated the value of assets in the statements. Trump and his company deny wrongdoing. At the end of July 2021, the U.S. Department of Justice ruled that the U.S. Treasury Department must submit Trump’s tax returns to one of the committees of the House of Representatives of Congress. Trump’s lawyers filed a lawsuit in federal court demanding that the transfer of tax returns to Congress be prevented, but were unable to achieve this.
The legal battle over this issue has been going on in the US since 2019. The Democrats insisted on the transfer of documents to Congress. The disclosure marks the culmination of a years-long legal battle that has played out everywhere from the presidential campaign to Congress to the Supreme Court, as Trump has steadfastly rebuffed attempts to share details of his financial history — contrary to the transparency practices that all of him followed.
The release of the records comes just days before Republicans take back control of the House of Representatives and weeks after Trump announced a new campaign for the White House. The publication notes that the publication of declarations was another blow to the image of Trump, who plans to fight for the presidency again in 2024.
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Interview With Niantic CEO John Niantsullivan
Interview With Niantic CEO John Niantsullivan John Niantic, the CEO of Ninatic, recently took part in an interview with ‘Geek to the Future’. The interview focuses on the company’s latest innovations, including the upcoming Metaverse, the Lightship platform and the Harry Potter Wizards Unite project.
In an interview with Recode Decode, Niantic CEO John Niantsullivan talked about the company’s plans for “Pokemon Go” and the new features they have in the works. The company also has a stake in augmented reality, so it’s likely that “Pokemon Go” will eventually make it to AR devices like HoloLens.
Using GPS technology and smartphone cameras, “Pokemon Go” projects Pokemon into the real world. Players can catch them, battle other players, and collect virtual goodies. It’s a mobile gaming system that’s made for exercise.
Among other things, “Pokemon Go” has a social component, too. Users can play in teams. They can use their phone camera to scan their surroundings and create a map. Eventually, the map will be able to anchor digital objects to real-world locations.
According to the company, consumers spent $1.4 billion on “Pokemon Go” last year. This figure is a 49% increase over the same timeframe.
Pokemon is a popular franchise, but it’s been around for almost two decades. Originally a trading card game, it’s now on smartphones. Niantic has worked with Google and Nintendo to make it happen.
Harry Potter Wizards Unite
Wizards Unite is a mobile game, developed by Niantic and Warner Bros. The game is set in the world of Harry Potter, and is free to play.
It features wizards, witches, and magical creatures. Players can create their own characters, choose a wizarding profession, and explore the world. They can also find friends, if they like. This game is designed for children and adults, and the game is safe for those who do not want to use real money to purchase gold.
Harry Potter: Wizards Unite is a location-based augmented reality game. Like Pokemon Go, it’s meant for Android and iOS devices. Users can also share a 12-digit player code with their friends.
Niantic is currently working with WB Games to improve the game. Some of the improvements include the use of a “Real World Platform” similar to Pokemon Go. These new features may be used to create new gameplay mechanics.
In addition to building the game, Niantic has acquired five companies in the past four years. It was originally formed as an internal startup within Google. But, it became independent in 2015.
Niantic, the company behind the Pokémon Go craze, is releasing a new augmented reality platform called Lightship. It’s a real-time mapping system that will allow mobile apps to map surfaces and place virtual objects behind physical ones. A paid version of the system will allow multiple devices to access shared AR experiences at the same time.
Lightship’s flagship product, the ardk, is a relatively easy to deploy software framework that offers all the best features of Niantic’s flagship system. Besides the ardk, Lightship also includes a suite of developer tools, including a tool for creating VR experiences, a data visualization interface, and a library of pre-built augmented reality templates. In addition to the ardk, the company has developed a suite of augmented reality apps for Android and iOS. The aforementioned ardk is designed to enable developers to create immersive augmented reality experiences, and Niantic is working with Qualcomm and Apple to make this possible.
While Lightship is not yet available to the general public, it has been in the works for a long time. Lightship has a trove of awe-inspiring features, from its ardk to its corresponding suite of developer tools, a full-featured app store, and an ever-growing catalogue of augmented reality experiences.
A new virtual shared world – called the metaverse – is about to be born. It is a combination of the web, gaming, VR and augmented reality. The new universe will be created by the imagination of human beings.
In the metaverse, millions of people will be able to add new elements to a virtual shared space, just as people add a few pixels to a website. This is a huge step towards personal computing.
John Hanke, CEO of Niantic Inc., which makes mobile games, believes that augmented reality will one day create a “real world metaverse”. While he is hesitant to talk about the specifics of this technology, he is very enthusiastic about its potential.
He hopes that the technology will make it easier for individuals to create new experiences. That means that brands will have an opportunity to create memorable experiences that drive sales.
But, to do that, the metaverse must be created as a 3D platform, and technical standards must be developed. There is also a need to create a fair economy that will allow companies to benefit from the content they produce.
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