Trump tax returns reveal income through endorsement deals

“The Apprentice” provided Trump with a financial lifeline that led to lucrative endorsement deals for products and services, according to the New York Times.
3:37 | 09/29/20

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Transcript for Trump tax returns reveal income through endorsement deals
night in politics. 35 days before the final 2020 votes. Donald Trump, Joe Biden face-to-face in primetime. That's the debate stage in Cleveland. It will be a socially distanced showdown. One topic certain to come up that blockbuster report in "The New York Times" on the president's taxes. A new installment today. Reporting "The apprentice" provided him with a lifeline. Cecilia Vega is there with the latest. Good morning. Reporter: Good morning. One of the things that helped him win the white house was voters trusting in his skills as a businessman but now "The times" using these documents about his taxes that the president has so far refused to release to raise serious questions about how skilled he was and whether many of his deals were actually aboveboard. I'm Donald Trump. Reporter: It was his image as a successful reality TV show mogul that helped him win the white house. You're fired. Reporter: This morning "The New York Times" is reporting that image was far from and tax records the president has refused to release show when "The apprentice" debuted he clocked in $90 million losses from his core businesses but the paper says he still went on to earn $197 million from the hit show. I'm looking for "The apprentice." It led to hundreds more endorsement deals from domino's pizza and serta mattresses. They also show the president entered into several questionable deals that left consumers on the hook. "The times" writing Mr. Trump had always skated close to the edge of fraud. Soon he would be accused of crossing the line completely and the paper says the president earned nearly $9 million partnering with the marketing company accused of suckering people into spending more money than they earn selling the product. The paper says the president also earned $2.6 million encouraging people to spend $500 on a kit to sell vitamins to friends and family and according to the times he raked in $300,000 for speeches where attendees paid thousands to hear the secrets of wealth but report that even with the additional income the president seriously struggled to stay out of the red and used his losses and questionable deductions to drive down his tax bill paying zero federal income taxes in 11 out of 18 years they examined and just $750 in the year he won the white house and in 2017. Totally fake news. Made up, fake. Reporter: The president's defense, he now says he paid many millions in tax but was entitled like everyone else to depreciation and tax credits but with the election just weeks away Democrats are not letting up. We've already known that he puts his political priorities in front of the American people. But we are now seeing in a way evident -- clearly evident that he also is prepared to put his personal interests ahead of the American people. Reporter: The times also found that the president will soon owe $421 million in debt. That's money that could come due while he is in office if elected to a second term and Nancy Pelosi is calling this a national security threat saying Americans have a right to know whom their president owes and also not just Democrat, national security experts we are speaking to say the president owing money like this could potentially subject him to being compromised by foreign interests. Many wondering about that. Cecilia, thank you. As we said we are counting

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