Speaking on news programs on Tuesday, Michael Cohen responded to questions about Donald Trump’s tax returns. He suggested that the president could be forced to sell off assets or declare bankruptcy, and could pose a security risk for the United States, and that we could be seeing “the beginning of the end” for Trump.Speaking on MCNBC, Cohen said that Trump’s tax returns could be the beginning of the end for the president. “I call him our commander-in-cheat,” he said. “Trump is compromised to the core. When asked about his own specific knowledge, Cohen referred back to prior statements. He noted that he had already testified to this information before the House Oversight Committee, before declaring, “Trump fraudulently inflated the value of his properties, in order to receive favorable terms from lenders, only then to underreport their value for tax purposes.”
He shared similar views and information on CNN‘s New Day, where he suggested that Trump’s tax liability could be just the first step in a chain of events. “Trump has no cash on hand. ..so in the event that he gets hit with a taxable consequence, which he will, let’s assume for argument’s sake that it’s $300 million. It’s not just the 300 million, which he doesn’t have the cash on hand to pay, he’s gonna have to sell assets.” Cohen explains that, if Trump sells assets, he’ll then owe taxes on the sale, as well.
The New York Times report on Trump's tax records shows that "he's so far behind that he may never get out, which is why I said that he may be actually facing potential bankruptcy," says @MichaelCohen212. "And if not bankruptcy, it gets even worse…. national security risk." pic.twitter.com/WDghaV9Zvh
— New Day (@NewDay) September 29, 2020
He also hints at Donald Trump falsifying financial records for real estate purchases, though he frames it as a hypothetical, rather than an accusation or statement of knowledge, and suggests that there could also be consequences for those actions coming due. Ultimately, he suggests, the president could be facing bankruptcy.
What's Your Reaction?
Steph Bazzle reports on social issues and religion for Hill Reporter. She focuses on stories that speak to everyone's right to practice what they believe in and receive the support of their communities and government officials. You can reach her at Steph@HillReporter.com