The bombshell New York Times report on Donald Trump’s tax returns is a remarkable feat of journalism. When I read the Times report, I quickly found myself thinking about ... the theory of business capital structure. In Trump’s case, however, the old joke is true: He isn’t a great businessman, he just played one on TV. The most important revelation from the Times report, however, is its confirmation of another thing many observers already suspected: Trump has hundreds of millions in personal debt. Paul Krugman is a New York Times Columnist

Source: The Irish Times September 29, 2020 11:13 UTC