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He was never seasick. The new book, titled Rufus for the childhood nickname that stuck with Johnston as an adult, follows the British-born Johnston to Canada as a teen, where he crossed the country working jobs ranging from farming to banking before landing at The Province in as a year-old rookie reporter.
He learned journalism quickly, reporting from all over B. Johnston came back to the paper after the war, wrote several books on his travels in Europe and B. Johnston visited a German camp holding 1, political dissidents, where he talked to a jailed social democrat. In a story published in The Province 10 days before the Nov. Also around that time, another foreign correspondent had been accused by the Germans of being a spy — ominous times for foreign journalists.
Johnston headed back to England, his work on the continent done for the moment. His disappearance from the ship came two days after the Hitler interview. Goering had founded and at the time was in charge of the Gestapo, the German secret police. Johnston had first crossed the Atlantic when he came to Canada at 18, and among his many other maritime travels was a scoop for The Province, when he was the only Canadian journalist accompanying U. President Warren G.
Monday, September 23
Harding on a three-week voyage from Oregon to Alaska and back to Vancouver — thumbing his nose at competitors as he filed his dispatches enroute via telegraph. They were all born after his disappearance. Postmedia is pleased to bring you a new commenting experience. We are committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Trump built a business licensing his name, became a television celebrity and ran for the White House by branding himself a self-made billionaire.
He broke with four decades of precedent in refusing to release any of his tax returns as a presidential candidate, and until now only a few pages of his returns have become public. The new tax information does not answer questions raised by House Democrats in their pursuit of the last six years of Mr. Nor does it offer a fundamentally new narrative of his picaresque career.
But always, those gains were overwhelmed by losses on his casinos and other projects. The new information also suggests that Mr. From through , while his core businesses languished under increasingly unsupportable debt, Mr. Trump made millions of dollars in the stock market by suggesting that he was about to take over companies. But the figures show that he lost most, if not all, of those gains after investors stopped taking his takeover talk seriously.
In Washington, the struggle over access to Mr.
Trump had received from his father came from his participation in dubious tax schemes, including instances of outright fraud. They showed that Mr. Several months later, the journalist David Cay Johnston was mailed pages of Mr. He was still riding high from the completion of his first few projects — the Grand Hyatt Hotel, Trump Tower and another Manhattan apartment building, and one Atlantic City casino.
But what the newly revealed tax information makes clear is that, with his vast debt and other expenses on those properties, Mr. He would not be able to convert Mar-a-Lago into a moneymaking club for another decade. The apartments on the hospital site would not be ready for sale, as Trump Palace, until , and another residential project would be stalled for years. The football league would soon fold. Because his businesses were generally created as partnerships, the companies themselves did not pay federal income taxes.
Instead their results wound up on Mr. The I. In his letter, Mr. Trump, to be business owners who received what is known as pass-through income. That data does not include businesses, like most large corporations, that pay their taxes directly. The next years were a time of continued empire building.
The information also documents, year by year, a time of gathering loss. Here is how it added up. Every year from through , Donald J. Trump reported a negative adjusted gross income on his tax returns. That number grew as new losses were combined with those from prior years.
The New York Times previously found that Mr. About two weeks before the stock market crash of Oct. It never made a profit, and Mr.
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And over the next three years, as Mr. Trump was able to lose all that money without facing the usual consequences — such as a steep drop in his standard of living — in part because most of it belonged to others , to the banks and bond investors who had supplied the cash to fuel his acquisitions. This is not to say that Mr. Trump never made money on a deal. One that turned out quite well came in , when he bought the Hotel St.
But that rich payday was overwhelmed by his business losses, and Mr.
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Trump still paid no federal income taxes that year. Some fraction of that ocean of red ink represented depreciation on Mr.
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One of the most valuable special benefits in the tax code, depreciation lets owners of commercial real estate write down the cost of their buildings. Trump said during a presidential debate in Trump defended this tax strategy on Wednesday and said in a pair of Twitter posts that this was what real estate developers did in the s and s.
Trump points to one of his Atlantic City casinos to illustrate the magic of depreciation. But while this example is intended to show the benefits of depreciation, it also demonstrates that depreciation cannot account for the hundreds of millions of dollars in losses Mr. Trump declared on his taxes. The tax code also lets business owners like Mr.https://rilpresucma.tk
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Trump use losses to avoid paying tax on future income — a lucrative deduction intended to help troubled businesses get back on their feet. The newly revealed tax information sheds light on how those net operating losses snowballed. And the red ink continued to accumulate apace. Because Mr. Trump reported a negative adjusted gross income in each of the 10 years, he was not allowed to deduct any charitable contributions.
So while he has boasted of making large donations at the time, the information obtained by The Times shows no such itemized deductions. Potential deductions could have been carried over to a future year, should Mr. Trump have reported a positive income. As losses from his core enterprises mounted, Mr. Trump took on a new public role, trading on his business-titan brand to present himself as a corporate raider. He would acquire shares in a company with borrowed money, suggest publicly that he was contemplating buying enough to become a majority owner, then quietly sell on the resulting rise in the stock price.
The tactic worked for a brief period — earning Mr. Trump millions of dollars in gains — until investors realized that he would not follow through. That much has been known for years. But the tax information obtained by The Times shows that he ultimately lost the bulk of the gains from his four-year trading spree.