Former President Donald Trump, facing financial challenges, has recently resorted to selling various items, such as sneakers and country music-themed Bibles, to support himself. However, there is limited information on how he sustains himself currently, with the most recent data dating back to 2020. Democrats obtained his tax returns after a legal battle and found that the IRS had not been auditing them as required. Trump has not voluntarily disclosed his post-presidency income taxes, and Democrats have shown no interest in pursuing them further, citing concerns about national security and financial transparency.

Despite Trump’s claims of having around $500 million on hand, his financial situation remains uncertain. He recently had to put up a $92 million bond in a defamation lawsuit and faces the need to raise $175 million for another case in New York civil court. Trump expressed confidence in his ability to raise the required funds, even suggesting the possibility of seeking financial aid from banks outside the country, despite legal restrictions on accepting foreign donations. He has adamantly refused to release his tax returns since the 2016 campaign, breaking with a longstanding tradition of transparency among major presidential candidates.

In 2019, Democrats attempted to obtain Trump’s tax returns through legal means, but faced resistance from Trump who sued to prevent their release. The legal battle concluded in 2022, with the Supreme Court ruling in favor of lawmakers gaining access to six years of Trump’s tax returns, up to 2020. However, Democrats have not pursued additional disclosures, with concerns about the lengthy and arduous process involved. Senator Ron Wyden’s office indicated a potential bill that would require presidential candidates to disclose their tax returns within 15 days of nomination, with the possibility of public disclosure if they fail to comply.

Critics argue that both Democrats and Republicans should push for Trump to release his tax returns, given the historical precedent of financial transparency among presidential candidates. The lack of disclosure raises questions about potential foreign influences on a financially struggling candidate and the need for greater accountability in the political process. Trump’s reluctance to release his tax returns, despite legal pressure, may be a strategic move to maintain secrecy and control over his financial dealings. As the 2024 presidential election approaches, the issue of financial transparency among candidates continues to be a topic of debate and concern for voters.

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