Stephen Colbert on Trump’s taxes, debts, and staggering business losses

Stephen Colbert reacted to a report revealing details about President Donald Trump’s tax records

President Donald Trump has done more than enough while in office to infuriate, shock, and surprise Stephen Colbert. Yet President Trump’s tax records for the 20 years prior to taking office were far more unsettling than anything the Late Show host could have imagined.

The New York Times obtained tax records for Donald Trump that reveal he paid on $750 in federal income taxes in the year prior to becoming president and during his first year in the White House. The records all reveal massive financial losses, questionable write-offs, and maneuvering that reflects a broken system as well as potentially fraudulent behavior.

President Trump’s tax returns were a major talking point during the 2016 election when the then-Republican nominee claimed he was under audit and therefore could not release anything. Ultimately, it didn’t matter as he was elected president and nearly completed his first term without any backlash.

That changed with the release of the New York Times story. Stephen Colbert led late-night’s coverage on Monday night, finding a balance between amusement and concern over President Trump’s debt and business failures.

Stephen Colbert wonders who President Trump owes $421 million

For years, Stephen Colbert has compared President Trump to a con-artist. The Late Show host has repeatedly questioned President Trump’s wealth and skill as a businessman, often when arguing against a policy or decision coming from the White House. If Donald Trump couldn’t run a successful casino or real estate empire, how could he be trusted to run a country?

The information in his tax records indicate that President Trump can’t be trusted, says Colbert. That’s because the president is on the hook for $421 million to an unknown figure. It presents unprecedented security risks that Colbert jokes could result in Air Force One ending up on Pawn Stars.

Colbert also sees President Trump’s weak defense as evidence that the New York Times report is accurate and there is a serious problem with the president of the United States being in such financial ruin. The comedian reminds the president that the tax information can’t be both made up and “illegally obtained.” Colbert hopes that these revelations will help prove that President Trump is unfit for office, but he’s not exactly holding his breath.

What did you think of Stephen Colbert’s monologue? Share your thoughts in the comment section below. Keep checking Last Night On for more from The Late Show and the rest of late-night television.