The Daily Valet. - 9/28/20, Monday

✔️ A Bombshell and a Last-Minute Save

Monday, September 28th Edition

Cory Ohlendorf, Editor in Chief of Valet.

Was your weekend as fast as mine?

Cory Ohlendorf , Editor ⋯ @coryohlendorf

Today’s Big Story

Did Trump Really Pay $750 in Taxes?

The New York Times reports that the President avoided millions in taxes. He denies it but declined to say how much he did pay.

A New York Times investigation published on Sunday found that President Trump paid just $750 in federal income taxes each year in 2016 and in 2017.

The Times said they obtained two decades worth of Trump's long sought-after tax returns—further reporting that he paid no income taxes at all in 10 of the previous 15 years, mostly because he reported losing much more money than he made.

They also determined that Trump has more than $300 million in loans—which he is personally responsible for—that are set to come due within the next four years. And that he's battling the Internal Revenue Service over a nearly $73 million tax refund he claimed a decade ago. An “adverse ruling [in that audit case] could cost him more than $100 million.”

When asked about the report during a Sunday evening news conference, Trump called the story “fake news” and argued that he paid large federal and state taxes, reports Fox News.

According to the Wall Street Journal, when asked to give the American people an idea of how much he has paid, Trump said, “I’ve paid a lot, and I’ve paid a lot of state income taxes too,” without providing specifics.

Of course, an easy way to refute this would be to release the taxes himself. But Trump is sticking to his story that he can't release them while they're under audit. (In fact, an audit would not prevent the president from releasing his records.)

↦ TL;DR: Here are 18 of the most important revelations from the trove of Trump tax records from the Times.

U.S. Judge Halts Trump’s TikTok Ban

Mere hours before it was set to start

I'm guessing there are plenty of victory dances being recorded. A federal judge on Sunday postponed a Trump administration order that would have banned the popular video sharing app TikTok from U.S. smartphone app stores around midnight, reports the Associated Press.

During a telephone court hearing on Sunday, lawyers for TikTok argued that the White House's clampdown infringed on free speech and due process rights. Judge Carl Nichols of the U.S. District Court for the District of Columbia, responded by halting the ban.

TikTok is still scrambling to firm up a deal tentatively struck a week ago in which it would partner with Oracle, a huge database-software company, and Walmart in an effort to win the blessing of both the Chinese and American governments, reports CNBC.

↦ FYI: A more comprehensive ban remains scheduled for November, about a week after the presidential election.

Car Sharing Continues to Grow

Why wait until you can afford your dream car?

Tesla CEO Elon Musk berated his own electric vehicle company last week for offering products that are too expensive. He pledged to offer a Tesla for $25,000 in three years, after his company starts producing its own lower-cost, more efficient battery.

But according to Mashable, even though Tesla's higher-range and higher-performance vehicles are somewhat unattainable, the cars are gaining popularity in the car-sharing community. Turo, the popular auto-sharing platform, has seen Tesla rise on the site, both for hosts offering up their Teslas for short-term rentals and “guests” renting out the EVs.

Young people are increasingly less interested in buying or even leasing their own cars, reports Future Mind. Comfort, flexibility and aversion to long-term commitments are paramount to services most valued by Millennials. Which is why these subscriptions and sharing plans appeal so much to them.

Plus, car sharing continues to grow in popularity thanks to the COVID-19 pandemic. After all, the more people work from home, the less they rely on their daily drivers.

↦ Subscribe: The next best thing to having your own fleet? These car subscription services from BMW, Porsche and Audi.

Burger King Makes a Big Change

Can the Whopper be described as “eating clean”?

Burger King's Whopper now joins a growing list of fast-food items that are losing their artificial ingredients. The chain's signature burger is now sold without artificial colors, flavors or preservatives in all of its U.S. markets, according to a statement by the company.

Burger King is highlighting the change by putting all the ingredients on the Whopper's packaging for a limited time, reports Business Insider.

Some of the nation's biggest fast-food establishments are trending healthier. One of the leaders of this movement is Taco Bell, which according to its website has already removed artificial colors and flavors from its entire menu. As has BK's rival McDonald's—all in hopes of appealing to young customers who respond to “better-for-you” ingredients.

Of course, I'm all for getting rid of unnecessary artificial ingredients. But this doesn't really make the food any more wholesome or healthy, right? If young people are looking for quick yet nutritious food, they won't find it in a burger and fries combo.

↦ FYI: In February, the chain launched a campaign that showed a Whopper growing moldy and decomposing.

In Other News

Other Things We’re Talking About Today

Ranking everything David Fincher

Stuff we want now

Road trip life

We Searched for the Perfect Fall Jacket

And came up with a dozen of the best chore coats

As versatile as it is practical, the chore jacket is an old school workwear staple that has emerged as the modern man's choice of outerwear as we lean into fall 2020. Makes sense, considering the ample pockets come in handy for your mask, hand sanitizer and the rest of your EDC.

It's a jacket that's lived several lives, been co-opted by everyone from laborers to skaters and has since returned in fresh fabrications from a range of brands. What's more, they're easy to tailor to your own personal style and budget.

The Valet. team rounded up the best ones you can buy right now and I have to say, I want at least four of them myself.

What We’re Buying

With fall, comes the need to un-cuff our pants and switch from the summer-necessary no-show socks to something a bit warmer. The affordable Campfire sock from UpWest is perfect for the upcoming cooler temperatures. The fabric blend is cushy yet stretchy for ultimate comfort. And the classic look never goes out of style and pairs well with boots or Birkenstocks.

↦ Get It $12 at UpWest

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How I Supercharge My Day

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