Could have, would have, should have.
The New York Times has obtained Donald Trump’s 1995 federal income tax return and the revelation is prompting speculation galore from the GOP nominee’s detractors.
Never mind that, if accurate, the return is a one year snap shot into a long, complicated business career by the real estate mogul.
Trump's 1995 taxes show a $916 million loss, suggesting he could have paid no federal taxes for up to 18 years https://t.co/kedGabJpxe
— The New York Times (@nytimes) October 2, 2016
The information was sent to The Times anonymously through the mail with a return address of Trump Tower and showed that Trump took a $916 million loss that year which may or may not have allowed him to avoid paying income taxes for a number of years by using the loss to cancel out an equivalent amount of taxable income, the newspaper reported.
More From The Times:
Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.
The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan
Naturally, Democratic rival Hillary Clinton, who criticized Trump during the first presidential debate last week for not releasing his tax returns, jumped at the chance to push the issue.
Taking to social media, Clinton spokesman Brian Fallon claimed Trump “was sweating” the glimpse into his tax records, courtesy of The Times.
Trump arrived late to his event tonight & gave a particularly unhinged set of remarks. Clearly he was sweating this looming NYT report
— Brian Fallon (@brianefallon) October 2, 2016
The Trump campaign issued a statement late Saturday saying Trump “knows the tax code far better than anyone who has ever run for president and he’s the only one that knows how to fix it,” Fox News reported.
The campaign said the documents were “illegally obtained” by The Times and claimed the newspaper is “an extension of the Clinton Campaign, the Democratic Party and their global special interests.”
“Mr. Trump is a highly-skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required,” the statement said, according to Fox News reported. “That being said, Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes, along with very substantial charitable contributions.”
Considering the impact of then-Senate Majority Leader Harry Reid claiming 2012 Republican nominee Mitt Romney paid no income taxes for ten years, expect Democrats to continue push the speculation that Trump too may have avoided paying taxes.
- Star player sets off firestorm for mulling retirement over NFL’s new harsh vaccine penalties - July 23, 2021
- At least two Jan 6 attorneys describe brutal conditions and ‘beatdowns’ allegedly by jail guards - July 23, 2021
- Facebook moderators in US, Europe demand an end to stifling NDAs and ‘culture of fear and secrecy’ - July 23, 2021