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Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes [more]
The New York Times ^ | OCT. 1, 2016 | By DAVID BARSTOW, SUSANNE CRAIG, RUSS BUETTNER and MEGAN TWOHEY

Posted on 10/01/2016 6:45:21 PM PDT by M. Thatcher

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.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said tax rules that are especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

(Excerpt) Read more at nytimes.com ...


TOPICS: Front Page News; Politics/Elections
KEYWORDS: journoblogger; journobloggers; nyttrumpattack; sulzbergersblog; taxes; trump; trumphitarticle; trumptaxes
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To: Voluntaryist

I saw the tweet. Cernovich has an opinion. Like everybody else. Grain of salt, IMO.


141 posted on 10/01/2016 8:26:49 PM PDT by lodi90 (Clear choice for Conservatives now: TRUMP or lose)
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To: Voluntaryist
If those documents were really mailed to the NY Times from Trump Tower, then Donald Trump is a genius.

The NY Times played right into his hands by running this story. Now he has a perfect excuse not to release his tax returns. For one thing, he can claim that someone at the NY Times already has them (even if they don't). And he can also play the aggrieved victim here by complaining about the release of this information.

LMAO.

142 posted on 10/01/2016 8:29:44 PM PDT by Alberta's Child ("Go ahead, bite the Big Apple ... don't mind the maggots.")
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To: M. Thatcher

Trump should respond with a video attacking the absurdity in this “news.”

First, he should point out that these ‘journalists’ have never risked a dime to write a bogus story.

Second, he should point out that businesses fail with corresponding losses of money. This does not imply mismanagement. (I know, personally - having risked almost our entire life savings on a project that was scuttled at the last minute by government fiat. This is why this article creates a glowing rage in me).

Third, he should point out that the authors and their bosses would most certainly take every tax break possible if they incurred a loss in a venture.

Fourth, he should point out that they would be following the tax laws, exactly as he did.

Fifth, he should point out that the Supreme Court counseled citizens that they should not pay one cent more tax than they are obligated to pay under law.

Sixth, he should point out the authors of this tripe should contact their legislators if they have a problem with the way the law is written.


143 posted on 10/01/2016 8:34:17 PM PDT by Chaguito
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To: Alberta's Child
Yes! I'm pretty sure this is the true source of the new "leak"

144 posted on 10/01/2016 8:34:31 PM PDT by Voluntaryist
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To: M. Thatcher
Why couldn't Sulzberger's Blog dug up any of Trump's grandfather's tax records that would show that the entire Trump family was exempt from taxes until 2183?


145 posted on 10/01/2016 8:35:25 PM PDT by kiryandil (George H. W. Bush: "Read my lips. I'm a Republican.")
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To: M. Thatcher

The journobloggers at Sulzberger’s & Bezos’ Blogs are bleeding out the eyes...


146 posted on 10/01/2016 8:38:16 PM PDT by kiryandil (George H. W. Bush: "Read my lips. I'm a Republican.")
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To: M. Thatcher

The article said “could have” it does not state that he did in fact write off those losses for the next 18 years. That tells me they have nothing and this is going nowhere. He followed the law.


147 posted on 10/01/2016 8:55:16 PM PDT by katieetx828
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To: M. Thatcher

Trump Runs Crooked Hillary's Media Gauntlet


148 posted on 10/01/2016 8:55:38 PM PDT by kiryandil (George H. W. Bush: "Read my lips. I'm a Republican.")
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To: Alberta's Child
Also: 1995

All of Crooked Hillary and Raping Bill's actions 1995 and after are now fair game.

149 posted on 10/01/2016 8:58:30 PM PDT by kiryandil (George H. W. Bush: "Read my lips. I'm a Republican.")
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To: M. Thatcher
The documents consisted of three pages from what appeared to be Mr. Trump’s 1995 tax returns. The pages were mailed last month to Susanne Craig, a reporter at The Times who has written about Mr. Trump’s finances. The documents were the first page of a New York State resident income tax return, the first page of a New Jersey nonresident tax return and the first page of a Connecticut nonresident tax return. Each page bore the names and Social Security numbers of Mr. Trump and Marla Maples, his wife at the time. Only the New Jersey form had what appeared to be their signatures.

The three documents arrived by mail at The Times with a postmark indicating they had been sent from New York City. The return address claimed the envelope had been sent from Trump Tower.

So the NYT held onto them for possibly a month? Of course they would as they timed this until Trump had a bad week in the media. It's an interesting time to drop these considering it's Saturday night, but I suppose they want them to be a topic of discussion on the morning news shows Sunday.

It's not a lot of documents, and they were sent from Trump Tower - either someone close to Trump or likely someone trolling by mailing it from there.

The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably triggered extra scrutiny from Internal Revenue Service examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.

The bottom line is that he did nothing illegal, and you know that the NYT tried to find an expert to say that he did. According to Trump, he has been audited every year for the past 12 years. If he had done something illegal, then I'm certain the IRS would have come down on him.

The tax documents also do not shed any light on Mr. Trump’s claimed net worth of about $2 billion at that time.

This obviously shows that Trump has gotten wealthier since then. He claims $10 billion, but even if we go with Forbes number, then his net worth now is around $4 billion. As the Times says:

Nor does the $916 million loss suggest that Mr. Trump was insolvent or effectively bankrupt in 1995.

Also:

....They also suggest Mr. Trump took full advantage of generous tax loopholes specifically available to commercial real estate developers to claim a $15.8 million loss in 1995 on his real estate holdings and partnerships.

Trump takes advantage of tax laws. Scandalous.

But the most important revelation from the 1995 tax documents is just how much Mr. Trump may have benefited from a tax provision that is particularly prized by America’s dynastic families, who, like the Trumps, hold their wealth inside byzantine networks of partnerships, limited-liability companies and S corporations.

Trump takes advantage of a legal provision the other wealthy people use. Scandalous.

150 posted on 10/01/2016 8:59:03 PM PDT by Pinkbell (http://dtforpres.blogspot.com/)
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To: VRWCarea51

If I followed the story correctly...Hillary bragged about the fact they made an $8M donation to charity. I believe the charity was the Clinton Foundation...thereby making slush funds tax deductible.


151 posted on 10/01/2016 9:01:52 PM PDT by gogeo (Black Lives Matter to Donald Trump.)
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To: chuck allen

Carry over losses - business and personal are allowed.


152 posted on 10/01/2016 9:04:28 PM PDT by HollyB
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To: sparklite2

I believe it’s much longer than that.


153 posted on 10/01/2016 9:07:18 PM PDT by HollyB
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To: sparklite2
I haven’t read GAAP in years, but I think any given tax loss carry-forward is only good for seven years.

The journobloggers at Sulzberger's Blog are counting on the fact that the tax code is Greek to most Americans.

154 posted on 10/01/2016 9:09:39 PM PDT by kiryandil (George H. W. Bush: "Read my lips. I'm a Republican.")
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To: kiryandil
Also: 1995 All of Crooked Hillary and Raping Bill's actions 1995 and after are now fair game.

WEW!!!!
155 posted on 10/01/2016 9:09:50 PM PDT by Voluntaryist
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To: lodi90; rolling_stone

There is a good probability that Trump himself had these mailed to Sulzberger’s Blog. :)


156 posted on 10/01/2016 9:12:46 PM PDT by kiryandil (George H. W. Bush: "Read my lips. I'm a Republican.")
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To: Right_in_Virginia
Can’t do. I’m not on twitter.

You can READ Twitter.

You don't to be "on it". I've been lurking on Twitter for several months.

https://twitter.com/Cernovich

It's just like any other website - only better.

The War has shifted to Twitter. A new front in The War opened today: #BasementDweller:


157 posted on 10/01/2016 9:22:18 PM PDT by kiryandil (George H. W. Bush: "Read my lips. I'm a Republican.")
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To: <1/1,000,000th%

“They claim they have the illegally acquired records.”

The tax returns may have been obtained illegally, but they were published legally.


158 posted on 10/01/2016 9:32:52 PM PDT by Timpanagos1
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To: Cboldt

The opening sentence of the article.


159 posted on 10/01/2016 9:34:44 PM PDT by EDINVA
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To: M. Thatcher

Trump needs to throw a massive lawsuit on the IRS. Let’s see how many of those crooked, lying bastards we can get to plead the Fifth. It could be “historical”.


160 posted on 10/01/2016 9:34:51 PM PDT by FlingWingFlyer (Forget the media's "endorsements" of Clintoon. They are unfit to be Americans. Vote Trump!)
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