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 ...
You may want to re-read that 2008 Huff Post piece.
When is the IRS going to AUDIT the Clintoon Foundation?
The fire occurred during the 2007-08 run. I remember specifically wondering why the taxes were in Indiana, as well as noticing in the news report I saw that Bill Clinton was THERE; there’s no reference to BJ’s being there in any written report I have found.
Let’s wait and see what Assange’s got....then we’ll weigh and measure...lolololol
I'd love to hear from any Freepers who have some insight on this.
Just think about all the fraud, waste and abuse in the US govt.
If I could claim nearly $1 billion loss, I would too!
Interesting. The NY Slimes’s paywall almost always blocks me from reading any NYT linked article. But they didn’t for this “article”...I WONDER WHY?
How does The Times “obtain” a tax return?
The corrupt IRS handed them over.
It resets every month, hence the timing of this story.
This doesn’t make sense. the IRS would have copies.
It came from a guy at a Kinko's in Abilene, TX...
Trump’s response:
http://www.nytimes.com/interactive/2016/10/01/us/politics/donald-trump-letter.html
The article is satire.
It’s a joke.
It’s supposed to be funny.
Groundbreaking journalism for sure.
Ahh...timing. You’re almost certainly right. They released the hit piece right after the limit resetting——nicely planned.
At a press conference in Pittsburgh, Mrs. Clinton said that the incineration of her tax records was “a great personal loss,” adding, “I was so looking forward to sharing them with the American people.”
Why didn’t someone ask her about the IRS copies?
No way to know from the information given. According to the Times article they received 3 pages, which appear to the be the first page of NY, NJ and CT state returns for 1995. He has commented that his filings are hundreds of pages, and I find that plausible. This kind of selective view is damaging, and without the remaining information, there is no way to prove or disprove the insinuation.
He has to be ready for this. It was out there as general issue for months, and was used, effectively, against Romney. I’d watch for the next 36 hours to see his response.
see post #52
This piece of crap newspaper is why Trump was so angry tonight
They got this illegally
Sue their pants off, Trump!
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