The NY Times’ Transparent (and Hypocritical) October Surprise of Trump’s Tax Returns
There’s only one news story popping up for the Sunday morning circus and it’s the long anticipated October surprise from The New York Times. Late Saturday evening they released a partial set of state tax documents belonging to Donald Trump which show a nearly one billion dollar business loss he took more than twenty years ago. As Business Insider explains, this factoid allows them to speculate that The Donald may have paid no federal taxes for nearly twenty years.
Donald Trump may have avoided paying federal income taxes for 18 years, according to tax records obtained by The New York Times and published on Saturday night.
The documents indicated that Trump declared a $916 million loss in 1995, providing him with a deduction so large it could have eliminated his obligation to legally pay annual federal taxes by up to $50 million for nearly two decades, tax experts told The Times.
The fire under all of this smoke is, of course, barely enough to light a cigar, but that’s not the point of the story. You’ll notice a constant set of phrases in all of the coverage of this “bombshell” release. They include things such as, might have and could have or may not have paid. That’s because the actual document only shows a massive loss which Trump claimed in 1995. What’s been established is that the loss in question opened the door to Trump potentially not owing any federal taxes over a considerable period of time because of the $916M loss. What’s also mentioned in decidedly muted tones is that if Trump wound up not owing any federal tax, that it was completely legal.
Let’s assume for a moment that Trump took full advantage of the tax laws in the way being described. (And frankly I’d start questioning his sanity if he didn’t.) This means that the Times has “caught” him following the tax code to pay the smallest amount of tax possible under the law. I mean, it’s not like anyone else does that, right? If Trump were A Good Person he would have massively overpaid his taxes and then we could all celebrate what a wonderful fellow he is, just like the people who handle the tax returns of the New York Times. Oh, wait… in 2014 the Gray Lady paid zero taxes and received millions in refunds despite having declared a substantial profit. (Read more from “The NY Times’ Transparent (and Hypocritical) October Surprise of Trump’s Tax Returns” HERE)
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