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Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes for Nearly Two Decades

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.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules 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.

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss.

“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. “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.”


No mention of federal income tax payments. At all. No mention of whether any of those "hundreds of millions of dollars" in other taxes were personally owed or paid by Donald J. Trump while he was exercising the "fiduciary responsibility" that allowed him to stiff contractors and bondholders on moneys owed and collect $45 million a year while his company's stock price plunged from $35.50 to 17 cents a share.

The loss was so huge that his accountant acknowledged having to add in the first two digits manually because the tax software he was using couldn't handle losses of that magnitude. LOL.

Trump's accountant, Jack Mitnick, besides verifying the authenticity of the returns, also had an awful lot to say for someone who is not at liberty to discuss the matter:

Mr. Mitnick, though, said there were times when even he, for all his years helping wealthy New Yorkers navigate the tax code, found it difficult to face the incongruity of his work for Mr. Trump. He felt keenly aware that Mr. Trump was living a life of unimaginable luxury thanks in part to Mr. Mitnick’s ability to relieve him of the burden of paying taxes like everyone else.

“Here the guy was building incredible net worth and not paying tax on it,” he said.


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If you could legally not pay taxes, would you still pay taxes?
If you were a business man and every dollar mattered, would you voluntarily give money to the government? If the IDIOT government wrote the tax code in a way that you didnt have to pay, would you still pay?

If I didnt have to pay taxes, there is no way I would pay.
I would wait for the government to fix it.
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Josh
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TheDashi wrote:
If you could legally not pay taxes, would you still pay taxes?
If you were a business man and every dollar mattered, would you voluntarily give money to the government? If the IDIOT government wrote the tax code in a way that you didnt have to pay, would you still pay?

If I didnt have to pay taxes, there is no way I would pay.
I would wait for the government to fix it.


Anti-social behavior is a running theme with you.
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Oldies but Goodies ... Avalon Hill and
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I know! How 'bout we let the voters decide on whether a billionaire who's running for president on a "help the little guy" platform should not only avoid paying taxes for years but should also hide that fact by refusing to release his returns.

Trump's position on this might be financially and legally sound, but if he really thought it was politically sound, he'd have released the returns. Instead, he says nothing, has his campaign release a mealy-mouthed justification, and contacts his lawyer in order to initiate "appropriate legal action." Good luck with that, Mr. Kasowitz. Freedom of the press is still freedom of the press.

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As a further aside, has anyone noticed that conservatives constantly bobble back and forth between whining that the wealthy pay too much in taxes and rationalizing when they pay nothing or next to nothing in taxes?

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David Hoffman
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SPIGuy wrote:
As a further aside, has anyone noticed that conservatives constantly bobble back and forth between whining that the wealthy pay too much in taxes and rationalizing when they pay nothing or next to nothing in taxes?


Well, if you're not doing so well, it probably pisses you off when folks who are doing well aren't "paying their fair share".

Simultaneously, a great deal of Americans live with the belief that they, too, will be fabulously wealthy someday; so they're wary of encouraging high tax rates on the wealthy for, you know, when it applies to them.
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Shadrach wrote:
TheDashi wrote:
If you could legally not pay taxes, would you still pay taxes?
If you were a business man and every dollar mattered, would you voluntarily give money to the government? If the IDIOT government wrote the tax code in a way that you didnt have to pay, would you still pay?

If I didnt have to pay taxes, there is no way I would pay.
I would wait for the government to fix it.


Anti-social behavior is a running theme with you.


Huh?
 
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SPIGuy wrote:
As a further aside, has anyone noticed that conservatives constantly bobble back and forth between whining that the wealthy pay too much in taxes and rationalizing when they pay nothing or next to nothing in taxes?



What is WRONG about not paying taxes if you are doing so legally?
 
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Ask Trump. He's the one hiding behind his lawyers, his campaign, and the IRS rather than releasing his returns like every presidential candidate since Nixon in '72. Do you seriously not fathom the difference between legal and political reality? Trump obviously does. That's the reason he's hiding his returns, using a thoroughly-discredited excuse for it, and threatening legal action against leakers and publishers when some of them come to light.

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SPIGuy wrote:
Ask Trump. He's the one hiding behind his lawyers, his campaign, and the IRS rather than releasing his returns like every presidential candidate since Nixon in '72. Do you seriously not fathom the difference between legal and political reality? Trump obviously does. That's the reason he's hiding his returns, using a thoroughly-discredited excuse for it, and threatening legal action against leakers and publishers when some of them come to light.



Do you have anything to back up your claim?? Or is this the whole, the left spouts crap like this against romney, but no one can really prove it, and you all do it just to smear people?
 
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Kelsey Rinella
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TheDashi wrote:
SPIGuy wrote:
Ask Trump. He's the one hiding behind his lawyers, his campaign, and the IRS rather than releasing his returns like every presidential candidate since Nixon in '72. Do you seriously not fathom the difference between legal and political reality? Trump obviously does. That's the reason he's hiding his returns, using a thoroughly-discredited excuse for it, and threatening legal action against leakers and publishers when some of them come to light.



Do you have anything to back up your claim?? Or is this the whole, the left spouts crap like this against romney, but no one can really prove it, and you all do it just to smear people?


Well, the only part of that which isn't a matter of public record is that the reason Trump has not released his tax returns is that he thinks the political reality would cause him problems. If you're accusing him of being so out of touch that he DOESN'T think that, I would say you're slinging a nastier baseless accusation than SPIGuy.
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TheDashi wrote:
SPIGuy wrote:
Ask Trump. He's the one hiding behind his lawyers, his campaign, and the IRS rather than releasing his returns like every presidential candidate since Nixon in '72. Do you seriously not fathom the difference between legal and political reality? Trump obviously does. That's the reason he's hiding his returns, using a thoroughly-discredited excuse for it, and threatening legal action against leakers and publishers when some of them come to light.



Do you have anything to back up your claim?? Or is this the whole, the left spouts crap like this against romney, but no one can really prove it, and you all do it just to smear people?


Trumps actions alone back up this claim. Now we know why he was hiding his taxes using the ludicrous argument that he was under audit . We would have found out the great businessman with "the best brain" managed to lose 916 million dollars. Add that to the scummy practices in his foundation, his misogynistic character coming to the fore again with his insane twitter attacks against the former Miss Universe, and one finds one does not need to "smear" The Donald, he managed to do this all on his own.

So sad your hero has feet of clay. Better luck next time
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Kumitedad wrote:
TheDashi wrote:
SPIGuy wrote:
Ask Trump. He's the one hiding behind his lawyers, his campaign, and the IRS rather than releasing his returns like every presidential candidate since Nixon in '72. Do you seriously not fathom the difference between legal and political reality? Trump obviously does. That's the reason he's hiding his returns, using a thoroughly-discredited excuse for it, and threatening legal action against leakers and publishers when some of them come to light.



Do you have anything to back up your claim?? Or is this the whole, the left spouts crap like this against romney, but no one can really prove it, and you all do it just to smear people?


Trumps actions alone back up this claim. Now we know why he was hiding his taxes using the ludicrous argument that he was under audit . We would have found out the great businessman with "the best brain" managed to lose 916 million dollars. Add that to the scummy practices in his foundation, his misogynistic character coming to the fore again with his insane twitter attacks against the former Miss Universe, and one finds one does not need to "smear" The Donald, he managed to do this all on his own.

So sad your hero has feet of clay. Better luck next time


The OrangeMan has been fucking us softly and slowly for decades. Some of us realize the violation and want to end it, but some just got used to it because of all the sweet talk.

There is a reason idiots always wind up losing... and I mean that for Trump and his supporters.
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It is so interesting what you all believe with no evidence about certain people, and even more interesting what you REFUSE to believe about other people when evidence is shoved up your asses.
 
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TheDashi wrote:
SPIGuy wrote:
Ask Trump. He's the one hiding behind his lawyers, his campaign, and the IRS rather than releasing his returns like every presidential candidate since Nixon in '72. Do you seriously not fathom the difference between legal and political reality? Trump obviously does. That's the reason he's hiding his returns, using a thoroughly-discredited excuse for it, and threatening legal action against leakers and publishers when some of them come to light.



Do you have anything to back up your claim?? Or is this the whole, the left spouts crap like this against romney, but no one can really prove it, and you all do it just to smear people?

Read the news, Poindexter. His lawyer is threatening to sue the Times for publishing his returns. He claims he can't release his returns because he's being audited, but tax experts repeatedly say this isn't true. His own accountant went on record to say that Trump was "not paying tax."

One plus one plus one equals three. It ain't rocket science. It also ain't rocket science to figure that some of those little guys who are supporting Trump might be a little pissed when they find out that they pay more income tax than their idol.

Mitt Romney paid $2 million in income taxes the year before he ran in the last election. Of course, Mitt was apparently smart enough to run his businesses profitably and not lose so much money that he breaks the tax software.

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TheDashi wrote:
It is so interesting what you all believe with no evidence about certain people, and even more interesting what you REFUSE to believe about other people when evidence is shoved up your asses.


Has it escaped your perception somehow that Trump's lawyers have threatened suit for the release of his tax forms. Indicating, that yes these are his tax returns.

Sorry boss, add this to the evidence that he violated the Cuban embargo, his insane late night twitter attacks, and his now unhinged accusations that Hillary cheated on Bill (based I guess on the voices in this head)

http://www.politico.com/story/2016/10/trump-accuses-hillary-...

.. and the only "interesting" part of this saga now is observing his supporters still managing to claim this lunatic belongs anywhere near the seat of power in the US.

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A fiduciary duty is to someone else. You can't have a fiduciary duty to yourself.
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Kumitedad wrote:
TheDashi wrote:
It is so interesting what you all believe with no evidence about certain people, and even more interesting what you REFUSE to believe about other people when evidence is shoved up your asses.


Has it escaped your perception somehow that Trump's lawyers have threatened suit for the release of his tax forms. Indicating, that yes these are his tax returns.

Sorry boss, add this to the evidence that he violated the Cuban embargo, his insane late night twitter attacks, and his now unhinged accusations that Hillary cheated on Bill (based I guess on the voices in this head)

http://www.politico.com/story/2016/10/trump-accuses-hillary-...

.. and the only "interesting" part of this saga now is observing his supporters still managing to claim this lunatic belongs anywhere near the seat of power in the US.


But Hillary! in 3, 2, 1....

 
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SPIGuy wrote:
Kumitedad wrote:
TheDashi wrote:
It is so interesting what you all believe with no evidence about certain people, and even more interesting what you REFUSE to believe about other people when evidence is shoved up your asses.


Has it escaped your perception somehow that Trump's lawyers have threatened suit for the release of his tax forms. Indicating, that yes these are his tax returns.

Sorry boss, add this to the evidence that he violated the Cuban embargo, his insane late night twitter attacks, and his now unhinged accusations that Hillary cheated on Bill (based I guess on the voices in this head)

http://www.politico.com/story/2016/10/trump-accuses-hillary-...

.. and the only "interesting" part of this saga now is observing his supporters still managing to claim this lunatic belongs anywhere near the seat of power in the US.


But Hillary! in 3, 2, 1....



He already did:

TheDashi wrote:
It is so interesting what you all believe with no evidence about certain people, and even more interesting what you REFUSE to believe about other people when evidence is shoved up your asses.
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Boaty McBoatface
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TheDashi wrote:
If you could legally not pay taxes, would you still pay taxes?
If you were a business man and every dollar mattered, would you voluntarily give money to the government? If the IDIOT government wrote the tax code in a way that you didnt have to pay, would you still pay?

If I didnt have to pay taxes, there is no way I would pay.
I would wait for the government to fix it.
If you want to portray yourself as 100% honest and moral would you freeload?

As I said before, if we were all as bent as Donny we could all be more successful, show me a successful business man and I will show you a crook.

A breath of fresh air my arse.
 
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SPIGuy wrote:
I know! How 'bout we let the voters decide on whether a billionaire who's running for president on a "help the little guy" platform should not only avoid paying taxes for years but should also hide that fact by refusing to release his returns.

Trump's position on this might be financially and legally sound, but if he really thought it was politically sound, he'd have released the returns. Instead, he says nothing, has his campaign release a mealy-mouthed justification, and contacts his lawyer in order to initiate "appropriate legal action." Good luck with that, Mr. Kasowitz. Freedom of the press is still freedom of the press.

Avoid paying, he may have been a beneficiary of "socialism for the rich".
 
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TheDashi wrote:
SPIGuy wrote:
As a further aside, has anyone noticed that conservatives constantly bobble back and forth between whining that the wealthy pay too much in taxes and rationalizing when they pay nothing or next to nothing in taxes?


What is WRONG about not paying taxes if you are doing so legally?


There's a continuum of paying and not paying taxes.

Here, we have a form of savings account that is tax free. It's a process defined by the government to encourage savings. It's limited in how much you can put in each year - though the limits are getting quite large, it's a definite middle class (UK use of phrase) advantage. There can be political arguments over the desirability of such accounts, but few people would consider it immoral to put money in one.

Further up the spectrum, companies have noticed dodges that involve paying their top managers (the one who caused the companies to look for these dodges) in strange ways that, by quirk of that no one considered the possibility, attracted lower taxes. They've never tried paying all their staff that way, because that would have caused a much faster closing of the loopholes. Is that immoral? You'd get a mixture of answers to that one. The point being that this wasn't a process that was intended.

Yet further, we may find that such a loophole was crafted and snuck in to legislation by the usual combination of companies, lobbyists and politicians. Of course that this could be used by a few to avoid taxes (often to the extent of not paying any taxes) was never advertised. Is that immoral? Most would say yes, because a critical part was the deception that was involved, not just the not paying taxes.

And many more examples.
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TheDashi wrote:
Shadrach wrote:
TheDashi wrote:
If you could legally not pay taxes, would you still pay taxes?
If you were a business man and every dollar mattered, would you voluntarily give money to the government? If the IDIOT government wrote the tax code in a way that you didnt have to pay, would you still pay?

If I didnt have to pay taxes, there is no way I would pay.
I would wait for the government to fix it.


Anti-social behavior is a running theme with you.


Huh?


Social, root society. Social behavior, things done with a mind to the benefit/impact on society. Anti-social, things done at the cost of/with no mind to society.
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Pontifex Maximus
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Too absolutely no one's surprise. This news is getting no play either on Breitbart or Drudgereport. Sounds like Matt Drudge might want in on the rumored Alt-right news empire of Trump and Bannon.
 
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TheDashi wrote:
If you could legally not pay taxes, would you still pay taxes?
If you were a business man and every dollar mattered, would you voluntarily give money to the government? If the IDIOT government wrote the tax code in a way that you didnt have to pay, would you still pay?

If I didnt have to pay taxes, there is no way I would pay.
I would wait for the government to fix it.


Remember when John Kerry dodged paying the voluntary Mass-hole higher tax rate or when he parked his yacht out of state to avoid taxes. The internet remembers https://www.creators.com/read/larry-elder/12/12/rich-lefties...

I know the nutters will try to use this as a gotcha moment, but I think most people would look to avoid taxes as well.I know nutters like the Op wont be able to differentiate between people like Trump who create more taxes through their business and employee's and the low income bottom feeders who actually cost us taxes through an endless cycle of draining the system and not contributing back into it.
 
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