How Donald Trump allegedly managed to avoid paying federal tax for eighteen years
According to the "New York Times", the Republican candidate declared abysmal losses in 1995 which would have allowed him to benefit from a huge tax break.
Republican White House candidate Donald Trump may have legally avoided paying federal tax for nearly twenty years by reporting losses of $ 916 million in 1995, the New York Times revealed on Saturday, October 1 .
The New York Times explains that it had access, through an anonymous source, to Donald Trump's tax return for 1995. Donald Trump would then have "declared losses of $ 916 million", according to the document published by the New York daily:
Although his taxable income for subsequent years is unknown, reporting such a large amount of losses may have allowed Donald Trump to legally subtract $ 50 million from his taxable income each year "for eighteen years." , i.e. until 2013.
Donald Trump's former accountant: “He knew we could use the tax code to protect him" https://t.co/DWOXvXUoKz pic.twitter.com/2dDx9mZTpp
— The New York Times (@nytimes) October 2, 2016
The abysmal losses that Mr. Trump would have suffered are due, according to the New York Times, to his resounding failures in the casino world of Atlantic City, on the East Coast, and to other debacles in the hotel industry and Transportation by air.
Donald Trump refuses to release his recent statements
Asked about the New York Times article, the Republican candidate did not react immediately. His campaign team issued a statement, which does not mention the $ 916 million in losses, but assures that Donald Trump, "a talented businessman," "does not pay more taxes than required the law ". The New York Times, again accused Mr. Trump's team, "is just an extension of the Clinton campaign, the Democratic Party and their specific interests."
The question of the taxes of the American billionaire is essential, and very sensitive at the same time, because the real estate mogul has always refused to make public his tax returns, a gesture traditionally performed by candidates for the presidency of the United States. for the sake of transparency.
His Democratic rival, Hillary Clinton, did so, by publishing the details of his tax returns on his campaign site in August: we learn that Bill and Hillary Clinton declared $ 10.6 million in income. in 2015, and paid $ 3.6 million in federal tax that same year.
