The New York Times is claiming Donald Trump declared a loss just shy of $916 million on his 1995 income tax returns. The claim is based on leaked copies of Trump’s tax records sent to the newspaper.
The NY Times wrote on Saturday that the amount of the claimed loss would have allowed Trump to avoid paying an equivalent amount of federal income tax over an 18-year period.
This revelation will no doubt be used by Hillary Clinton in the upcoming debate on October 9. Odds are she will claim this is why Trump has declined to release his tax returns. The 1995 tax records reveal the huge tax benefits a billionaire like Trump can receive. The loss in 1995 came on the heels of his Atlantic City troubles and his failed airline business.
The NY Times reported that the documents were mailed to one of its reporters last month. The return address indicated that they had been sent from Trump Tower. The paper said it had confirmed the returns’ accuracy with Trump’s then-accountant, David Mitnick.
The Trump campaign issued a statement late Saturday saying the documents had been “illegally obtained” and called The Times “an extension of the Clinton Campaign, the Democratic Party and their global special interests.” Trump has not denied the reported loss.
The NY Times pointed out that Trump didn’t do anything illegal. The deductions were available to him via the existing tax codes. However, this entire event will place incredible pressure on Trump to release his tax returns soon. If he does not, the risk becomes great as Americans could start to believe he has more to hide.
FULL STATEMENT BY TRUMP CAMPAIGN:
The only news here is that the more than 20-year-old alleged tax document was illegally obtained, a further demonstration that the New York Times, like establishment media in general, is an extension of the Clinton Campaign, the Democratic Party and their global special interest.
What is happening now with the FBI and DOJ on Hillary Clinton’s emails and illegal server, including her many lies and her leis to Congress are worse than what took place in the administration of Richard Nixon – and far more illegal.
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. 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, along with a very substantial charitable contribution.
Mr Trump knows the tax code far better than anyone who has ever run for President and he is the only one that knows how to fix it.
The incredible skills Mr Trump has shown in building his businesses are the skills we need to rebuild this country. Hillary Clinton is a corrupt public official who violated federal law, Donald Trump is an extraordinarily successful private businessman who followed the law and created tens of thousands of jobs for Americans.
Sign up to get breaking news alerts from Dennis Michael Lynch.
TRUMP SPEAKING IN PA. Watch LIVE