Two days after the New York Times published a copy of a 1995 IRS filing showing how Trump used U.S. tax code to take a nearly $1 billion operating loss and may have not paid federal taxes for 18 years, Trump dismissed the filing saying the news media “obsessed” with a tax return that shows how he “brilliantly used the law” to create a company worth billions.
“From the depths of that terrible real estate depression, I created a company worth billions and billions of dollars and created tens of thousands of jobs,” Trump, the Republican presidential nominee, said at a campaign stop in battleground state Colorado. “Everybody said I was done. I knew how to use the tax code while others didn’t.”
While Clinton called this story a “bombshell” and said that Trump had used tax loopholes to “take from America with both hands and leave the rest of us with the bill,” Trump is arguing that he knows the country’s “complex tax laws better than anyone who has ever run for president” and he knows how to fix them.
Trump’s campaign issued a statement arguing that the documents on which The Times based its story were “illegally obtained.”
Former Trump campaign manager Corey Lewandowski urged Trump on Monday morning to sue the newspaper.
Lewandownski said “The New York Times should be held accountable. If it comes out that these aren’t accurate, where’s the recourse?”
On Sunday, New Jersey Gov. Chris Christie and former New York Mayor Rudy Giuliani defended Trump’s 1995 returns as legal and said they showed his business “genius.”
While in Toledo, Clinton asked a crowd “What kind of genius loses a billion dollars in a single year?”
Clinton is railing on Trump for his loss from two decades ago, but according to Clinton’s IRS returns she reported a $700,000 long-term capital loss in 2015.
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