Donald Trump’s ‘Tax Avoidance’ Revelations Could Cost Him Presidency

By : Alex MaysTwitterLogo

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Throughout his presidential campaign, Donald Trump has stumbled from one controversy to another, without really feeling any repercussion whatever.

If anything, it’s somehow made him even more popular in the polls – with supporters enjoying his ‘shoot from the hip’ style, because that’s definitely the kind of world leader you want.

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So perhaps we should have believed him when he said he could go onto Fifth Avenue, shoot someone and get away with it.

The fact he’s got so far on the back off basically spouting pure hatred towards pretty much anyone who isn’t rich, white and male (funny that) just shows how fucked up the state of politics in the United States really is at the moment.

But could the business mogul’s campaign finally be crumbling down around him?

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Shocking revelations have been made in The New York Times that Trump declared such a massive loss on his struggling businesses back in 1995, that it could have allowed him to legally avoid paying any federal income taxes for up to 18 years.

The newspaper published his tax returns in full after he refused to do so (couldn’t imagine why) and it showed that his then failing businesses reported a monumental loss of $916 million (£705m) to the tax authorities.

The article disclosed: 

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

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After seeking advice from tax experts, they soon discovered that a loss of that scale would have allowed ‘The Donald’ to use the loss to cancel out the equivalent amount of taxable income over an 18-year period.

If the analysis by The New York Times is correct, Trump could even have avoided paying taxes on the $50,000 to $100,000 he earned per episode on The Apprentice.

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The Trump campaign issued a statement, which didn’t even deny the allegations, but instead highlighted the fact he had paid a wide range of other taxes.

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They said:

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. 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.

This probably shouldn’t come as a huge shock, considering when Trump was quizzed about avoiding tax in the first presidential debate, he replied that not paying taxes showed he was ‘smart’.

And in true Trump style, he’s since tweeted that he knows best about tax law:

Of course you do Donald, of course you do. But don’t worry guys, he’ll sort it all out:

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Yes Donald, because it’s in your own fucking businesses. You could literally say that for anyone who owns a business, how else would you run a fully-functioning businesses without hiring anyone?

This latest incident unfolded as Trump mocked Hilary’s pneumonia episode at his latest rally in Manheim, Pennsylvania, adding that she is mentally unstable, lacking in stamina, corrupt and should be in prison.

The same could probably be said for him, to be fair…

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Can they just put us out of our misery and finish this election now, please?


Credits

The Independent

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