Posted on 10/31/2016 7:39:24 PM PDT by Oldeconomybuyer
Donald J. Trump proudly acknowledges he did not pay a dime in federal income taxes for years on end. He insists he merely exploited tax loopholes legally available to any billionaire — loopholes he says Hillary Clinton failed to close during her years in the United States Senate. “Why didn’t she ever try to change those laws so I couldn’t use them?” Mr. Trump asked during a campaign rally last month.
But newly obtained documents show that in the early 1990s, as he scrambled to stave off financial ruin, Mr. Trump avoided reporting hundreds of millions of dollars in taxable income by using a tax avoidance maneuver so legally dubious his own lawyers advised him that the Internal Revenue Service would most likely declare it improper if he were audited.
Thanks to this one maneuver, which was later outlawed by Congress, Mr. Trump potentially escaped paying tens of millions of dollars in federal personal income taxes. It is impossible to know for sure because Mr. Trump has declined to release his tax returns, or even a summary of his returns, breaking a practice followed by every Republican and Democratic presidential candidate for more than four decades.
Tax experts who reviewed the newly obtained documents for The New York Times said Mr. Trump’s tax avoidance maneuver, conjured from ambiguous provisions of highly technical tax court rulings, clearly pushed the edge of the envelope of what tax laws permitted at the time. “Whatever loophole existed was not ‘exploited’ here, but stretched beyond any recognition,” said Steven M. Rosenthal, a senior fellow at the nonpartisan Tax Policy Center who helped draft tax legislation in the early 1990s.
(Excerpt) Read more at nytimes.com ...
Hey NYT’s, this is some weak ass shit.
Weak Sauce
LMAO.. This is why no one takes the media seriously anymore..
Oooh.
“Dubious methods”.
I’m soooo scared.
Is that all they got? Lol. He legally? Gotta be kidding.
“Legally dubious” is apparently the left’s phrase for “legal, but we don’t like it”.
The Empire Strikes Back.
How many jobs has Trump created? And how many taxpayers in his organization?
Took 5 of them to come up with this?
Is this all you have NYTs? Pitiful.
Meh! No controlling legal authority.
>>>Donald J. Trump proudly acknowledges he did not pay a dime in federal income taxes for years on end<<<
The first sentence and it’s a complete LIE. Donald Trump never acknowledged he did not pay a dime in Federal Taxes.
Didn’t bother reading a word after that. What a bunch of Bull Feces.
Who reads that toilet paper?
In any event, although Trump is ultimately responsible for his taxes, it was his accountant who used the loophole. The accountant bragged about it publicly. He was a bit put off that Trump took the brilliance credit, when in fact, it was the accountant who was the brilliant one!
Correct. “Mr. Trump’s tax avoidance maneuver...” is mentioned to distract from the vicious Clinton Foundation. Trump has survived worse slander. Nothing will cure the 100% repulsion that people feel toward the Clintons. It upsets me that Fox News will have a host talk about the news with Hillary speaking in the background. So I change channels. I like the show “American Pickers” on the History channel.
OMG! A taxpayer wanted to use as many loopholes as possible so not as to pay taxes. This is Hugh and Series.
Five writers? That’s a record.
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