Donald J. Trump
declared a $916 million loss on his 1995 income tax returns, a tax
deduction so substantial it could have allowed him to legally avoid
paying any federal income taxes for up to 18 years, records obtained by
The New York Times show.
experts hired by The Times to analyze Mr. Trump’s 1995 records said
that tax rules especially advantageous to wealthy filers would have
allowed Mr. Trump to use his $916 million loss to cancel out an
equivalent amount of taxable income over an 18-year period.
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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.
His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
Scott is a former President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of articles for (more...)