The cat, it seems, has finally sprung loose from the proverbial bag of Republican presidential nominee Donald Trump as it relates to Trump’s taxes. A new shocking investigation has revealed shocking details that have steep implications for the businessman who has been refusing to release his taxes for the entirety of his campaign. Now we know why.
The New York Times uncovered that Trump filed a $916 million loss in 1995 on his federal income taxes. With the loss being a tax deduction it means Trump would theoretically not have to pay any taxes for up to 18 years, or until as recently as 2013.
Does Trump deny the findings of the New York Times? Not exactly. Trump’s campaign said in a statement:
“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.”
The contortions from Trump continue to grow convoluted. First he refused to release his taxes due to an audit. Then he said he wouldn’t release them at all. Now that information has come to light which exposes his tax meddling, rather than deny anything he takes credit for being able to outfox the government. That is Trump’s game — project confidence even in the face of overwhelming defeat.
Learn more below: