Trump Said to Resist Pressure to Show Taxes After NYT Story
Source: Bloomberg
Donald Trump wont release any new tax information in response to revelations that he claimed a massive tax loss in 1995 that potentially allowed him to eliminate his federal income-tax bill for almost two decades, according to two people familiar with the campaigns thinking.
The New York Times reported late Saturday that the Republican presidential nominee recorded a $916 million loss on his 1995 income tax return, and as a result may have been able to reduce his tax bills for as many as 18 years.
The report is expected to increase pressure on Trump to release his tax returns, as major party nominees have for decades. He has said he wont do so until the Internal Revenue Service concludes an audit. While no law prevents people from disclosing their records while under audit, tax advisers say doing so would subject the returns to public scrutiny that might uncover issues auditors had missed.
Trumps supporters shot back on Sunday against the Times report, calling the real estate developer a genius and portraying him as a turn-around artist who would be good for the country. Hes a genius at how to take advantage of legal remedies that can help your company survive and grow, former New York City Mayor and Trump campaign adviser Rudy Giuliani said on ABC News This Week with George Stephanopoulos. On NBCs Meet the Press Giuliani said that great men have big failures.
Read more: http://www.bloomberg.com/politics/articles/2016-10-02/trump-won-t-be-pressured-into-releasing-taxes-by-nyt-loss-story
FailureToCommunicate
(14,026 posts)From the same article:
Senator Bernie Sanders of Vermont, Clintons competitor in this years Democratic primary, said on ABC:
If Mr. Giuliani thinks that Mr. Trump is smart and all the rest of us are dummies because we believe in America, we believe in our kids, we believe in national defense, well, I think they have a very distorted view of the American people and what this country is about."
DLnyc
(2,479 posts)Clearly, when he said " . . . great men have big failures," what he meant to say is, "Some men are great big failures!"
gvstn
(2,805 posts)Ruby the Liberal
(26,219 posts)Control-Z
(15,682 posts)Have thought it for years. It's only a matter of time before it is discovered. Seems to me, few fortunes these days are legitimate.
bucolic_frolic
(43,364 posts)is worse than the $916 million in losses
Could be larger losses, fraud, foreign creditors so often speculated about,
anything is possible, concubines heretofore unknown
As far as speculation about what's in there, the sky's the limit
Foggyhill
(1,060 posts)His taxes are so horrendously horrible that anything we think about is less than what is in them.
Stonepounder
(4,033 posts)Helen Borg
(3,963 posts)rickford66
(5,530 posts)LastLiberal in PalmSprings
(12,600 posts)The basic element of a good magic trick is to divert the audience's attention to one place while the real action is happening somewhere else. The three pages that magically appeared from the Trump Palace and Christie and Giliuani and Trump pitching the line that that settles the need to produce his taxes makes it even more urgent we keep the pressure on. There's something being hidden in those recent tax forms which are allegedly being audited (has he ever produced the IRS letter telling him he's being audited?).
mrmpa
(4,033 posts)except his remedy to help the US survive and grow is to go to war & take the resources from the counties that are invaded.
randome
(34,845 posts)He said no one was really pressing him to release them.
Well, now they are.
[hr][font color="blue"][center]The truth doesnt always set you free.
Sometimes it builds a bigger cage around the one youre already in.[/center][/font][hr]
riversedge
(70,347 posts)al supporters
truthisfreedom
(23,159 posts)buffoons.