The Trump campaign will be facing the media again to defend the recent Tax documents of Donald Trump obtained by the New York Times. The tax documents show that the GOP candidate may not have paid taxes for 18 years.
According to the New York Times, the tax document shows that Trump declared a $916 million loss on his 1995 income, and this deduction is large that could make him legally avoid tax for 18 years.
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The tax documents of his 1995 tax records had never seen the light of the day before, and during the presidential debate, Hillary Clinton asked that Donald Trump release his tax records, but he told Hillary that he will release the documents, even though his lawyer go against it, but he would only release it if Hillary Clinton release her 30,000 emails
In a statement from the Trump campaign;
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, along with very substantial charitable contributions.
Donald Trump had always claimed that he could not release the tax documents because they are under audit.
The NYT in its story by its hired tax expert reported that ;
rules that are 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."
The Times added: "Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years.
Trump in response to the tax document leakage said that; “The only news here is that the more than 20 year-old alleged tax document was illegally obtained.”