The New York Times released a partial set of 1995 state tax documents belonging to Donald Trump. The illegally obtained 20 year old tax documents show Trump declared a $916 million loss in 1995 by using legal tax deductions that made his tax liability was zero. The NY Times article contains a lot of might have, could have and may not to imply that the business loss declared in 1995 might have resulted in Trump not paying taxes in some subsequent years.
Hillary Clinton claimed a $699,5000,00 loss in 2015. She also used the legal tax code of historical losses to avoid paying some taxes in 2015.
New York Times paid no taxes in 2014 and received an income tax refund of $3.5 million with a pre-tax profit of $29.9 million in 2014.
But the Times itself has “avoided” paying taxes — in 2014, for example.
As Forbes noted at the time:… “for tax year 2014, The New York Times paid no taxes and got an income tax refund of $3.5 million even though they had a pre-tax profit of $29.9 million in 2014. In other words, their post-tax profit was higher than their pre-tax profit. The explanation in their 2014 annual report is, “The effective tax rate for 2014 was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations.” If you don’t think it took fancy accountants and tax lawyers to make that happen, read the statement again.”
New York Mayor Rudy Giuliani defended Trump on Sunday, telling NBC News’ Meet the Press that Trump was a “genius” in business who was simply doing what the tax code allows every American to do by counting losses against tax liabilities, and bouncing back from failure to success.
That would include the New York Times — which, however, is still struggling.BreitBart