The New York Times reported that Republican Presidential Nominee Donald Trump might have avoided paying taxes for nearly two decades. Trump declared a $916 million loss on his 1995 income tax returns, a deduction so large it might have enabled him to avoid paying any federal income tax for up to 18 years.
These tax records were mailed to a reporter at The New York Times and the return address indicated they were sent from Trump Tower in New York City.
The New York Times reported that “Tax 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.”
The Clinton campaign ripped Trump over the report, calling it a "bombshell".
“There it is. This bombshell report reveals the colossal nature of Donald Trump’s past business failures and just how long he may have avoided paying any federal income taxes whatsoever. In one year, Donald Trump lost nearly a billion dollars. A billion. He stiffed small businesses, laid off workers, and walked away from hardworking communities. And how did it work out for him? He apparently got to avoid paying taxes for nearly two decades — while tens of millions of working families paid theirs.”
Trump accused The New York Times of breaking the law in acquiring the document, adding that it served as yet another sign the paper is biased in favor of Mrs. Clinton.
“The only news here is that the more than 20 year-old alleged tax document was illegally obtained, a further demonstration that the New York Times, like establishment media in general, is an extension of the Clinton Campaign, the Democratic Party and their global special interests.”
A major point of contention during the first presidential debate last week was when Hilary Clinton called upon Trump to release his tax returns. Trump stated that he hadn’t released them due to an audit and retorted that he would release his taxes when Secretary Clinton released her emails.