Written by Tharushan Fernando
02 Oct, 2016 | 10:48 am
The Clinton campaign has shined their focus on a New York Times report about Donald Trump’s 1995 tax records.
The Times reveal that Trump declared a $916 million loss that could have allowed him to legally skip paying federal income taxes for years. The report casts more doubt over why Trump refuses to follow recent precedent and release his tax returns.
Following harsh debte polls that score Clinton as the winner Trump campiagn has stated that he has a “fiduciary responsibility” as a businessman to pay no more tax than legally required.
The Clinton campiagn has dubbed the revelation as a ‘bombshell’ and has sought to make Trump’s refusal to release his tax returns a major issue of the campaign.The Times’ report shows Trump that year declared a $916 million loss and lists tax benefits he used after a turbulent financial period for him in the early 1990s.
According to tax experts cited in the paper Trump could have used his loss to cancel out an equivalent amount of taxable income for nearly two decades
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