According to the New York Times:
Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.
The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.
A lawyer for Mr. Trump, Marc E. Kasowitz, has also apparently emailed a letter to The Times arguing that publication of the records is illegal because Mr. Trump has not authorized the disclosure of any of his tax returns. Mr. Kasowitz threatened “prompt initiation of appropriate legal action.” The letter can be seen below.
The Trump Campaign did also release a statement on the issue that is probably just as important, if not more so, than his tax returns from 1995.
“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,” the statement said. “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.”
The statement continued: “Mr. Trump knows the tax code far better than anyone who has ever run for President and he is the only one that knows how to fix it.”
The moral of the story is more important than the trivial mud slinging that is going to go on now as a result of this however. If in fact he has not paid taxes for the last decade or so because of that loss, is it really HIS fault? No, it’s not. It is the fault of the tax code and the government that Liberals love to worship. If you don’t like how people are allowed to legally do things? Change it! Fix it! It’s Common Sense!
Here Are His Returns