Saturday evening, the New York Times reported that Donald Trump lost nearly $1 billion in 1995, based on tax documents mailed to a Times reporter. As the Times explains, such a gargantuan loss “could have allowed him to legally avoid paying any federal income taxes for up to 18 years,” because Trump can count losses in 1995 against future income in subsequent tax years.
Both Christie and Giuliani had the same spin on Trump’s ability to use his massive losses to offset tax liability in later years. “There’s no one who’s shown more genius in their way to maneuver about the tax code as he rightfully used the laws to do that,” Christie told Fox News’ Chris Wallace. “The man is a genius!” Giuliani proclaimed. “He knows how to operate the tax code.”...
https://thinkprogress.org/trump-campaign-spins-trumps-nearly-billion-dollar-loss-as-genius-3e986436907e#.pnmzw2d81
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