Thursday, November 3, 2016

NYT: We've Figured Out How Trump Gamed the Tax System

A few weeks ago the New York Times got hold of the first page of Donald Trump's 1995 tax return. It showed a net operating loss of $916 million, which Trump was able to use to offset his income over the next 20 years, thus avoiding millions of dollars in income taxes. But while solving one mystery, it opened another: Just exactly how did Trump manage to declare such a big loss? Several theories made the rounds, but the Times now thinks it has the answer, thanks to a cache of "newly obtained documents." Here's the nutshell version of the Times' explanation:...
http://www.motherjones.com/kevin-drum/2016/11/nyt-weve-figured-out-how-trump-gamed-tax-system


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