Republican nominee facing questions
Donald Trump’s business losses in 1995 were so large that they could have allowed him to avoid paying federal income taxes for as many as 18 years, according to records obtained by The New York Times.
In a story published online, the Times said it anonymously received the first pages of Trump’s 1995 state income tax filings in New York, New Jersey and Connecticut.
The filings show a net loss of $915,729,293 in federal taxable income for the year.
That Trump was losing money during the early to mid-1990s – a period marked by bankruptcies and poor business decisions – was already well established. But the records obtained by the Times show losses of such a magnitude that they potentially allowed Trump to avoid paying taxes for years, possibly until the end of the last decade.
Trump’s campaign later released a statement lashing out at the Times for publishing the records and accused the news- paper of working to benefit the Republican nominee’s presidential rival, Democrat Hillary Clinton. “The New York Times, like establishment media in general, is an extension of the Clinton campaign, the Democratic Party and their global special interests,” the campaign said, calling Trump “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 added that Trump had paid “hundreds of millions” of dollars in other kinds of taxes over the years. Clinton’s campaign manager, Robby Mook, used the Times story to needle Trump. Mook said Trump apparently avoided paying taxes for two decades “while tens of millions of working families paid theirs. He calls that ‘smart’”. Mook said: “Now the gig is up, why doesn’t he go ahead and release his returns to show us all how ‘smart’ he really is?”
Visitors check out a DIY pedal-powered wooden car at the 2016 Berlin Maker Faire in Berlin, Germany. The Maker Faire combines a trade fair with hands-on opportunities and workshops for both children and adults to explore a wide realm of new technologies and do-it-yourself projects.
UNDER FIRE: Trump