Trump Responds To Federal Tax Bombshell

The Hill recaps:

Donald Trump early Sunday said he knows tax laws “better than anyone who has ever run for president” following a report that he could have legally avoided paying taxes for years. The Republican presidential nominee tweeted that he is “the only one who can fix” U.S. tax laws.

The New York Times reported late Saturday that a $916 million loss on Trump’s 1995 income tax returns could have allowed him to legally avoid paying any federal income tax for up to 18 years. At the first presidential debate last Monday, Democratic nominee Hillary Clinton accused him of not paying federal income taxes. “That makes me smart,” he replied.

Clinton’s campaign manager, Robby Mook, pounced on the newspaper’s report, saying it “reveals the colossal nature of Donald Trump’s past business failures and just how long he may have avoided paying any federal income taxes whatsoever.”

  • Slippy_World
  • Sashineb

    Yeah and how many of his employees did he NOT pay?? Of course he will fix the tax laws — after he’s taken advantage of them for so long.

    • kareemachan

      With all that saved money from no taxes, you’d think he could have paid *some* of them….

  • Giant Monster Gamera

    He’s all but admitted that the NYT story is accurate.

    • DaddyRay

      He is probably thrilled that it wasn’t a more recent tax return that showed income from foreign governments

    • TSS

      I still don’t understand the whole “but they obtained it illegally!” squealing from Trump surrogates. My understanding is that copies of the first page of the returns were sent to the NYT offices. How is that illegal?

      • popebuck1

        It’s not. Whoever initially procured the documents might have obtained them illegally, but the Times can’t be prosecuted for merely receiving them.

  • TexasBoy

    So Trump is going to plug the loopholes that allow him not to pay taxes? Uh huh. Yep. Sure.

    • Ross

      My thoughts, exactly.

    • kareemachan

      Well, he says he will, but like everything else, I’ve heard zilch in the way of concrete plans or ideas.

      But I’m sure they’d be YUUUUUGE!

    • TSS

      Right. Someone who pays no taxes under questionable circumstances claiming to provide a fair tax code when president? There are suckers born every day, I guess.

      • Jeffg166

        I think Bell Star said every minute.

      • cleos_mom

        And Republican Presidents over the past 48 years have proved that.

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    • zhera

      Fix = make them bigger. Yoooge!

    • olandp

      It depends on what your definition of “fix” is.

    • Todd20036

      If trump truly thought people would be impressed with his tax returns in any way, he’d have released them long ago

    • Todd20036

      Not O/T: Polls plus puts a Clinton win at 65-35%. This is a big improvement over her pre-debate numbers.

  • meh. the rich never pay taxes. i’m sure most people here understand just how true that is. he stole, he ripped people off, he lied… he’s just another rich person, that’s what they do.

    i’m more worried that he is literally insane. a lot of the shit coming from his camp these last few weeks makes me srsly wonder just how off the charts he is. it’s one thing to be a tax cheat (hey, i’ve been married to one). it’s another thing to honestly believe it is your destiny to start WWIII. that’s what bothers me about him. he’s deluded, older than he thinks he is, and totally unconcerned about people who aren’t in his world.

    • Bj Lincoln

      There is something going on. His behavior is erratic, he doesn’t sleep, he is repetitive with a limited vocabulary, lies about everything and tries to hide the fact he doesn’t know/understand the subject plus is quick to temper. These are behaviors we have seen almost every day for a year! I have had children with behavior disorders behave like this. It makes learning difficult. If I were a shrink, I would have him on meds for adult ADHD to start and weekly counseling. This is just from years working with kids with every kind of mental and physical disorders. and personal counseling.

      • cleos_mom
        • zhera

          Holy crap, the man is insane!

          I swear, this is the worst nightmare I’ve ever had. And I’ve had some pretty freaky and scary ones! Somebody please wake me up!

          • JCF

            If in his next appearance Drumpf starts talking about his “Precious Bodily Fluids”, I really wouldn’t be surprised…

          • JCF

            After his infamous mocking of the disabled reporter last spring, here he is (yesterday) mocking Hillary’s fainting spell (due to pneumonia). You just CANNOT make this SHIT up!

            https://www.youtube.com/watch?v=oAI8pDY7K_w

      • Ray Taylor
      • Marides48

        Thanks for your incite.

      • Gerry Fisher

        Much of it is or is held in place by an Axis II problem, which means “imbeded in the personality” and highly unlikely to be affected by treatment. Counseling won’t help much. (When I studied for my MSW in the mid-90s, our professors said that we’d probably never see someone with Narcissistic Personality Disorder, because they don’t think they have a problem, so why should they go to counseling? They said that we’d most often see the spouses and children of the narcissists.)

        Another Personality Disorder that’s in the same cluster as narcissist is Antisocial Personality Disorder. I see elements of that one in Trump, as well. There’s a reason why those disorders are grouped together. (Borderline and Histrionic are the other two.)

        • Skeptical_Inquirer

          I remember reading counseling would make things worse in that they’d then try to game THAT system.

      • ShawnSwagger

        Yep. I think his grandiose, narcissistic personality is something permanent he’s always had. But all the rest of his behavior + the sniffles = I think Howard Dean may be right about the cocaine.

        • RoFaWh

          My guess (I may have already posted this) is that someone in his entourage handed him some coke and said, “Here, sniff this a few minutes before going on stage. It’ll make you much more energetic in attacking Crooked Hillary.”

          If he was a coke addict, he’d be sniff-sniff-sniffling all the time, but he doesn’t do that. (I think!)

          • B Snow

            Maybe he does sniff all the time and we haven’t heard it before because so many of his speeches have been given to cheering crowds, so he sniffs during the cheering.

      • B Snow

        I was thinking ADHD too. Or a coke habit. It’s not normal to be so twitchy and unable to shut up for five seconds at a time.

    • RoFaWh

      Older and very likely much less healthy.

  • Lane

    Wait, so when he says he wants to “fix” our tax laws, does he mean it in the sense of “rigging a sporting event”? Because that’s what it feels like.

    • David Walker

      He keeps saying that this thing is rigged or that thing is rigged or that the elections are going to be rigged. He keeps neglecting to mention that they are being rigged in his favor. Because, after all, he has the best people. And the best rope for rigging. And if you give a man enough rope…..

  • Joe in PA

    Huh, so he knows so much about tax laws…maybe he should concentrate on BUSINESS, maybe he wouldn’t lose close to a BILLION dollars in one year. Ugh.

    • PickyPecker
    • William

      If he actually earned money, he would have to pay taxes!

      • Joe in PA

        can’t have that! 🙂

    • TexasBoy

      I wonder, is the billion dollars all actual business losses, or is part of it standard business accounting like depreciation, interest charges,insurance write-offs and so forth? Truthfully, over the last two years, I’ve invested in some small rental properties, and was amazed at the amount of applicable deductions. Not defending Trump at all, but did anyone honestly expect him to pay taxes?

      • Joe in PA

        Great point. Back in the 80s there was something called “accelerated depreciation”. You could fully depreciate rental property in 10 years (I THINK 10 years). Whohoo. All changed now, but ahhhh, good times. 🙂

      • TSS

        Well, I never expected him to run for president, but that ship has sailed.

        It sounds like from what I’ve been reading/hearing that little is known about the particulars. Not knowing a whole lot about taxation, I still wonder about the sheer magnitude of his loss. Deductions are one thing, but the returns show an income loss. His campaign is not framing it as a temporary loss due to investment or anything like that, so I think he really just bombed in Atlantic City, cut his losses, and left. Whether he lost as much as he says he did to qualify for a tax free 18 years is another question. But, I could be wrong.

  • Carl

    Yeah, only you can “fix it” this good, Donald. I can buy that.

  • Ross

    SCENE: Trump is in court, after suing the NYT.

    TRUMP: But they illegally obtained my tax returns!

    JUDGE: But…didn’t you advocate that the Russians illegally obtain Hillary’s emails?

    TRUMP: Ah, well…

    JUDGE: Case dismissed!

    • William

      The foot’s on the other hand now.

      • Bad Tom

        Makes it even tastier when inserted into the mouth.

    • RoFaWh

      The legal principal in that fictional scenario is estoppel. It dictates that you cannot argue X in one legal proceeding, then turn around and argue not-X in another because it happens to be advantageous to do so.

      Argue X in one proceeding and you have to argue (or accept) that in others you are involved in.

      IANAL

  • Cackalaquiano

    Imagine if every business person in the US demonstrated Donald’s business prowess. $1B losses times millions of business people. This country would be a smoldering ruin.

    • cleos_mom

      That might not be a bad thing. It could go a long way toward curing the American awe and worship of business and the insane notion that a government should be run like one.

      • Bad Tom

        The smoldering ruin part would be bad for everyone.

        • Todd20036

          Not those who invest heavily in smoldering ruin futures….

          • Bad Tom

            OK, nearly everyone.
            ——-
            If the ruins include the actual markets, then, nope, not even them.

  • I can’t wait for the next round of plain brown envelopes postmarked from the Trump tower to arrive at the NY Times. (Because you know there will be.)

    • Todd20036

      Porn mags with Trump in them?

      • McSwagg

        Photos or ‘samples’?

  • Giant Monster Gamera

    Since he knows our tax laws better than anybody else, I’m looking forward to his explanation on how he’d “fix” them at the next debate.

    • DaddyRay

      And why he gets audited every year

    • OdieDenCO

      simple: anyone making 1 million or more a year, pays no taxes. anyone making less pays taxes.

  • Captain Obvious

    He responds with one highly questionable claim and one patently and cursorily untrue claim. Good luck with that Don.

  • JT

    Drumpf: I have created tens of thousands of jobs.

    And not paid a cent to all those workers.

    • DaddyRay

      Bingo

  • Richard, another Canuck

    Yea he can fix the tax system, and the fix would be in for Trump.

    • RoFaWh

      One might say the US would really be in a fix after Drumpfication.

  • TSS

    He claims he’s going to improve government programs and doesn’t pay his taxes. Who’s going to pay for them then? Another Trump exercise in bullshit. Yeah, I know the 1% never pay their fair share, but if you’re running for president, show good faith by contributing what you can. It’s called doing the right thing.

    • EweTaw

      Asking a GOP candidate to do the right thing? You’ll have better success jousting with windmills.

      • Bad Tom

        At least windmill jousting can get you a book.
        ——-
        We have an example for that.

    • RoFaWh

      Now under my scheme, reform starts with requiring all children in a certain age range (viz. 6-18) to attend public school. No home, private, or parochial schooling permitted.

      At the moment the 1% send their kids to private schools which undoubtedly teach them just how special they are. And why cheating on taxes is okay for them, but not for the Little People.

  • Blake Jordan

    All he has going for him is the racism, islamaphobia and sexism… anyone who votes for him cannot justifiably claim it is for business prowess, or anything else positive!!!

  • OdieDenCO

    donny not paying taxes is at best a side story here. the loss of $916 million for a self proclaimed master businessman is the proof that he is not a master businessman and it is just another lie from the donny.

    • RoFaWh

      I’m not sure you’re right.

      Drumpf may have engineered those bankruptcies as a way of stealing a lot more OPM.

  • canoebum

    I am just wondering who could have mailed such documents to the New York Times? Who would have had access and motive? Could it have been Invana, perhaps, as revenge for The Donald’s adultery with Marla Maples and the ugly divorce? They say revenge is a dish best served cold. Inquiring minds want to know.

  • Texndoc

    So, basically, “Elect me so I can stop people like me!!” And the professional-wrestling-is-real supporters he has eats it up.

    • Bj Lincoln

      ” professional-wrestling-is-real supporters “. That is FUNNY!

      • grada3784

        Just ask John Stossel.

  • Randy Left Brooklyn

    This is kinda like when the casinos hire the people who have successfully scammed the casino to prevent future casino scams. Trump learned something in Atlantic City.

    • Friday

      Except Trump’s still scamming and bribing and illegally soliciting foreign donations and…

  • JellyDonut

    down in flames

  • tcinsf

    So, he’s spent a life time jacking the system with the aid of the tax code, and the people he’s jacked should vote for him because he’s the only one truly concerned with their interests and is going to completely change once he’s elected.
    Got it.
    So the electorate is like a woman dating a serial asshole, who thinks the asshole will completely change when she marries him.
    Or the old story about the frog and the scorpion.

    • Lazycrockett

      That Boris bozo was on MSNBC talking up how smart Drumpf was by using the existing tax laws to by pass paying though got very vague bout his candidate losing over 1 billion dollars, in today’s market.

    • cleos_mom

      So the electorate is like a woman dating a serial asshole, who thinks the asshole will completely change when she marries him.

      That’s the One Great Exception delusion, which can take unlimited forms. The burglar is your son, so you just assume he’d never clean your house out.

    • Gerry Fisher

      Hillary should reference The Frog and the Scorpion.

      • grada3784

        It would go over too many heads.

  • Rebecca Gardner

    I responded to those two tweets earlier this morning.

    https://twitter.com/BikerBecca/status/782564372480598018

  • GayOldLady

    The most interesting aspect of the NYT story is how he stiffed so many people who worked for his Casino’s, who were contractors for his casino’s or were invested in his casino’s. The stockholders alone took a beating from $35+ dollars a share to 17 cents a share. Other stories earlier in the summer from WaPo, indicated that all the while his casino’s were tanking Trump was being paid huge salary and bonuses in excess of $40 million dollars. The guy is total con artist who works an angle on every deal to make sure he skates away unscathed with his pockets full of OPM (Other Peoples Money)

    • Bj Lincoln

      Nailed it hon.

      • Gerry Fisher

        Extra points for use of the H word.

    • Nic Peterson

      Which leads us to the next obvious question. How does anyone lose money on a casino? Only orange idiots can do that, I suppose.

      • popebuck1

        (1) Trump takes casino public. Collects money from investors.
        (2) Trump funnels money to himself – big personal salaries, overcharging public company for use of Trump assets, kickbacks, etc.
        (3) Public company tanks, losing $916 million on paper. Investors lose their shirts.
        (4) Trump declares bankruptcy, protecting his own assets. Takes the money and runs.
        (5) Lather, rinse, repeat.

    • TrollopeReader

      He said the other day how he loves OPM !

      • RoFaWh

        It’s worth noting how often Drumpf is his own worst enemy.

    • JCF

      I thought of Drumpf at church this morning. Celebrating the Feast of St Francis (blessing of the animals!), we heard the following:

      “Woe to him who builds his house by unrighteousness,

      and his upper rooms by injustice;

      who makes his neighbours work for nothing,

      and does not give them their wages” [Jeremiah 22:13]

  • Larry in Oklahoma

    Public knowledge is that he HAS created lots and lots of jobs but he also refused to pay way too many people for what they did. That’s not success; that’s being a con artist.

  • Ninja0980

    Trump and his supporters are whining about information being obtained illegally yet they are cheering on WikiLeaks and whatever surprise Stone claims is coming this week or afterwards.
    Fair is fair right?

  • I understand the wealthy defending him as “intelligently” gaming the system (although those kudos should go to his accountants and lawyers) but it’s the rest of his supporters that baffle me. Do people in the US hate and fear “socialism” (whatever they think that means) so much that they want the rich to have these loopholes while they live themselves live in Shitville — because of the “promise” that they too could be rich? Even though they never will, because it’s stacked against them? Even if it means not having a social safety net?

    • Bj Lincoln

      Only the uneducated and ignorant believe that shit. Yes there are plenty of them too. Trump has shown the world how bad our educational system is, that racism and hate are alive and well in big numbers plus the effects of religion on our government and people.

      • Daveed_WOW

        I’m not convinced that they are ignorant and uneducated. We are a literate society with compulsory education and a wealth of factual information available. These people are making a deliberately evil choice to support the candidate that will harm minorities. The hatred for minorities is deeper than what education can cure.

        • Bj Lincoln

          Not all of them are completely stupid but most of his supporters just barely made it thru high school, are not as informed as you think and there are plenty of people who don’t own a computer let alone know how to use them. I know lots of people like that. They don’t care about their kids education, some do not want their kids smarter than them, often very religious yet have never read the bible and take the word of their Pastor/Minister/Priest as law. They often work hard and long hours but still live below the poverty line so they aren’t taking adult classes or any enrichment programs. Yes their hatred of minorities is deep. Most of these people live in rural areas where close contact with different people is is few and far between. Nothing like city dwellers. Because if their lack of experience and knowledge of minorities, it is easy to believe rumors/BS and hate them. Trump is pure hate of anyone different form him. He has tapped into that and has sucked in 40 % of America. That is a lot of stupid scary people.

          • Bruno

            The people you described are nothing like tRump. tRump’s form of racism and sexism revolves around his narcissism and the ability to say or do anything he pleases at any given time due to his class status. He has, however, learned how to talk to these people. How to corral them to support him. He’s a fascist through and through, though an elitist one with upper class roots.

          • Daveed_WOW

            The 40% figure seems about right.

        • RoFaWh

          The very wealthy, confident in their superiority as evidenced by their wealth, don’t take learning and education seriously.

          • Daveed_WOW

            They take it seriously for themselves. Trump and his children are educated. All the people who complain about elitists have elite educations.

    • TSS

      It’s more that people look to someone strong (real or or perceived) in times of economic anxiety (real or perceived) and government inaction and misrule. That’s what breeds fascism.

      It’s a little astonishing that Arnold Schwarzenegger was able to become governor of California, but people couldn’t see how the state government was working for them. Sacramento was looking ineffectual. Now it’s on the national level.

    • Platos_Redhaired_Stepchild

      Poor people who vote for Trump and Republicans are “Temporarily Embarrassed Millionaires.”

      http://www.temporarilyembarrassedmillionaires.org/

      • TampaDink

        Love it!

      • McSwagg

        That must have something to do with the new Apple product I’ve heard rumors about, the iTEM. It’s anticipated to sell bigly and make everyone a ‘Apple genius’.

  • bkmn

    If he knows the tax laws so well why is his charitable foundation treated like a slush fund?

    • lymis

      Knowing the tax laws and following the tax laws are two radically different concepts.

      • Talisman

        He has to know which ones to abuse.

  • j.martindale

    Yeah, he created jobs, and then didn’t pay the people for their work.

  • Hank

    He makes Mitt Romney look like a “Saint”, when it comes to business and paying Federal Taxes!!! /s

    • Gil

      And I’m quite sure Rmoney knows as much about theTax Code as Trump…

      • Bad Tom

        Certainly Rmoney’s tax accountants do.

  • Gil

    Jerks like Trump and his minions under and over report amounts and invest the money they ‘save’ until they get audited and bargain with the auditors.. Pay the back taxes and penalties, which end up being less than what would have been due on a straight return… IRS should have VERY heavy penalties for these people who abuse the system year after year…

  • Johnny Wyeknot

    I guess his tax attorneys are smarter than mine. I only got eight years tax free the last time I lost $1 Billion.

  • Paula

    Again with the “I am the only one that can fix them”? He is very proud of himself, isn’t he?

  • Daveed_WOW

    Trump and his followers are not stupid or ignorant. They are deliberately evil. They have chosen consciously to rationalize their hatred of women and minorities. They LIKE Trump for gaming the system, not paying poor people their wages, disrespecting non-whites and Mexicans and his open aggression toward anyone who can prove that he is wrong. It is dysfunctional to be sure, but it does not come from stupidity. We are a literate culture with compulsory education. Quality information about nearly every subject is easily available. Stupidity CANNOT explain their choices. They see in him the perfect reflection of their evil: petulant, violent, and narcissistic.

    • RoFaWh

      IMO they are both deliberately evil and stupid and ignorant.

  • sword

    That’s why Donald will fill his cabinet with crooks: “who better to catch crooks in the government than even bigger crooks”. Trump has already printed up shares in the Brooklyn Bridge…want to buy a piece?

  • Brianna Amoré

    “Hi I’m the guy who broke into your house and stole all your artwork and fine china. Hire me to install your next security system because I know security, trust me!”

    • TrollopeReader

      the government actually used to (and may still) hire hackers …because they *did* know the ins and outs ….

    • McSwagg

      Retailers hire convicted high end shoplifters as ‘security consultants’ on how to make product displays more secure.

  • Jean-Marc in Canada

    I’m thinking he’s decided to switch to meth….clearly the coke wasn’t doing the job.

  • Ginger Snap

    So by “fix” I guess what he is saying that they will be fixed to help him and the rich pay even less taxes.

  • M Jackson

    I ‘know’ the tax laws, I just don’t ‘obey’ the tax laws.

    • RoFaWh

      At least having made that pronouncement, he cannot plead “ignorance of the law” when they try him for tax evasion.

  • Mark_in_MN

    Another of his grandiose pronouncements about how only he, and no one else, could possibly fix something. (Never mind that his “fix” is probably going to make things much, much worse. But it’s hard to tell, he just talks in vague pronouncements about how he and only he can fix it.) No one has ever even more superior than Donald Trump, in the mind of Donald Trump.

    Ugh!!!

    Just let me off this planet! (I think my only hope is that he gets defeated in a little over five weeks.)

  • Missing from that bleating yawp from Donald and his campaign?

    Any concrete proof whatsoever that he’d paid a single dime in federal income taxes since 1977.

    He’s not denying anything.

  • Platos_Redhaired_Stepchild
    • TrollopeReader

      Barron *never* smiles.

  • bob

    Who didn’t see that coming ?

  • Thorn Spike

    “I have created tens of thousands of jobs. Most of them overseas.”

    –Donzi Scheme.

  • rednekokie

    If Trump really thinks he’s going to do anything at all about taxes without the congress, he is more delirious and stupid than he has proven himself to be already.

  • James

    “I know tax laws better than anyone who has ever run for president”

    Oh he does not. Like he prepares his own taxes. All he knows how to do is find people to work with who are as lacking in morals as he is.

    • RoFaWh

      Drumpf seems to have a rather active fantasy life.

  • JustSayin’

    I habe not read the comments below this but what u want to say is to every damn dem, liberal and progressive that is bitching about this tax bombshell. VOTE IN THE FUCKING MID-TERM ELECTIONS! THEY ARE EVERY GODDAMN TWO YEARS AFTER THE PRESIDENTIAL ELECTION!

    When will it sink in that NOTHING shy of being hospitalized is more important than Voting for our city, state, and Federal representatives!

  • Tom Ato

    rRump appeared in Manheim, PA (Lancaster County, in the middle of some cornfields at a sports complex) Saturday evening. He kept his sheeple waiting over two hours from the time he was scheduled to speak. We live nearby. The local media reported that the delay was due to weather (light rain, nothing major) and that his copter couldn’t land.

    Yeah, sure – this was right as the shit hit fan with the NYT report about the tax returns. Gotta think the spin doctors were dealing with this.

    Or maybe he mis-timed his meds.

  • Robert Conner

    Leona Helmsley: “We don’t pay taxes. Only the little people pay taxes.”

    Started her stint in prison on April 15th.

  • DoctorDJ

    tRUmp is playing the ‘Murcan people for chumps. Gawd, how can any working person support this charlatan?

  • JCF

    Am having this (bitter) thought: I owe over $100K on my student loans and, to the deplorables, that makes ME a “deadbeat libtard taker”. But Drumpf can owe a THOUSAND times that much, and HE’s still a “great businessman”!

    • McSwagg

      Your ‘crime’ is that you didn’t go BIGLY enough.

      Snark aside, I hope your prospects improve soon.

  • Reginaaharper1

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    On tuesday I got a great new Land Rover Range Rover from having earned $8752 this last four weeks.. Its the most-financialy rewarding I’ve had.. It sounds unbelievable but you wont forgive yourself if you don’t check it
    !ch289f:
    ➽➽
    ➽➽;➽➽ http://GoogleFinancialJobsCash579HomeWellGetPay$97Hour ★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★::::::!ch289f:….,…….

  • ZRAinSWVA

    See, here’s the thing: taxes are needed to support our schools, roads and infrastructure, our police, fire and rescue services, the armed forces, and to finance state and federal government agencies providing services. In this way, taxes represent a social contract, one in which we all contribute to the greater good. Trump supports none of these things if he’s not paying taxes, and he thinks that’s good?