The New York Times have somehow obtained the much- talked about Republican nominee Donald Trump’s tax returns from 1995, which show the billionaire declared a shocking $916 million loss, a tax deduction so substantial, he managed to avoid paying any federal income taxes. How? Under tax incentives set down by the federal government to encourage investment and minimize losses to big businesses, companies are allowed to deduct losses from their taxes, therefore Trump paid no taxes in that year, but that’s not nearly enough. The stunning amount of money Trump has lost means that he was able to legally pay no taxes for the next eighteen years!!!
The $916 million loss certainly could have eliminated any federal income taxes Mr. Trump otherwise would have owed on the $50,000 to $100,000 he was paid for each episode of “The Apprentice,” or the roughly $45 million he was paid between 1995 and 2009 when he was chairman or chief executive of the publicly traded company he created to assume ownership of his troubled Atlantic City casinos.