Donald Trump has come under serious scrutiny this week after a portion of his New York tax return from 1995 was released, showing a massive loss of nearly a billion dollars that could mean that Trump hasn’t paid anything in federal income tax in two decades.
Until Tuesday, just hours before the Vice-Presidential debate, Trump made no excuses for his manipulation of tax codes nor did he deny that he paid no taxes. In fact, between his statement at his own debate that not paying taxes makes him “smart” and his campaign manager claiming he’s paid hundreds of millions in payroll taxes for his employees when asked about how much he’s paid, it looks more and more like Trump has, in fact, paid nothing in income taxes on the billions of dollars he’s made.
Now we know why. It’s all Hillary Clinton’s fault. And George Soros. And Warren Buffet. At a rally Tuesday, Politicus USA reports that Trump said the following:
That’s right. Hillary Clinton didn’t change laws that allowed for tax loopholes, therefore Trump is justified in using what certainly have to be shady tax shelters to hide more money than he was worth at the time, assuring he wouldn’t need to pay taxes for 20 years as long as he didn’t mind perpetual audits.
Is what he did illegal? Probably not. But when you consider that all accounts have him worth somewhere between $500 million and $1.5 billion at the time, it’s highly unlikely he actually lost that in real assets. What’s more likely is that he used a tax shelter or that he borrowed that money to be able to show a substantial loss that would save him millions upon millions of dollars in tax payments.
The tax evasion is Hillary Clinton’s fault, but what about the loss? How can someone who claims to be so brilliant have lost a billion dollars in casinos and real estates during a time when the economy was booming? Well…That’s not his fault either, because Georgs Soros and Warren Buffet lost money, too.
With no reference as to when or how the two well-known billionaires lost such large amounts, Trump built a narrative that the uneducated, low-hanging fruit who attend his rallies could buy. Unfortunately, George Soros is worth nearly ten times what trump is and Warren Buffet nearly twenty, so losses the likes of which Trump is talking about wouldn’t be indicative of a tax shelter or massive borrowing to offset tax burden, it would be a fraction of their worth.
Trump’s real problem is and always has been that he refuses to take responsibility for his actions. From his business losses to his bankruptcies to screwing small businesses to the birther issue, Donald Trump has shown that he will do anything to avoid apologizing or explaining himself for anything.