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03 October 2016 - Trump may have avoided taxes for 18 years

Publié par Marion Coste le 10/03/2016

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Donald Trump and His Allies Struggle to Move Past Tax Revelation
Maggie Haberman and Nicholas Fandos (The New York Times, 02/10/2016)
Donald J. Trump and his allies struggled on Sunday to move beyond the revelation that he might have been able to legally avoid nearly two decades of federal income taxation, putting new pressure on the candidate just as he tries to recover from a lackluster debate performance.
Mr. Trump’s campaign lurched between refusing to acknowledge that the 1995 tax records, portions of which were published on Saturday night by The New York Times, were bona fide, to insisting that his not having paid taxes was evidence of his unrivaled business prowess.
The Times report, based on documents obtained by the newspaper, showed that Mr. Trump, the Republican nominee, declared a $916 million loss on his 1995 income tax returns, which could have allowed him to legally avoid paying any federal income taxes for up to 18 years.

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New York Times revelation

Who gave Trump’s taxes to the New York Times? The mystery behind a bombshell story.
Paul Farhi (The Washington Post, 02/10/2016)
When New York Times reporter Susanne Craig checked her office mailbox a few days ago, a thin Manila envelope immediately caught her eye. She almost gasped when she opened it.
“I thought it was a hoax,” she said Sunday. “My reaction was, ‘No way this is real.’?”
The typed return address read “The Trump Organization.” Inside were three photocopied pages Craig realized could be dynamite: They appeared to be from Donald Trump’s 1995 tax returns.

$916 million loss

How Trump could avoid taxes for 18 years
Richard Wolf (USA Today, 02/10/2016)
Donald Trump may have President Reagan and Congress to thank for shielding real estate from the crackdown on tax shelters 30 years ago.
Trump's $916 million net operating loss that the New York Times identified on his 1995 taxes — a loss that could have enabled him to avoid paying federal income taxes for 18 years — might have stemmed from poor business practices. For that, he would have only himself to blame.
But in claiming and then recouping that loss through the tax code, experts said, Trump took advantage of the way real estate can be depreciated and interest deducted, even as the value of holdings increases. In that way, future net income can be reduced — in Trump's case, for many years.
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"That makes me smart"

Is Donald Trump a "Genius" Tax Avoider?
John Cassidy (The New Yorker, 02/10/2016)
The current incarnation of Rudy Giuliani lacks many qualities associated with him when he was mayor of New York City: moderation, tolerance, and an eagerness to cross party lines. But as he showed Sunday morning on “Meet the Press,” where he appeared in his role as a Donald Trump surrogate, he can’t be accused of lacking chutzpah, or what the Brits call a brass neck.
“The reality is, he’s a genius,” Giuliani said when the show’s host, Chuck Todd, asked him about the New York Times’s revelation that Trump, back in 1995, reported more than nine hundred million dollars in losses on his tax returns, which might well have shielded him from federal income taxes for years. “He did something we admire in America: he came back.” Far from being regarded as a tax avoider, Giuliani insisted, Trump was to be compared to Steve Jobs and Winston Churchill, both of whom suffered setbacks only to return in triumph. “Great men have big failures and then they take those failures, and they turn them into great results,” he said.
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"03 October 2016 - Trump may have avoided taxes for 18 years", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), mars 2016. Consulté le 25/05/2024. URL: https://cle.ens-lyon.fr/anglais/key-story/archives-revue-de-presse-2016/03-october-2016-trump-may-have-avoided-taxes-for-18-years