Donald Trump Paid Zero Taxes For At Least Two Years
Presumptive GOP presidential nominee Donald Trump paid no federal income taxes for at least two years in the 1970s according to an official report from the New Jersey Division of Gambling Enforcement.
Donald Trump has refused to release his recent income tax returns because he’s being audited by the IRS and that his tax rate is “none of your business.”
Now we know the real reason. On the campaign trail, he’s been blasting executives for taking advantage of tax loopholes that damage the middle class. Apparently, he’s been doing that for years!
From CBS News:
The disclosure showed that the real estate mogul took advantage of a tax-code provision that allowed developers to report negative income.
He claimed that his combined income in 1978 and 1979 was negative $3.8 million, which allowed him to avoid paying taxes. The Post notes that Trump had told The New York Times a few years earlier that he was worth more than $200 million.