Last updated on July 17th, 2023 at 09:16 pm
An October surprise leak of Donald Trump’s 1995 tax return has dealt a devastating blow to the Republican nominee’s campaign by suggesting that Trump may have paid no personal income taxes for 18 years.
The New York Times reported:
Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.
The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.
Trump is Mitt Romney on steroids. Here is a man who made sure that he directly benefited from bankrupting his companies while inflicting economic misery on anyone in his path. Everyone from contractors to casino employees was devastated, while Donald Trump gained.
The narrative about Trump in the 2016 election is that he is a candidate who is only interested in looking out for himself. His 1995 tax return is black and white proof that Trump only cares about Trump. Voters are now a step closer to knowing what Donald Trump has been hiding by refusing to release his tax returns.
The big secret that Trump doesn’t want the American people to know is that he is a billionaire who pays no income taxes. The Republicans have nominated a man for president who is living embodiment of the sort of billionaire who gets all of the benefits from the US’s rigged tax system that Democrats have been fighting to make pay their fair share for years.
Trump has been courting rural white working class Americans in his campaign while hiding the fact that he is a prime example of the reason why their taxes are so high, and economic existence has become more difficult.
The tax return doesn’t show a populist billionaire, but a billionaire who doesn’t pay his fair share.
One tax return has destroyed the myth of Donald Trump, and in the process dealt a devastating blow to his presidential campaign.
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