On October 1, 2016, the New York Times was able to publish portions of Donald Trump’s 1995 income tax returns. With it came rumblings from Trump’s cronies and supporters, with many people thinking that the New York Times broke the law by publishing their findings.
On Sunday, Washington Post writer, Callum Borcher, mentioned that the New York Times violated the law and the First Amendment. Borcher claims the news organization risked punishment and legal ramifications.
Umm… Nope
The New York Times did not break any laws as WaPo claims, and the First Amendment actually protects New York Times from any punishment. In his poorly researched scribble, Borcher alleges that the New York Times violated a federal statute that warrants punishment for any publication that distributes any tax return information that isn’t authorized by law.
But Borcher seems to be unaware of a piece of information in this stature – it only applies to documents that are directly submitted to the federal government.
The New York Times is not, and does not represent the federal government. The New York Times simply re-posted tax return information.
What Does Trump’s Taxes Say About Him?
It is been reported that Trump declared a $916 million loss on his 1995 income tax returns, with a tax deduction so large that it could’ve enabled him to legally avoid paying taxes for up to 18 years.
It’s revealed that the large tax breaks given to Trump stem from his poor financial and business decisions in the 1990s via three Atlantic City casinos. By reporting his $916 million loss, he was able to cancel out an equivalent amount of taxable income expanding over 18 years.
When the numbers are crunched, he was able to enjoy a reduction of $50 million a year in taxable income over the span of 18 years.
The ramifications of this story have not come to fruition, but with his supporters excusing his shortcomings and having a steadfast dedication to ignorance, the report of him gaming the tax codes may not adversely affect the support he has garnered as the Republican nominee racing to the White House.
The damages could take a while to play out, but here are the facts: a poll by Monmouth University showed that 62 percent of those surveyed say that it was very important that a candidate shows their tax records.
However, Conservatives tend to have a disdain towards the Internal Revenue Service, with lower taxes being one of the long-standing mantras supported by that side of the political spectrum.
So it’s very normal for Conservatives and their supporters to even celebrate the fact that Donald Trump manipulated tax codes in his favor – as expected.
Watch this video for more information how Trump may have dodged $918 million in taxes – and how you, the average American, have paid for it:
Featured Image: Screenshot Via YouTube Video.
