When you pay federal taxes every year, you are helping to pay for:
- Social Security
- The Defense Of America
- Veterans Benefits
- Roads and Bridges
The New York Times is reporting today that since 1995 billionaire Donald Trump has paid ZERO in federal taxes, to help the above programs.
Nothing to our military or veterans. Nothing to health programs or to education.
How did this happen?
Donald Trump, who has not denied the report, ran up nearly a billion dollar tab he couldn’t pay.
Let that number sink in your mind for a minute.
Trump declared a loss of $916 million on his 1995 income tax returns and received a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years.
Legal? Yes. Ethical? No. Proof that the system is “rigged” in favor of the wealthy? Absolutely.
Trump’s billion dollar loss exceeded any cash losses that he would have suffered in the collapse of his casino-hotel-airline empire, which resulted in four bankruptcies. Which means at one point Donald Trump, whose only claim-to-fame in this presidential race is his superior business intellect, crashed and burned his entire empire but found tax loopholes to his benefit.
Trump’s supporters have spent today calling him a “genius” for being nearly a billion dollars in debt and finding a way to skip out paying a tax bill for two decades.
Two decades where most middle class families were helping fund our military and veterans after the 9/11 attacks.
For the partisans that condemn Hillary Clinton and her connection to the Clinton Foundationt, when there is no proof Clinton ever made a dime or did anything wrong, it sure seems hypocritical to so easily dismiss the avoidance of paying a fair share for our country.
A billion dollars worth of hypocrisy to be exact.