A story published by The New York Times this weekend revealed that GOP presidential candidate Donald Trump declared nearly $1 billion in capital losses in 1995, and that this loss may have been carried over to avoid paying federal taxes on future income.
Perhaps he did carry over these losses, but perhaps he did not. Nobody knew, and it did not really matter either way.
Why? Because an investigation by Zero Hedge has revealed that in 2015, Democrat presidential candidate Hillary Clinton did the very thing that liberals have been accusing Trump of doing.
Specifically, a review of Clinton’s tax returns, readily available on her website, showed that she declared nearly $700,000 in “long-term capital loss carryover“:
“This bombshell report reveals the colossal nature of Donald Trump’s past business failures and just how long he may have avoided paying any federal income taxes whatsoever,” he said.
Given the revelation about Clinton, it seems proper to rewrite Mook’s statement as this: “This bombshell report reveals the colossal nature of (Hillary Clinton’s) past business failures and just how long (she) may have avoided paying any federal income taxes whatsoever.”
I agree. To be fair, there was nothing wrong with what Trump may have done, and with what Clinton most definitely did. It is commonplace for business owners to use past losses to offset their future taxes.
The problem instead lay with both the liberal media and the Clinton campaign’s attempts to exploit Trump’s possible use of tax laws to smear him as a tax cheat.
Going by their own logic, it appears now that the true cheat is and has always been Hillary Rodham Clinton.
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Will this get the media attention that Trump’s tax story got? Scroll down to comment below!