Earlier this week, the New York Times published an extensive study of President Trump’s tax returns from 1985 to 1994, finding that “year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer,” and that in eight of those 10 years, he paid no federal income taxes whatsoever.
Trump, reacting to the puncturing of his carefully cultivated image as a master of the deal, gave an explanation that was at once pathetic and also not entirely unrealistic: that he was simply manipulating his finances to exploit obscene tax loopholes — to which he was apparently “entitled” — for wealthy real-estate developers.
The above excerpt was originally published in New York Daily News.
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