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Trump's tax returns aren't out of the ordinary

Taxes,Trump Tax Returns,2020 Election,Banking And Finance,Donald Trump

From the Right
Opinion

The New York Times really needs to get its complaint straight. Apparently, President Trump is a no-good businessman who never makes any money, and so he aggressively avoids tax payments, paying just $750 in income taxes in 2016 and 2017 (if the report is true, which Trump has unsurprisingly called "fake news"). No doubt, he has to be aggressive to ensure he doesn't pay taxes on money he hasn't made. Or maybe it's all just another reason to stand in Midtown Manhattan shrieking about Trump.

Because there's nothing in Trump's tax information that would frighten a tax accountant — just take a quick look at the New York Times's own accounts. They save up losses ($500 million in 2006! $70 million in 2008!) which they then put against future profits — as every company and business has the right to do, and every reasonable, sensible, tax system allows. They take depreciation on buildings, $8 million a quarter on their new one apparently. They pay consultants, as consultants tend not to do the work if they think they won't be paid. There's simply nothing at all in Trump's taxes that is even odd or out of line.

There are two logical problems to what is being said against Trump, though. Trump can't be both making no money and also illegally dodging taxes. That just can't happen — if you're not making money, then you don't owe taxes, that should be simple enough to understand. Or, the other way around: You cannot be illegally dodging taxes that aren't owed. So, people complaining need to make a decision about what it is they're going to complain about.

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