Why is Trump Wrong for Using Legal Tax Deductions?

taxes

By Lars Larson

Donald Trump makes a lot of money.

It’s no surprise he pays lots of taxes…and takes lots of deductions. Now, the New York times publishes a story using illegally obtained documents that damns Trump for taking legal tax deductions.

Trump suffered a billion dollars in losses from a failed casino hotel project. The law lets you spread those losses against future tax years. The famous Jurist Learned Hand once said, “Any one may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury. There is not even a patriotic duty to increase one’s taxes.”

The Times and others think it’s outrageous that Trump chose to do that…the same kind of thing average Americans do each April when they file taxes and pay the lowest legal number they can.

Hillary Clinton bashed Trump for deducting these losses.

I think it’s worth noting that Hillary Clinton also took capital losses…700-thousand dollars just last year. Now, I can understand how a guy who builds and owns real estate can suffer capital losses. But how can the two Clintons…the unindicted rapist and the unindicted intelligence criminal…who made their living giving speeches…where do you find $700 thousand in capital losses?

Maybe she’s still bashing a lot of blackberries and computers with hammers.

But if the Clintons didn’t have double standards, they’d have no standards at all.

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