Donald Trump Says Gaming Tax System Was 'SPORT' While He Admonishes Poor Americans For Using Welfare
DONALD TRUMP SAYS GAMING TAX SYSTEM WAS ‘SPORT’ WHILE HE ADMONISHES POOR AMERICANS FOR USING WELFARE
BY NICOLE GOODKIND at Newsweek
https://www.newsweek.com/donald-trump-tax-welfare-food-stamps-1420037?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution
"SNIP.....
“You would get it by building, or even buying. You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!”
The Times found that between 1990 and 1991, the president’s businesses lost more than $250 million each year, “more than double those of the nearest taxpayers in the I.R.S. information for those years." If the president was truly losing millions of dollars each year (and declaring bankruptcy on a number of occasions) to game the government for “sport,” he was truly blowing his competition out of the water.
In a statement to the Times, a White House official said, “The president got massive depreciation and tax shelter because of large-scale construction and subsidized developments." They added, "That is why the president has always scoffed at the tax system and said you need to change the tax laws. You can make a large income and not have to pay a large amount of taxes.”
But the president's $1.5 trillion tax plan gave the top 1 percent of Americans about 21 percent of the tax cuts. By 2027, over 80 percent of tax cuts will flow to the top 1 percent.
.....SNIP"
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