1. It shows the rubes that Trump didn’t pay any taxes, which most will assume was done nefariously…
Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years.
2. It calls in to question the persona of “Mr. Trump”, the great businessman…
The tax documents also do not shed any light on Mr. Trump’s claimed net worth of about $2 billion at that time. This is because the complex calculations of business deductions that produced a tax loss of $916 million are a separate matter from how Mr. Trump valued his assets, the tax experts said.
Nor does the $916 million loss suggest that Mr. Trump was insolvent or effectively bankrupt in 1995. The cash flow generated by his various businesses that year was more than enough to service his various debts.
A majority of Republican voters likely to cast ballots in November want to see Donald Trump’s tax returns, according to the results of the latest nationalQuinnipiac University survey, out Thursday.
Among all likely voters surveyed, 74 percent said the businessman should release his tax returns, while 21 percent said they do not think he should. More than six in 10 Republican voters, 62 percent to 31 percent, said they would like to see their party’s nominee do so. The share of Republicans calling on Trump to release his returns is actually the lowest among all demographic and ideological groups, with at least two in three of all other groups expressing a desire to see them.
Oddly enough, Trump’s response is similar to the “anger” the media pretended to show over Mitt Romney’s 47% comment, they assured us that those people DO pay taxes…
Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss.
“Mr. Trump is a highly-skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required,” the statement said. “That being said, Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes.”
Is this right? No.
Should this matter? No.
This will matter. He will lost multiple percentage points on this.
This matter, anyone who says it doesn’t is lying to you.
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