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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: gronieel2 who wrote (969356)	10/2/2016 10:46:05 PM
From: zax	Read Replies (2) \| Respond to of 1574595

According to the New York Times, Donald Trump declared a $916 million loss on his 1995 tax returns — which could have allowed him to legally avoid paying any federal income taxes for 18 years. The loss stemmed from Trump’s investments in the early 1990s. Ordinary investors in Trump’s business empire saw the value of their shares plunge to 17 cents from $35.50, bondholders got pennies on the dollar, and scores of contractors went unpaid. But Trump got a bonanza because the tax code allows “net operating losses” to cancel out taxable income in future years. And the bankruptcy code allows wealthy people to stiff the people they owe by reorganizing their debts under Chapter 11. ... Trump isn’t and was never a smart businessman. He was and is smart at gaming the system. There’s a difference. huffingtonpost.com