Trump tax report: Why you should care

Democratic and GOP voters respond to Donald Trump's tax returns.

ST. PETERSBURG — A campaign bombshell from The New York Times has people talking all over social media.

In a new report, the Times says Donald Trump might have avoided paying nearly 20 years' worth of income tax.

This story definitely got your attention!

10News WTSP reporter Mark Rivera hosted a Facebook Live session about Trump's taxes, and in just half an hour we had more than 300 comments.

The New York Times reported Donald Trump posted a nearly $916 million loss on his taxes in 1995.

The Times says it was because of mismanaging casinos in Atlantic City, N.J., buying the Plaza Hotel in New York when he shouldn't have, and trying to start an airline.

The Times added it's possible Trump hasn't paid a dime in income tax since.

So how could this be legal?

Federal tax codes allow you to carry capital debts forward for more than 10 years and backward for two to three. So it's technically possible.

But that's not stopping you from joining the debate, as evidenced by the Facebook Live session.

Shawn said all hotels and casinos in Atlantic City have lost money -- and $900 million is a small loss when you consider it was all of Trump's businesses combined.

Jim said that's not criminal for god sakes, and he'd have done the same damn thing! 

But we caught up with one man who joined the conversation online, and met him in person -- Tommy Frain says we need to elect someone to reform the tax system. 

“Overall I understand why he did it is a businessman. As long as the loopholes are there they're going to take advantage of them. But that being said, when he gets into office, I don't think he's going to do anything about those loopholes,” Frain said.

Only on 10News, Hillary Clinton campaign manager Robby Mook spoke to Rivera and went after Trump.

“When he fails at his business, that means he doesn't have to pay taxes for almost 20 years. He calls that smart. So my question to him is, what does that make the rest of us?” Mood said.

Trump responded to the Times story: “I know our complex tax laws better than anyone who has ever run for President and am the only one who can fix them.”


To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment