Donald Trump has responded angrily to reports his businesses recorded more than $1bn in losses, explaining they did so to avoid paying tax.
In early morning tweets, the US president appeared to confirm much of what was detailed in an explosive report about his financial losses between 1985 and 1994, and claimed avoiding taxes among real estate developers was then considered "sport".
"Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases," Mr Trump tweeted.
"Much was non monetary. Sometimes considered 'tax shelter,' 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.
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9 comments:
It's nothing that every developer worth his salt didn't do in the same time period.
Good Grief, I DON'T care about President Trumps taxes as that's HIS business. He did Everything Legally. period!!!
I DO CARE about MY TAX DOLLARS and how they are being wasted DAILY by Crooked, godless Politicians.
I wish I lost a billion.
and it wasn't his money
Exactly correct 8:38
Whose money was it smart ass
Any way you slice it, it only exposes that he has always been a liar, interested only in himself.
I can't figure how anyone supports him.
It was the other guys money ,...the other taxpayers .
He didn't lose any of my money. Did any readers here lose money by Donald Trump's business transactions ? Just asking ...
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