WASHINGTON (AP) — The Latest on the presidential race between Republican Donald Trump and Democrat Hillary Clinton (EDT):
Rudy Giuliani, a close adviser to Donald Trump, says the Republican candidate is a “genius” if he avoided federal income taxes and noted that poor people can take advantage the same tax “loophole.”
Giuliani told NBC’s “Meet the Press” on Sunday that if Trump hadn’t used his business loses to his advantage on his taxes, he would have been sued by any business partners and shareholders.
“The reality is he’s a genius,” said Giuliani. The New York Times obtained tax documents from 1995 that showed a $916 million loss in federal taxable income, a loss large enough to allow him to avoid paying federal taxes for as many as 18 years.
When asked whether such a loophole was fair, Giuliani noted that many Americans have such low incomes that they aren’t required to pay federal income taxes either.
“A lot of the people that are poor take advantage of loopholes and pay no taxes. Those are loopholes also,” he said.
Chris Christie says a new report showing Donald Trump’s business losses in 1995 may have allowed him to avoid paying federal income taxes for years is a “very good story” for Trump.”
The New Jersey governor said on “Fox News Sunday” that the New York Times story showcases “the genius of Donald Trump” because he has said he’d follow the law, would ease tax policy on working people and knows tax policy better than anyone.
Democratic Sen. Claire McCaskill retorted Sunday that Trump’s nearly $916 million loss in one year “represents real pain to many people who never got paid.”
They were referring to a story late Saturday in which the Times said it anonymously received the first pages of Trump’s 1995 state income tax filings in New York, New Jersey and Connecticut. The filings show a net loss of $915,729,293 in federal taxable income for the year, a large enough loss to allow him to avoid paying taxes for as many as 18 years.
Bernie Sanders says a report that Donald Trump’s business losses in 1995 were so large that he could have avoided paying federal income taxes for 18 years underscores how the wealthy have manipulated the political system at the expense of the middle class.
Sanders said Sunday on CNN that middle class Americans are working longer hours for lower wages. He says billionaires don’t have that problem because they’ve got their friends on Capitol Hill.
Sanders said “That is why people are angry and want real change in this country.”
Donald Trump is tweeting about the New York Times story that alleges he lost so much money in 1995 that he would have been allowed to pay no federal income taxes for as many as 18 years.
He tweeted early Sunday: “I know our complex tax laws better than anyone who has ever run for president and am the only one who can fix them. #failing@nytimes.”
In a story published online late Saturday, the Times said it anonymously received the first pages of Trump’s 1995 state income tax filings in New York, New Jersey and Connecticut. The filings show a net loss of $915,729,293 in federal taxable income for the year, a large enough loss to allow him to avoid paying taxes for as many as 18 years.
Democratic rival Hillary Clinton’s campaign manager, Robby Mook pointed to Trump’s comments during his first debate with Clinton, in which he said that not paying federal income taxes would show he was “smart.”