During a post-vice presidential debate interview, Donald Trump’s son, Eric Trump, had to answer some difficult questions about his father’s long-term affair with the U.S. tax code. Trump Jr. said his family pays a “tremendous amount of taxes,” and confirmed the presidential candidate “absolutely” paid his federal income taxes.
But critics were not content with the younger Trump’s statements. They noted that Trump Jr. might have taken into account only the taxes paid by the Trump Organization when he gave the answers.
CNN’s Dana Bash, who interviewed the candidate’s son, wanted to know whether Donald Trump paid or not federal income taxes over the last 18 years. The question stems from a recent scandal spurred by a New York Times report.
The Times found that in 1995 Trump reported a staggering $916 million in operating losses. Tax code experts believe the Republican presidential nominee’s move was designed to exempt him from paying taxes for 18 years to come.
In 1995, $916 million represented nearly 2 percent of all net operating losses in America, Times editors noted. So, experts think the whopping loss might have shielded Trump’s business and smoothed the path to his career.
On Monday, the candidate acknowledged he had put the U.S. tax laws to use into his advantage. During a campaign rally in Colorado, he explained he had to do it only to clear “the real estate mess” he was in. According to Trump, the early ‘90s were a dark period for real estate developers. He said business was nearly as bad as the 1929 Great Depression, and a lot worse than the 2008 Great Recession.
On Monday, he stated that few businessmen were able to bounce back the way he did.
“Honestly, I have brilliantly used those laws,”
said elder Trump about the U.S. tax laws.
But he also entered damage control mode by promising he would use his tax acumen to help average Americans pay lower taxes. He insisted that what he did was perfectly legal under the U.S. tax laws.
On Wednesday, the billionaire’s son confirmed Trump pays his federal income taxes, when Bash brought up the issue.
“My father pays a tremendous amount of tax — we as a company pay a tremendous amount of tax,”
Trump Jr replied to Bash’s question on whether his father paid any federal income taxes over the last 18 years.
Eric on the Tax Record Disclosure
The younger Trump also underlined the fact that his father’s company has paid its taxes while it employed “tens and tens and tens of thousands of people.” Eric provided this detail to emphasize the fact that Trump has created thousands of jobs in America.
The presidential nominee has recently slammed his Democratic rival Hillary Clinton for not creating a single real job during her career. Trump noted the only jobs Clinton has created were at the FBI and DOJ. What’s more the Democratic candidate has “lived off the government” her entire lifetime, according to Trump.
Bash also wanted to know whether Trump would ever release his tax records, a controversial matter for his campaign. Trump Jr. replied the candidate would make documents public as soon as the audit was over.
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