How Trump got a personal tax break by defaulting on loans - InvestingChannel

How Trump got a personal tax break by defaulting on loans



Now we know, from what Donald Trump said at last night’s debate, that he avoided paying federal income taxes for years.. his assertion that Hillary Clinton supporters Warren Buffett and George Soros did the same thing is almost certainly untrue; and what this tells us about Trump’s leadership.

Trump talks about closing loopholes. However, there’s no need to close the Gitlitz loophole, because Congress closed it 14 years ago. And Trump isn’t proposing to close the loophole, opened in 1993 — ironically, during Bill Clinton’s presidency — that he helped push through Congress, and seems to be using now.

The bottom line: If Trump really wanted to lead our country in the right direction, he would have released his tax returns, disclosed the loopholes he used, said he would stop using them and proposed to close them. But he hasn’t done that, and he shows no sign of doing it…