Baton Rouge, Louisiana
7 Day Forecast
Follow our weather team on social media

Christie says Trump a 'genius' if avoiding taxes

5 years 2 weeks 4 days ago Sunday, October 02 2016 Oct 2, 2016 October 02, 2016 2:14 PM October 02, 2016 in News
Source: Associated Press
By: ApNewsNow

WASHINGTON  - 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.

Rudy 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. 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.

More News

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
7 Days