Published: Mon, October 03, 2016
Economy | By Melissa Porter

Rudy Giuliani: If Trump avoided paying taxes, then he's a 'genius'

Donald Trump responded on Sunday morning to a New York Times report that he may not have paid federal income tax for 18 years, tweeting: "I know our complex tax laws better than anyone who has ever run for president and am the only one who can fix them".

Some details of Trump's tax history had surfaced before in documents from state gaming regulators and court cases.

Still, some Trump supporters remained phalanx around their nominee.

On the same news show, Trump adviser Rudy Giuliani said the Republican candidate is a "genius" if he avoided federal income taxes and noted that poor people can take advantage of the same tax "loophole".

Donald Trump may or may not have paid federal income taxes for years after losing almost $916 million.

The former NY mayor told ABC's "This Week" that Trump was a "genius" for maneuvering around tax laws, unlike Clinton who was investigated by the Federal Bureau of Investigation for using a private email server. The city fought with Trump for several years after he appealed his city tax bill.

"There's no one who has shown more genius in their way to maneuver about the tax code as he rightfully used the laws to do that", Christie said on "Fox News Sunday".

The newspaper reported that Trump made only $6,108 in wages, salaries and tips in 1995.

They revealed the presidential candidate declared almost a $916 million loss on his 1995 income tax returns.

The New York Times received documents that showed Trump could have avoided paying $50 million a year in income taxes for almost two decades. The documents were anonymously mailed to one of the newspaper's reporters.

The Times said it showed the documents to an attorney who has handled Trump's taxes for three decades, Jack Mitnick. Those numbers are slightly misaligned on the documents.

The tax story capped a rough week for Trump that began with his poorly reviewed debate performance against Clinton on Monday and included a days-long spat over his comments about the weight of a former Miss Universe.

The campaign said Mr Trump had paid "hundreds of millions" of dollars in other kinds of taxes over the years.

When she speculated that Trump hadn't paid federal income tax in years, Trump replied, "That makes me smart".

Trump has refused to release his tax returns. The government doesn't pay net refunds when business owners lose money, but it lets taxpayers use those losses to smooth their tax payments as they make money. IRS Commissioner John Koskinen told a House committee September 21 that people under IRS audit are free to release their returns or IRS letters informing a person they're being audited.

Mr Trump's campaign did not directly address the authenticity of the excerpts from his tax filings. Clinton has released almost 40 years of her tax returns. Trump, regardless of whether he wins or loses, will likely pursue the matter through the civil courts.

The U.S. taxes income, not wealth, and savvy taxpayers often try to avoid reporting much of the former while generating the latter. However, Trump has not denied that the information found in the returns is true.

The mounting defense of Trump came just hours after The New York Times reported on three pages of what appeared to be Trump's returns from 1995.

Here's what Mook says: "We talk about the rigged system out there".

Giuliani argued that Trump could have faced legal trouble for paying more than necessary in taxes. "Donald Trump embodies that". The Post has also reported that the foundation solicited donations from the public without the required certification under NY state law.

Central to Trump's candidacy has been the idea of him as a successful businessman.

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