NEW YORK , Monday October 3,2016 : A Bombshell report by the New York Times revealing that Republican presidential candidate Donald Trump may not have paid federal Income Tax for up to 18 years, has raised eye brows in several quarters and may have damaged his election bid.
The Times report published yesterday made clear that Trump had broken no law, as he used the existing laws to avoid the taxes after declaring a loss of $ 916 M on his business in 1995.
Still, the revelation left his campaign reeling after a week in which he lost the first debate to Democratic rival Hillary Clinton and got into a public spat with a former Miss Universe who he allegedly humiliated after she gained weight.
The report regarding the tax revelation has provided Trump’s critics with more ammunition for their argument that he and other wealthy billionaires are the ones who would be the beneficiaries of his proposed tax cuts.
The Trump campaign meanwhile has not denied the Times story, arguing instead that he acted within the law and that the Times’ publication of the tax forms was illegal. The campaign also hinted that the paper will likely be sued over the matter.
The newspaper said the tax returns were mailed by an unknown person and that indications are it was mailed from Trump Tower.
Trump, who has been under pressure to release his tax returns has repeatedly said he has been advised not to do so until an audit being conducted by the IRS is completed.
When rival Hillary Clinton raised the prospect that Trump’s refusal to release his tax return because it may show he may not have paid federal Income Tax, Trump responded that it would be “because I am smart.”
Yesterday as the Times story broke Trump’s surrogates Rudy Guillani and Chris Christie offered a stout defense of him describing Trump as a genius for using the tax code to his advantage.