Trump may have avoided paying taxes for 18 years: Report
AGENCIES
Washington
Republican presidential nominee Donald Trump declared a $916 million loss on his 1995 income tax returns and the large tax deduction may have allowed him to avoid paying federal income taxes for up to 18 years, according to report in the New York Times.
In a statement responding to the Times report the Trump campaign said that the tax document was obtained illegally and that the New York Times is operating as an extension of the presidential campaign of Democratic rival Hillary Clinton.
The Times said it had obtained Trump's 1995 tax records and that they showed he received the large tax benefits from financial deals that went bad in the early 1990s.
The newspaper said that tax experts it hired to analyse Trump's records said tax rules which are especially advantageous to wealthy filers would have let Trump use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.
The Times said that although Trump's taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years.
Trump has declined to release his tax records, unlike previous presidential nominees in modern history, saying his taxes are under a federal audit.
Experts say he could still release them publicly if he wished.
"Mr Trump is a highly-skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required," the Trump campaign statement said.
"That being said, Mr Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes, along with very substantial charitable contributions," it said.
Meanwhile, Trump closed out what has been a rough week for his campaign by escalating personal attacks on Clinton.
Trump questioned the stamina of Clinton, who suffered a bout of pneumonia last month, and said she should be in prison for her handling of classified emails.
Meanwhile, renewing voter fraud warning, Trump has warned of voter fraud in "certain areas" and mocked Democratic rival Hillary Clinton's health and marriage.Speaking to a crowd of nearly 5,000 in Pennsylvania on Saturday night, Trump made some of his wildest accusations yet about his opponent and the integrity of American elections, the Guardian reported.
Trump attacked his rival in starkly personal terms. He said of her "she has bad temperament, she could actually be crazy" and went on to imply that she had been unfaithful for her husband.
"I don't even think she's loyal to Bill, if you want to know the truth. And really folks, why should she be, right," Trump said.
The Republican nominee whose rallies have long included loud chants of "lock her up" directed towards Clinton, said bluntly on Saturday "she should be in prison."
Trump also warned of the specter of voter fraud without evidence, revisiting accusations he first made in August that there will be voter fraud in "certain areas" of Pennsylvania, a statement that was a clear indication about African-American areas of Philadelphia city.
"Watch your polling booths, because I hear too many stories about Pennsylvania, certain areas," the Republican nominee told the almost exclusively white crowd in Manheim.
He added "we can't lose an election because you know what I am talking about."
The Republican nominee also complained about what he saw as a rigged debate and insisted that he actually bested Hillary Clinton in Monday night's presidential debate.
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