Behold Hillary Clinton’s hypocritical harrumph at the revelation from leaked private and personal tax records being published in the New York Times. Her umbrage at Trump reporting a carried-over nearly $1 billion loss on his 2015 tax return is phony and ignores that this is a common practice legally taken advantage of by many, including herself. Looking on page 17 of her 2015 tax returns, we find the righteously indignant Mrs. Clinton claiming a nearly $700,000 capital gains loss on assets held for more than one year.
The New York Times, as it turns out, also used the net loss provision of the tax code, and why not? The purpose of the provision is to let businesses survive in rough times and to keep their employees employed. Without it small businesses would die in infancy and larger businesses would teeter in tough times. This provision was put into the tax code to stimulate investment and encourage the risk-takers who create jobs. Trump was right when he said he had a fiduciary responsibility to investors and employees to pay as little tax as legally possible. The first objective of business is to stay in business, something which someone who never created a job or met a payroll might not grasp.
What kind of genius loses nearly a billion dollars? A genius like Obama buddy Warren Buffett reported a pre-tax loss of $873 million for tax year 2013. And, as the blog Flopping Aces reports, the New York Times also has used the ability to offset taxes with losses:
(Excerpt) Read more at americanthinker.com ...
