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Republican presidential nominee Donald Trump is in trouble again following revelations about his tax returns. The New York Times said Mr Trump's 1995 tax returns showed he reported over $900 million in business losses. This has enabled him to not pay nearly a billion dollars in income tax over the past 19 years. The Times suggests Trump is being hypocritical, as he has constantly criticized the tax system for being unfair. The Times wrote: "Trump is right when he says the system is rigged. What he doesn't say is that it’s rigged in his favor and in the favor of people like him, and against regular people - those of us who earn money, pay income tax on it, and financially support the country in which we live."



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Mr Trump has spent years on social media attacking high-profile people for not paying enough tax. He attacked President Obama for paying a "paltry" tax rate of 20.5 per cent. Former New York mayor and Trump campaign advisor Rudy Giuliani said Mr Trump had done nothing illegal and called him a "genius" for not paying tax and turning around his loss-making business. He likened Trump to Winston Churchill, Britain's leader during World War II. Mr Trump tweeted: "I know our complex tax laws better than anyone who has ever run for president and am the only one who can fix them." When Hillary Clinton accused Mr Trump of not paying taxes, he replied: "That makes me smart."

Sources:

  • https://www.washingtonpost.com/news/wonk/wp/2016/10/02/the-most-shocking-part-of-donald-trumps-tax-records-isnt-the-916-million-loss-everyones-talking-about/
  • http://www.nytimes.com/2016/10/03/us/politics/trump-taxes-twitter.html
  • http://www.reuters.com/article/us-usa-election-idUSKCN1220P5

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