3437 New York Times Publishes Donald Trump's Tax Records | True News
The latest manufactured Donald Trump scandal involved the New York Times publishing the Republican candidates tax records from 1995 showing a near billion dollar annual loss. The newspaper has speculated that Trump may have used the losses accrued in 1995 as a legal write off on future tax returns. That bastard. Freedomain Radio is 100% funded by viewers like you. Please support the show by signing up for a monthly subscription or making a one time donation at: http://www.freedomainradio.com/donate
Hi everybody, Stefan Wallenu from Free Domain Radio.
Hope you're doing well.
So, Mike and I are going to chat about Trump's leaked, perhaps, tax returns from 1995, plastered all over the mainstream media and some of the complexities involved therein.
Mike...
If I remember rightly, you had a little bit of an opening statement would you like to share with the world?
Yeah, I just want to say, days after Hillary Clinton dragged up a 20-year-old story about the previously bulimic-slash-anorexic Miss Universe, who then gained tons of weight after winning the competition, violating her personal contract, only to lose sponsorships and be attacked by the media, including CNN and specifically in Venezuela, by the way...
Leading to Donald Trump helping her out by calling a press conference using his media skills to poke fun at his own eating and the overweight reporters who showed up to cover the damn story, Only to then, later in her life, allegedly drive a getaway vehicle for a murderer, allegedly threaten the life of a Mexican judge, cheat on her boyfriend on national television, creating a sex tape.
Yes, it's a sex tape, folks, by the way.
Only to then get knocked up by a Mexican cartel drug kingpin and lie about Trump calling her Miss Piggy and Miss Housekeeping and claim that Trump's non-existent comments created her bulimia slash anorexia that she is on the record saying existed beforehand.
Oh!
Yes, a woman whose entire life was based off working an appearance-driven business whose original claim to fame was voluntarily signing up for a contest where participants, by logic, would be judged on their appearance, is claiming that Donald Trump commented on her appearance.
So after that story was drugged up from the annals of time, I don't know if they found it in a damn time capsule or whatever the deal is, this New York Times deal hits.
Trump is on record saying that he almost lost everything when Atlantic City and the economy tanked.
He's talked about losing hundreds of millions of dollars and actually at the time repeated a personal mantra of survive until 95.
Survive!
Until 95.
That tells you how bad it was for him and the entire economy and Atlantic City as a whole back then in 1995.
So then, while facing a hostile Republican establishment, Democratic establishment, mainstream media, and the bought-and-paid-for Never-Trump alternative media, Trump still says he's going to release his full tax records, unlike Ross Perot, unlike Steve Forbes, and unlike Michael Bloomberg,
and most other people that have actually You know, had success in a business environment prior to running for political office, but he needed to wait until an IRS audit was complete because every lawyer with a brain has told him that it would be incompetence of the highest order to release his tax records before the audit was completed.
Nevertheless, we've then been reminded a million times that it's not against the law for Donald Trump to release his tax records while under an audit.
Yeah, no shit.
Boring strawman argument is very boring.
Only for the Mexican billionaire Carlos Slim owned New York Times.
Yes, he only owns 17%, folks, but that's enough.
To then illegally publish Trump's 1995 tax records showing he lost almost a billion dollars in a single year.
Also proving that he had a billion dollars to lose in a single year, so he's really, really rich and successful.
They didn't say that, though.
And that he then may have used these losses to reduce his tax burden in future years, which is in complete compliance with the U.S. law.
Okay.
Okay.
Now, remittances sent to Mexico over the last year have totaled, folks, $24.8 billion, which is more than Mexico's total oil revenues.
And Carlos Slim, who owns a big chunk of the already-on-record Hillary Clinton endorsing New York Times, serves to lose a lot of money in his Mexico-based businesses if those remittances go buh-bye.
But that has nothing at all to do with their Trump opposition at all!
Nothing!
No, it's just, you know, they disagree on policy or something.
So the reporter who published these tax records, Steph, he's publicly claimed that he would be willing to go to jail in order to publish Trump's tax records.
And, you know, I gotta say, I'm kind of hopeful that Trump and his supporters help him fulfill his jail-based martyrdom wish for the Mexican billionaire U.S. welfare-based subsidy profits of the New York Times.
I hope we're able to help him out with that.
So yeah, that's the story, folks.
Donald Trump's 1995 tax records have leaked somehow.
They've showed up.
They were mailed to a reporter, and it was postmarked from Trump Tower in New York City, which is interesting, and we can get into that later.
And they published a story saying Donald Trump is terrible because he appears to have completely followed tax law.
Am I missing anything, Steph?
Help me out here.
Because I'm about to be driven insane by this never-ending stupidity.
No, the gravity well of uninformed idiocy is deep, deep in this particular phase of the election cycle.
So for those who don't know, if you lose a lot of money that you've already paid taxes on, right?
So you have that money come in as income, and then it's an asset or something like that, whatever it's going to be, however it's recorded, you've already paid taxes on it.
If you lose that money, then you can use that to offset your tax bill in the future.
And this is perfectly legal.
It's common in many places in the world.
And it's designed to not screw people who are taking risks.
Because you know who doesn't take a lot of risks?
Reporters.
You know, they're pulling a paycheck sometimes.
They're unionized for all I know.
But they're a steady paycheck.
They're not out there doing entrepreneurial mumbo jumbo and heebie-jeebies.
And so this is people who take risks less.
Let's not screw people who take risks by having them eat the losses when they lose and then have the government always make the profits when they win.
So this carry-forward thing, I think it was Scott Adams who said that people who are outraged about this are just showing that they're either not smart enough to understand how the basic tax system works or they're not surrounded by anyone who does.
Now, as far as not paying his taxes for 20 years, that is a complete red herring.
The guy has paid...
Unbelievable amounts of taxes.
I mean, even if we say that he's not paying any income tax because of this loss, the man is paying a staggering number of taxes.
Well, let's just say this, Steph.
He pays property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes, and federal taxes, along with charitable contributions.
That's specifically from the statement he just put out following this.
Hey, Mike.
Yes?
Hey, Mike.
Hey, Mike.
Hey, Apple.
Hey, Mike.
Just out of curiosity, do you know any entities that didn't pay any income tax or didn't pay any taxes in 2014 despite being profitable?
The name escapes me.
Why?
It's the Carlos Slim-owned New York Times, Steph.
Boom!
Yeah.
Funny how that works out.
They didn't pay any taxes.
Funny how that works out.
They paid no corporate taxes because they used write-offs and, you know, things which I assume are legal.
I assume are completely legal.
Again, the New York Times, much like Trump and anyone else with means, any company with means can afford the lawyers, can afford the accountants to go through the tax law and tax code with a fine-tooth comb to find out how it's going to benefit them.
Which is exactly why Trump has proposed...
Making the tax system far less complicated to even the playing field to the average Joe and Paul who just are going to do their taxes maybe at H&R Block or something and don't have the means to have 14 accountants to try and get them a million dollar break somehow.
Well, so this is sort of a typical way that it's being reported in the...
This is from The Guardian.
It's a British newspaper.
Remember those British newspapers that were all over...
The Pakistani rape gangs.
And remember the British newspapers that were all over the Jimmy Savile pedophile scandal at the BBC? No.
Remember how really fantastic they were at covering these things that were incredibly harmful and destructive, that children were getting raped left, right, and center, but they couldn't really be bothered to deal with these particular issues.
It's really nice to see that they're going back 21 years to Donald Trump's tax returns because they finally found their moral center and their cause.
It's not the protection of children from being raped.
It's stuff to do with Donald Trump.
So this is how they're reporting it.
Donald Trump was reeling from the biggest crisis of his campaign on Sunday after the publication of documents suggesting the wealthy Republican nominee may have been able to escape paying income tax for nearly two decades.
May have.
All the journalistic wiggle room of may have.
This is bullshit that we're just speculating, but hey, may have.
There you go.
Well, you know how I escape not being billed for a Maserati?
Do you know how I escape that, Mike?
Probably by not buying a Maserati.
You are good.
Exactly.
I'm able to escape huge numbers of bills by not buying stuff.
So if he's not legally required to pay the taxes, it's not like Snake Plissket getting out of New York in a John Carpenter movie.
This is not Houdini.
You don't have to pay the bill.
You don't pay the bill.
That doesn't mean you've escaped it.
It just means you don't have to pay it.
So they go on and say, in a direct challenge to his claim to be a successful businessman and champion of America's hardworking middle class, the anonymously leaked tax returns reveal how Trump used aggressive accounting tactics and the failure of several businesses to claim a loss of $960 million in his 1995 personal filing.
Okay, first of all.
I don't know what aggressive accounting tactics...
Is this where you get an accountant like with a nunchuck to do your...
Are they doing sit-ups at the same time?
Samurai sword, you know, punching me in the corner?
I don't know.
Yeah, do they do one tax return on paper and one on rice paper and then feed the rice paper one to an alligator that attacks you?
I mean, I don't know what this is.
It's either legal or it's not.
Aggressive tactics.
The failure of several businesses.
Okay.
For those who weren't perhaps – I graduated in the early 90s to mid-90s.
I can't remember the exact year because I'm getting old.
But it was rough, man.
It was a rough economy.
Like I couldn't even get a job as a waiter.
I mean I was like weeding people's gardens.
I was cleaning people's cars.
I mean it was just – it was a bad, bad economy.
Guess what?
But Steph, you had lots of money to go gamble in Atlantic City, right?
Right?
Well, obviously, that's why.
I mean, my income was down.
But so, you know, people...
You know, when the economy is bad, when people don't have jobs, a couple of things they don't do.
They don't get haircuts very often, unless they get a job interview.
They don't buy a lot of expensive clothes.
Maseratis are out of the question.
Also, hotels and gambling tend to go a little by the wayside, because people take fewer vacations.
And if you don't have a job, like I did a lot of business travel, stayed at a bunch of hotels, you don't do that if the economy is going bad.
And guess what?
The economy going bad...
Was not Donald Trump's fault.
He had to survive it and ride it out.
And what I love about this story, and this is how, like, the muskets that these Democrats seem to be using to try and take down Donald Trump just keeps going off in their faces.
Because basically this story, Mike, says, hey, you know, Donald Trump...
Can be really, really in the hole.
He could be massively in debt and he can grow his way out of it.
Isn't that exactly what people are desperate for, for the United States to get out of the $20 trillion debt as a whole, to grow their way out of it?
I mean, isn't this basically him passing the audition with flying colors to be president?
It's almost like Donald Trump's mere existence is a microcosm of what we need to happen in the United States.
Yep, that's going to backfire and be the latest biggest.
The latest biggest scandal to hit Donald Trump.
I love how every scandal that they make up is now the biggest scandal to hit Donald Trump.
That's also very entertaining.
So Trump's team put out a statement as well, which talked about something that you have mentioned nonstop over the course of the last 10 years on this show, Steph.
It said, End quote.
Fiduciary responsibility.
Steph, could you break that down for the unlearned ear and explain what exactly that means?
Well, a fiduciary responsibility is a very binding agreement that you enter into with shareholders that you're going to take the best possible care of the company's finances.
And this is really, really important.
So if you just, let's say that someone who's running company ABC, next year they just say, you know what, I'm really, really annoyed at the fact that our national debt is so high, so I'm going to include a...
$10 million check to the IRS in the corporate taxes just so that they can use it to pay down the national debt.
Well, that's a problem because that is not in the best interest of the company as a whole.
And so you do actually have – and you can get sued.
You can get fired.
Like if you're acting in a way that is irresponsible with the company's finances – in other words, if you're not maximizing your tax savings – Then you can lose control of your company, you can be sued, you can be fired.
It is a violation of your obligations to maximize the resources that are available to your company.
So like a friend of a friend runs a business and is offered government subsidies for hiring employees.
Now if that person does not decide to take those government subsidies, well then they're losing revenue that their competitors will get a hold of because the competitors get those subsidies.
So you can actually get in trouble and it can actually be quite serious trouble.
Now you say, well, what about his personal income?
Well, if you spend like crazy in your personal income, it means that you usually have to draw more of a salary from the company.
So it has some relationship.
I don't think it's covered legally, but it has some relationship.
So, yeah, this is how things work in the business world.
And, you know, if you've not been an entrepreneur or, you know, if you have half a brain or you're a liberal, but I repeat myself, then, of course, this is going to be – it's going to appear hypocritical, right?
Because apparently in 2012, Trump – was nagging at people who don't pay taxes.
He said half of Americans don't pay income tax despite crippling government debt.
Now, just for those who don't know, this is not even remotely hypocritical because He's not talking about people who don't pay income tax because they've lost almost a billion dollars and they're carrying forward the losses to reduce their tax burden in the future.
Because they paid it before.
They paid tax on the 900 plus million dollars previously.
I'm pretty sure that half of Americans didn't lose a billion dollars in 1994 reporting it in their 1995 tax.
Quick, let me check.
Let me check.
No, they didn't.
Okay, go ahead.
That's right.
Let's Google that.
So...
Yeah, I mean, so he lost a lot of money, and he clawed his way back, and he grew his way back to the success that he has.
Isn't that the resiliency?
Isn't that the economic genius?
And he didn't just lose the money because he was bad at business.
Again, it's the Federal Reserve.
The 90s were a huge mess.
Overprinting, followed by underprinting, followed by interest rate manipulations.
I mean, there was the housing crash, the housing crisis.
There was, of course, the savings and loan industry, massive bailouts.
I mean, he's just trying to ride a storm, not of his own making.
And, you know, it's not like he's also criticized the Federal Reserve policy and currency manipulation, both in the United States and China.
And, you know, oh, wait, no, wait, he has.
Oh, oh, dear.
Oh, dear.
Yeah.
So he's getting criticized, essentially, for not breaking the law by not fulfilling his fiduciary responsibility to his business, family and employees.
And he's been accused, And here's the other thing, too.
So there's a theory, and it is, of course, wild speculation, but we might as well mention it.
It's been mentioned, certainly I've seen it in Twitter, that if Donald Trump did happen to know of or approve of or have something to do with this leak, kind of a stroke of genius in many ways.
If it wasn't a leak on behalf of the Donald himself, it's, boy, you couldn't ask for a better gift.
Yeah, because it shows that the New York Times and other people who've published all of this are willing to break the law to publish information that is negative or they perceive as negative towards Donald Trump.
And that's kind of important.
Like it is the equivalent of publishing someone's private health care records on the front page and then claiming that this is somehow for the good of society as a whole.
Because, yeah, he's showing that he was very successful.
He lost a lot of money because of forces beyond his control and he made his way back.
But he's showing the degree to which the liberal media is willing to just literally willing to go to jail to smear the guy, to publish information about it.
To publish something that isn't even a negative.
That's not it.
He lost money and then was able to become very, very successful after the fact and clawed his way back with a total redemption story.
Boy, you showed him.
My goodness.
You know what would have been great, Mike?
You know what would have been great?
If these carry forward tax laws were not there, then maybe Donald Trump would not have achieved the success that he did again, employing thousands and thousands of people, all of whom are paying payroll taxes and social security taxes and income taxes.
payroll taxes and social security taxes and income taxes.
And with the money that they make from the Trump organization, they end up paying sales taxes, property taxes, gas taxes, cigarette taxes, liquor tax, you name it, right?
So if he hadn't been able to carry these things forward, maybe he never would have got back on his feet.
And wouldn't that have been great?
Because then none of the, I don't know, I can't even calculate how much money has flown into the federal government's coffers and local government coffers because of Trump's businesses.
But it's got to be an enormous, enormous sum.
So if the liberals had their way, then I guess he'd have some kind of integrity in their boat by not being able to claim back the money, the tax credits based on the money that he lost.
But he wouldn't have his business empire and thousands of more people would be unemployed than he would have.
There'd be far less money in the government.
But don't worry, he'd be intellectually pure.
I mean, this is...
I gotta tell you, though, I am losing sleep over this.
When I think about 900 and...
What is it?
16 million dollars?
Whatever the exact number is.
When I think of that amount of money that hasn't been used by the government to borrow against to put our children even more into debt in future generations, you know, all the wars that could have been funded by that, the number of brown people that could have been killed in the name of spreading democracy by the U.S. State Department, when I think of all the terrible things that could have been done by the U.S. government, I just, I lose sleep, I don't know what to do with myself, and Damn you, Donald Trump.
Damn you for following the legal tax law so we couldn't fund even more foreign wars and destruction.
Oh, but Mike, I mean, I hate to rob you of even more sleep, Mike, but even worse than that.
Can I tell you why?
Don't do it.
Okay, go ahead, do it.
You know, the vast majority of the taxes that people pay, federal income taxes and so on, does it go into services?
No.
No, it goes into paying the interest on the money lent to the federal government by the private Federal Reserve.
It's a monopoly, don't get me wrong.
It's not a pure free market enterprise by any means.
But, so basically he's saying, the enemies are saying, well it would have been great if Trump had been able to pay his taxes so that the interest on the national debt could have funneled huge amounts of money towards more of the private banksters who run the society from behind the scenes.
That would have been absolutely, I thought that the left was sort of against this kind of financial manipulative thumb jiggery coming from Wall Street.
But apparently they just want more and more money to be funneled towards these, I guess people, I'll put in loose air quotes.
Well, Steph, they do have a great argument in the fact that Hillary Clinton has been so tremendously transparent in all her financial dealings over the course of her life and political career that this, you know, any illusion of things that we didn't know about Donald Trump's finances previous is just going to be terrible for his campaign.
I mean, clearly they're in crisis.
Maybe they got a PR agency working on it because, I don't know, he might go down to single digits when it comes to polling percentages, don't you think?
The Clintons donated some underwear to a charity and claimed $2 deductible for each underwear.
I read that on Twitter and I swear I thought someone was just making a joke.
I'm like, that's funny.
That's hilarious.
And then people show the actual, this is true.
They donated used underwear and then declared the two dollars that they got from the used underwear against their taxes.
The imagery!
The imagery there.
Hopefully you're not eating while listening to this show, but yeah, that's delightful.
And of course I think they went into two boxes.
One was called Granny Panties and the other was called Unholy Crusties.
That's the only thing that I can think of as far as where those would go.
So the fact that this is what's on the tip of everyone's tongue and everyone demanding Donald Trump releases tax returns and all this stuff.
In the meantime, there are lots and lots of very serious questions that have not been asked about the Clinton Foundation.
Not to mention Clinton, Hillary Clinton's speeches and Bill Clinton's speeches as well and the amount of money that they received specifically from lots of Wall Street and corporate entities, which then you could argue, looking at how things worked out, were there to, you know, a little pay for play when it came to Clinton's time in the State Department.
Those questions you can ask.
So the people interested in financial transparency and making sure that there is no even slight inkling of a conflict of interest, they're very concerned about the non-existent reality of Donald Trump's tax returns and are ignoring the big, giant, steaming pile of controversy that is in Hillary Clinton's past.
It's beautiful, though.
I mean, it's beautiful.
This is like watching a bird repeatedly attack a mirror and thinking that it's winning the World Heavyweight Championship.
I mean, the media is just becoming – I mean, they're becoming a caricature.
They're becoming, like, ridiculous.
You know, they have as much relationship to news as an anime character has to any real human being.
It's just become these big baby-eyed distortion things with chainsaw hands.
So anyway, we just wanted to dip in and give people the lowdown on this stuff.
We'll put some links below if you want to pursue this stuff any further.
But dear Lord, people got nuts that GE paid no taxes at one point and it's crazy.
I mean, this is from 2008, but I think the numbers are even worse now.
The top 1% paid over 38% of all income taxes.
The bottom 50% paid less than 3%.
The top 0.1% paid an average of $1.36 million in income tax and paid 18.5% of the nation's total federal individual income taxes.
That's 0.1%, one in a thousand paying close to 20% of the income tax.
But apparently, We're good to go.
Look forward to your comments below.
Thank you, mainstream media, for providing some much-needed comedy in this rather dire and dark election.
