New York Times Recycles Old Trump Tax Story
May 8, 2019
RUSH: Now, Trump’s taxes. Isn’t it amazing, folks, it was just yesterday, just yesterday, right here on this program, I was talking about how strange it is that nobody in the IRS had leaked Trump’s taxes, after all of this time, knowing full well that the IRS is a government agency and that means there’s got to be a lot of career leftists in there, which means there have to be a bunch of people in the IRS that despise Trump.
The Democrat Party has been going bonkers trying to get hold of Trump’s tax returns because they think… You know what they still think? There was some locoweed on the Judiciary Committee today that made the point yet again, or tried to, lying through his teeth. Steve Cohen. This is the guy that had the Kentucky Fried Chicken last week when Barr refused to show up, trying to make Barr look like a chicken, like a coward. He’s actually trying to say that the tax return story New York Times (sputtering) “pretty much… pretty much gives us an indication that Trump might have been kept afloat by the Russians.
“This guy lost over a billion dollars. He should be in jail. The Russians… The Russians kept Trump afloat.†That’s what they want to find out. They’ve wanted to know this in Trump’s tax returns ever since the campaign of 2016. I was marveling yesterday that it hadn’t leaked. Just yesterday, I was marveling. We’re talking about it. Well, the New York Times must have heard us because they put out a supposed blockbuster report that claimed data they have been given on Trump’s taxes show that Trump took nearly a billion-dollar tax loss in the early nineties, which may have allowed him to go without paying income tax for 10 years.
How many of you upon hearing that said, “Wait a minute. I knew this. I’ve heard this.†You have heard this because this isn’t new. This is an old story recycled. I’ve got the audio sound bites from my program, from the archives, to demonstrate this, which we will do as the program unfolds. The New York Times reported practically the same thing back on October 2, 2016. Only back then, the New York Times claimed that Trump might not have paid any taxes for more than 18 years. It’s funny how nobody seems to remember this.
This is an old story being recycled, that Trump didn’t pay any taxes ’cause he took a billion-dollar loss and was able to write off that loss so he didn’t owe any taxes over all those years. That story has been out there. It’s been reported before. So this is the recycling of a story that claims to be new because there is a linkage (they say now) to Trump’s actual returns. Although the Times have been very, very careful to point out (impression), “We haven’t seen the returns.
“That would be illegal! We haven’t seen the returns. We have seen, uh, written transcripts of Trump’s returns from people who are legally allowed to have them.†Well, who would that be? Trump’s tax preparers, people at the IRS, what have you. Now, that bombshell back in 2016, October 2nd, was supposed to be the October Surprise that guaranteed Trump would lose to Hillary, that Trump hadn’t paid his taxes. (impression) “He had taken a billion-dollar loss. He was a rotten businessman! He might have been cheating the government, cheating the IRS.
“Who writes off a billion-dollars? No wonder Trump doesn’t want to release his returns,†everybody said. Here’s the bottom line about this. Because of the Democrat Party’s evolution, and because of its anti-capitalist beliefs, there isn’t, I don’t believe… I don’t believe there’s a single member of the media, and I don’t believe there is a single member of the Democrat Party capable of understanding the way a real estate magnate like Donald Trump organizes his affairs. I think it’s so far above their level of comprehension.
They don’t have any experience in it. They hate capitalism. These are Big Government people. They have not educated themselves on the way the private sector works, how private sector organizations/companies organize themselves, how they deal with tax law. They just hate them. They just hate capitalism. They hate big corporations, and they come up with all these cliches to describe them. There isn’t anybody independently capable of looking…
Even if they had Trump’s tax returns, I don’t think there is a single (even in the business community) journalist capable of understanding Trump’s tax returns and telling anybody what they mean. There isn’t anybody capable of understanding how the Trump Organization is and was organized and how it operated. There isn’t anybody that understands how real estate operated with tax law back in the eighties and early nineties.
Real estate tax law underwent significant changes in the 1986 tax law. I’m just telling you, the arrogance and contempt for capitalism among people on the left, I guarantee you, has prevented them from having the slightest idea. Not just about Trump, but any other megacorporation in real estate or whatever. How they actually operate and how reporting losses is an objective for some.
How limiting what you pay in taxes is an objective for some, and how maybe this tax return actually shows how brilliant Trump was at running his business and keeping it afloat, given these circumstances. In fact, the New York Times… I’m sorry! The New York Times did that story back in ’95 (I’ve got it right here) about what a brilliant operator Donald Trump is. It’s what led to the book The Art of the Deal. That’s right! The New York Times, in 1995, had a big kiss-ass article on what a brilliant operator Donald Trump is.
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https://www.rushlimbaugh.com/daily/2019/05/08/new-york-times-recycles-old-trump-tax-story/
