NY Times Paid No Income Taxes in 2014 – Pot Calling Kettle Black – IOTW Report

NY Times Paid No Income Taxes in 2014 – Pot Calling Kettle Black

Sunday, 2 October 2016, 12:10 BFH Uncategorized 19

Breitbart-

The New York Times has excited the Clinton campaign and the rest of the media with a revelation that Republican nominee Donald Trump declared a $916 million loss in 1995 that might have resulted in him not paying taxes in some subsequent years.

The implication, reinforced by CNN’s Jake Tapper on State of the Union on Sunday morning, is that Trump “avoided” paying taxes, when in fact his tax liability was zero.

But the Times itself has “avoided” paying taxes — in 2014, for example.

As Forbes noted at the time:

… for tax year 2014, The New York Times paid no taxes and got an income tax refund of $3.5 million even though they had a pre-tax profit of $29.9 million in 2014. In other words, their post-tax profit was higher than their pre-tax profit. The explanation in their 2014 annual report is, “The effective tax rate for 2014 was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations.” If you don’t think it took fancy accountants and tax lawyers to make that happen, read the statement again.

New York Mayor Rudy Giuliani defended Trump on Sunday, telling NBC News’ Meet the Press that Trump was a “genius” in business who was simply doing what the tax code allows every American to do by counting losses against tax liabilities, and bouncing back from failure to success.

That would include the New York Times — which, however, is still struggling.

As Jazz Shaw of HotAir.com notes, the Times — or whoever was its source — likely obtained Trump’s tax document illegally.

ht/ all too much

19 Comments on NY Times Paid No Income Taxes in 2014 – Pot Calling Kettle Black

  2. Yes, I read another story this morning saying that the Clintons and the NYT’s may have committed a felony in publishing Trump’s info unless he permitted them to do so. If he didn’t, and it is a crime, I hope he sues the crap out of them both.

  9. I don’t think it’s a case of the “pot calling the kettle black” in that Trump is a going concern while the NYT is not. In any event, rump ought to be able to play this to his advantage and lay the blame for another criminal act at the feet of Clinton. Force her to deny any connection between her campaign (in any way) and the leak of the documents. There’s bound to be one and it’s just a matter of finding it although time is important here. Maybe drag the NYT into public court to demand they reveal their sources.

  11. Trump must say;

    One of our biggest problems is there are two sets of rules in our country. One for Hillary and her hack cronies and the other for all the rest of us.

    I had a hundred lawyers and accountants working FULL TIME to make sure we followed the IRS rules that YOU AND YOUR HACK POLITICIAN FRIENDS WROTE. I followed the law, you break the law.

    You pay NO TAXES because you use your Clinton family charity as a money laundering scheme. 95% of the tax free money funds your lavish lifestyle. The Haitian earthquake victims bought Cheksea a 10 million dollar condo.

    The country knows you are crooked and a phony. You have no vision or plan for the future. Just the same old tired same old. Now i am going to talk about what matters to the American people, not your mud slinging lies.

    And by the way, give back the billions you stole from the Haitian victims. If every American family started a phony charity and got their boss to donate their salary to it instead of paying them directly, none of us would pay a cent in taxes. Just try and do what she dies America and see how far you get.

  12. Btw, the charitable foundation scam must end. They are used by the protected few to fund their personal life and allow them to pay almost nothing in taxes. Thats why every one of the leftist billionaires and hollywood millionaires adopt a bullshit cause and create a charity. They fund the charity with their personal income and then spend 97% of the money on their personal expenses.

    The one difference is they bribe the Clinton hacks and are “insiders” that are assured they will never be audited or scrutinized in return. If the average shmoe deducts more than 2% of their income on their return the software triggers and audit and a hellish nightmare that nobody dares to invite.

    They donate 40-50-60 % of their income to their own charity and never are held to account for a dime. And its all legit according to the so called rules if nobody ever sctutinizes what they do.

    They pay no taxes. The scheme was created for them, by them, and brilliantly covered up as “doing good deeds”…. it must ne ended.

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