Hillary Clinton is desperate during this election, and she’s proven it by taking a swing at Donald Trump about his taxes. Unfortunately for her, it seems that line 15 of one of her most recent returns has just come to light – and the bombshell reality is embarrassing to say the least.
As the leftist media has done their best to make America aware, Trump’s 1995 tax returns have been leaked. Of course, it wasn’t long before Hillary’s lap dogs were crying “scandal” while talking about Trump’s sizeable “net operating loss.” Heck, even Hillary herself jumped on the bandwagon:
Trump "apparently got to avoid paying taxes for nearly two decades—while tens of millions of working families paid theirs." pic.twitter.com/g62jB9fKr5
— Hillary Clinton (@HillaryClinton) October 2, 2016
Trump doesn’t write the tax codes, but he does use them to his advantage, just as every other American with two brain cells does. The Wall Street Journal explains the “loophole” used as:
The tax treatment of losses, bound to become a subject of national debate, is a typically noncontroversial feature of the income-tax system. The government doesn’t pay net refunds when business owners lose money, but it lets taxpayers use those losses to smooth their tax payments as they make money. That reflects the fact that “the natural business cycle of a taxpayer may exceed 12 months,” according to a congressional report.
Typically, for federal returns, such net operating losses can be carried backward for two years to offset past income and then kept on a taxpayer’s books for 20 years, though Mr. Trump’s losses could only qualify for a 15-year carryforward under the law at the time.
In short, Trump avoided paying federal income taxes by reporting massive losses on his 1995 tax return, since that’s how the tax code works. However, Hillary may want to stop trying to hammer her opponent. Line 15 of her own taxes – previously released by her own campaign – has just come to light.
As it turns out, Hillary has done the same exact thing on her own returns. Hillary is just as “guilty” of using the so-called “loophole” put in place by the IRS. If anyone is angry about either candidate doing this, please direct it at the IRS and those responsible for making the tax laws.
We’ve seen these acts of desperation come out of Hillary’s camp all too frequently these days as she continues to drown in the polls. It’s even worse when she wants to bash her opponent for something only for the American people to learn later on that she’s guilty of the exact same thing.
There isn’t one person in this country who, if they were actually a billionaire, wouldn’t hire the best lawyers and accountants to ensure they paid the least possible. I mean, why pay hundreds of thousands of dollars when you don’t have to? That’s just dumb.