I must be getting old because I remember when the New York Times’ motto was “All the news that’s fit to print” and not “We’ll print any moldy old garbage as long as it makes Trump look bad.”
At the link is President Trump’s response to the Times’ big “scoop” from 30 years ago: that Trump’s tax forms from the ‘80s and ‘90s listed heavy losses and loans that on paper showed him billions in debt and saved him having to pay any taxes.
I already pointed out that this was typical for that era when both real estate and the tax code were going through major upheavals and everyone in the industry was using depreciation and every other deduction and loophole to stay afloat. But I didn’t mention that this is such old and well-trod news that Trump actually wrote a book about it 22 years ago called “The Art of the Comeback” and talked openly about it on “The Apprentice.”
At the time, the troubles of Trump and other developers were widely covered by the New York media. The Times even dubbed Trump the “Comeback Kid” back then for his shrewdness in structuring deals to avoid losing his empire. Now they’re condemning him for the same thing they once praised him for. What could have happened? (Oh, that’s right: he became a Republican and got elected President.)
This stale, well-chewed nothingburger isn’t likely to have much impact. Trump supporters will shrug it off as old news (“Wow, rich people use tax write-offs. Stop the presses.”) while his detractors might find it good for about a day’s worth of Trump-hate fuel now that they no longer have “Russian collusion” to burn about. Beyond that: ho-hum. The only real scandal here worthy of further investigation is how the Times got hold of Trump’s private tax records.
For his part, Trump has never denied exploiting the tax code. While campaigning, he even used himself as an example of rich people who have the resources to take advantage of it and said that’s why it needed to be reformed. But the Congressional Democrats who gave us that boxcar full of baffling baloney that is our tax code just want to jail Trump for exploiting it.
I like to look on the bright side, so I’m going to thank the Times for bringing this appalling situation back to the national spotlight. I’m sure that now, the Times, all other liberal media outlets who are trumpeting their story, and all the Democratic politicians who are making a fuss over it (I’m looking at you, Speaker Pelosi) will join me in my longstanding effort to replace our complicated, unfair, loophole-ridden and economy-crippling tax code with the simple, IRS-abolishing Fair Tax.
Welcome to the Fair Tax side, liberals! I’m glad Trump finally helped you see the light!