The recent bombshell about Donald Trump possibly carrying forward over $900 million in tax losses for 18 years is a major blow to Trump’s image and credibility. Secrets like this are the real reason why he won’t disclose his tax records.
But let’s give credit where credit is due folks. Trump pays his accountants and tax lawyers millions of dollars to find every loophole in the books to reduce his tax burden. Trump is not the genius; his squirrelly tax-evaders are the brains here. Trump just pays them to do their jobs.
Trump’s tax plan means more tax cuts for the wealthy and, according to Moody’s, would lead the U.S. to financial disaster. Giving more money to the wealthy doesn’t create more jobs as the Republicans love to claim. Trickle-down economics has been a dismal failure ever since the Reagan years.
Tax reform is critical for the next administration, but beneficial reform will never come from someone who prides himself on beating the system and wants more tax leniency for himself and other wealthy Americans.
Meaningful reform comes from Hillary Clinton, who understands that growing the middle class is the best way for our nation to move forward and prosper in the years to come.