It has become a cliché that the real scandal in the US is not what is illegal but what is legal and this is amply demonstrated in the way that the real estate industry has obtained massive loopholes that benefit themselves and that Donald Trump has then exploited for his own benefit.
David Cay Johnston is a veteran reporter whose beats are economics and taxes. I have read a couple of his books and have linked to him frequently because he knows his stuff. As a bonus, he has also been following Trump’s career for several decades and this combination makes him the perfect person to explain what might be going on with Trump’s massive tax loss in 1995 that has been in the news this week.
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