David Cay Johnston explains Trump’s tax schemes

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.
[Read more…]

Donald Trump’s surrogates

I do not have time (or the stomach) to follow the appearances and antics of Donald Trump’s surrogates on the various TV talk shows. I see news headlines of this or that surrogate tying themselves up in knots trying to explain away Trump’s statements or poor performance in the debate but I rarely follow up on them because I don’t think they matter. Who cares what surrogates say? Surrogates are useful for filling up the time on the 24/7 cable talk shows but for little else. Does anyone’s choice of who to vote for ever get swayed but what a surrogate says or does?
[Read more…]

Seth Meyers on Trump’s ‘charity’

It is becoming increasingly clear that for a person who likes to boast so much about his wealth, Donald Trump is really cheap. He stiffs people to whom he owes money and uses his so-called charitable foundations to help himself, all the while boasting that he is a philanthropist but refusing to release his tax returns that would provide proof of his generosity.
[Read more…]