Donald Trump had a tumultuous weekend following a report that the billionaire wrote-off a $916 million loss in 1995. The loss allowed the billionaire to minimize his tax bill for nearly a decade, according to estimates.
The Republican nominee who has stated that people need to pay their fair share in taxes was called a “genius” by his adviser and former Mayor of New York, Rudy Giuliani.
Giuliani stated that Trump had a “fiduciary duty” to his investors and he has to maximize profits as a result. The former mayor also likened Trump to Apple’s Steve Jobs who turned around the computer giant and turned it into the world’s biggest company.
The tax records, obtained by the New York Times, are said to have arrived in a manila envelope.
Trump’s tax benefits and potential lack of paying taxes for 18 years came as a result of bad deals that he made in the 90s. Trump’s camp has not denied the reports, and tweeted, “I know our complex tax laws better than anyone who has ever run for president and am the only one who can fix them. #[email protected],” on Sunday.
Republican New Jersey Governor Chris Christie stated, “There’s no one who has shown more genius to maneuver about the tax code as he rightfully used the laws to do that.”
Trump continues to refuse to release his tax returns.