Gen. Flynn Hammers NY Times Over Trump Tax Report
General Michael Flynn, former director of the Defense Intelligence Agency, discussed a recent New York Times report on a legal tax maneuver Donald Trump used in 1995 to offset a multi-million dollar loss that year.
The documents show Trump apparently declared a $915 million loss on his income tax filings in New York, New Jersey and Connecticut. The loss would've been so substantial, the Times reported, that he may have been able to offset as many as 18 years-worth of taxes by declaring that deficit if he chose.
Trump fired back on Twitter saying he knows America's tax laws better than any presidential candidate in history, and therefore could be the only one to fix them.
— Donald J. Trump (@realDonaldTrump) October 2, 2016
"What Trump tweeted out was exactly right," Flynn told Maria Bartiromo on Sunday Morning Futures, "he knows more about taxes than Hillary Clinton ever will."
"[Tax reform] is exactly the issue the New York Times wont report on," Flynn said.
"This election is about the future, and what Hillary Clinton--backed by the New York Times--...continues to harp on is the past and the status quo. [Trump] knows how to fix it," he continued, referring to the alleged unfairness of the tax code toward middle-class individuals.
Bartiromo confirmed the legality of wealthy individuals being able to offset income with prior losses: "There's nothing illegal here, but it doesn't look good," she said.
"Nobody outside the city of New York or the bubble of Washington reads that journal," Flynn responded.
"There are a lot of Bernie Sanders voters...that are starting to jump ship because of the things Hillary Clinton recently said."
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