DNC staffer: Tax loss credit used by Trump to avoid taxes was introduced by Clinton

Discussion in 'Small Talk' started by world famous 3rd base hecklers, Nov 7, 2016.

  1. world famous 3rd base hecklers

    world famous 3rd base hecklers Well-Known Member
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    DNC staffer: Tax loss credit used by Trump to avoid taxes was introduced by Clinton

    https://wikileaks.org/dnc-emails/emailid/28014

    RE: WaPo: Trump’s income tax returns once became public. They showed he didn’t pay a cent.
    From:BrinsterJ@dnc.org To: GrahamC@dnc.org, MillerL@dnc.org, DillonL@dnc.org, BauerN@dnc.org, robertske@dnc.org, SargeM@dnc.org Date: 2016-05-20 14:19 Subject: RE: WaPo: Trump’s income tax returns once became public. They showed he didn’t pay a cent.

    I know very little about this, but from a quick sweep it looks like passive-loss relief was a core component of Bill Clinton’s 1993 tax plan: AP: Siegel says ripple effects will likely reach other investment markets as well. "The Clinton proposal should be good for the real estate market with its easing of the passive loss rules, its easing of the rules that govern pension fund investment in commercial and debt-financed real estate, and its easing of the oversight regarding bank lending policies." … Chicago Sun-Times: Last year, Bentsen's Senate Finance Committee approved a change in the passive-loss system designed to provide partial tax-relief to property owners - and new buyers - who are "active participants" in real estate trades or businesses. Basically, the plan allowed such owners to escape the clutches of passive-loss treatment, and to write off losses from their real estate against net income derived from real estate. Guess what ended up in Bill Clinton's tax package? You got it: The very passive-loss relief plan that sailed through Bentsen's committee.
     

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