Taxing patience
The candidate either made a huge loss or concocted one
MITT ROMNEY, at least, knew it was coming. “I think we have good reason to believe that there’s a bombshell in Donald Trump’s taxes,” the 2012 Republican nominee warned in February. On October 1st the New York Times revealed Mr Trump’s 1995 state tax returns, which had been sent to the newspaper anonymously. They show a $916m loss—entered part-manually, because, his accountant said while confirming the leak’s authenticity, the figure was too big for his software to process. Set against later income, the loss could have allowed Mr Trump not to pay federal income taxes for many years.
This article appeared in the United States section of the print edition under the headline “Taxing patience”
From the October 8th 2016 edition
Discover stories from this section and more in the list of contents
Explore the editionDiscover more
Donald Trump may find it harder to dominate America’s conversation
A more fragmented media is tougher to manage
An FBI sting operation catches Jackson’s mayor taking big bribes
What the sensational undoing of the black leader means for Mississippi’s failing capital
America’s rural-urban divide nurtures wannabe state-splitters
What’s behind a new wave of secessionism
Does Donald Trump have unlimited authority to impose tariffs?
Yes, but other factors could hold him back
As Jack Smith exits, Donald Trump’s allies hint at retribution
The president-elect hopes to hand the Justice Department to loyalists
Democratic states are preparing for Donald Trump’s return
But Mr Trump will be more prepared, too