Fear and loathing in Atlantic City.
Hillary Clinton slammed Donald Trump‘s reported $916 million loss on his 1995 tax returns during a campaign stop in Toledo, Ohio, Tuesday, particularly shaming the GOP nominee for his failed casino ventures in New Jersey.
“What kind of genius loses a billion dollars in a single year?” she said, later adding, “Now, how anybody can lose a dollar, let alone a billion dollars in the casino industry, is kind of beyond me.”
Trump could have avoided paying taxes for up to 18 years because of the reported nearly $1 billion loss he took in 1995, according to The New York Times.
The newspaper hired tax analysts to examine the documents that were mailed anonymously to a Times reporter. The analysts found that if Trump did use the loss to avoid taxes, there was no wrongdoing.
In response, the Trump campaign said in a statement to the Times, “Mr. Trump is a highly-skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required. That being said, Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes. Mr. Trump knows the tax code far better than anyone who has ever run for President and he is the only one that knows how to fix it.”
According to Politico, Trump also told supporters in Pueblo, Colorado, Monday night, “As a businessman and real estate developer, I have legally used the tax laws to my benefit and to the benefit of my company, my investors and my employees. I mean, honestly, I have brilliantly — I have brilliantly used those laws.”
“But I’m working for you now,” he added. “I’m not working for Trump. Believe me.”
Still, the 70-year-old has continued to refuse to release his tax returns – breaking a decades-old tradition for presidential candidates.
“He abuses his power, games the system and puts his own interests ahead of the country’s,” Clinton said from Dr. Martin Luther King Jr. Plaza on Monday, according to NBC News. “It’s always Trump first and everyone else last.”
She added, “While millions of American families, including mine and yours, were working hard, paying their fair share, it seems he was contributing nothing to our nation. Imagine that. Not fair.”
Later in the day, Clinton told supporters at an Akron, Ohio, rally that if she is elected president, she’ll “pass a law requiring anybody who is a nominee of a major, national party to have to release their taxes,” Politico reported.
The former secretary of state released her own 2015 tax returns in August, revealing that she and husband, former President Bill Clinton, paid an effective federal tax rate of 34 percent and an effective state and local tax rate of 9 percent, and donated nearly 10 percent of their gross income to charity. Last year, Clinton released her tax returns from 2007 to 2014.