'Of course': Donald Trump admits he avoided paying federal income taxes - and accuses Hillary's donors of doing the same

  • Trump stated that 'a lot' of what he wrote off was depreciation and that he pays a 'tremendous' amount of taxes 
  • 'I absolutely used it,' he said of a provision in the tax code that allowed him to write of $50 million a year in income for 18 years 
  • 'And so do all of her donors, or most of her donors. I know many of her donors, her donors took massive write offs,' Trump said of Clinton
  • He pointed the finger at Democratic money men George Soros and Warren Buffett.

Donald Trump admitted tonight that he avoided paying federal income tax on a $916 million loss in 1995.

'Of course I do. Of course I do,' Trump said, validating documents published by the New York Times. 'And so do all of her donors, or most of her donors. I know many of her donors, her donors took massive write offs.'   

Trump stated that 'a lot' of what he wrote off was depreciation and that he pays a 'tremendous' amount of taxes.  

'I absolutely used it,' he said of a provision in the tax code that allowed him to write of $50 million a year in income for 18 years. 

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Confident: Republican presidential nominee Donald Trump listens to Democratic presidential nominee Hillary Clinton

Confident: Republican presidential nominee Donald Trump listens to Democratic presidential nominee Hillary Clinton

And Clinton allowed it as a U.S. senator 'and she'll always allow it, because the people that give her all of this money, they want it, that's why,' the Republican presidential contender said.

'I understand the tax code better than anybody that's ever run for president...and it's extremely complex,' he argued.

He pointed the finger at Democratic money men George Soros and Warren Buffett.

Clinton invoked Trump's personal taxes during a discussion on their plans. 

'I'm sorry I have to keep saying this, but he lives in an alternative reality. It's sort of amusing to hear somebody who hasn't paid federal income taxes in maybe 20 years talking about what he's going to do,' she said.

Trump had claimed that Clinton would raise 'everybody's taxes massively,' as he answered a voter's question about making the wealthy pay their 'fair share.'

The Democrat said that's 'not true' and her opponent would give the 'biggest' tax cuts to the wealthy they've ever had. 

US Democratic presidential candidate Hillary Clinton and US Republican presidential candidate Donald Trump debate in St. Louis on Sunday night 

US Democratic presidential candidate Hillary Clinton and US Republican presidential candidate Donald Trump debate in St. Louis on Sunday night 

She'd close corporate loopholes, she promised.

'I voted to closed, I think one of the loopholes he took advantage of when he claimed a billion loss,' Clinton stated, needling him.

The gains are going to the top, Clinton argued. 'We need to reverse that. People like Donald who paid zero in taxes, zero for our vets, zero for our military, zero for health and education, that is wrong. 

'And we're going to make sure that nobody, no corporation, and no individual can get away without paying his fair share to support our country.'

Moderator Anderson Cooper confronted Trump moments later on his taxes and he acknowledged for the first time that the fillings procured by the Times were accurate.

He couldn't say just how many years he didn't pay federal income taxes, however. 

'No, but I pay tax and pay federal tax, too. I have a write-off, a lot of it is depreciation.'

 

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