{"id":50903,"date":"2016-10-02T13:54:41","date_gmt":"2016-10-02T17:54:41","guid":{"rendered":"https:\/\/stateofthenation2012.com\/?p=50903"},"modified":"2016-10-02T13:56:04","modified_gmt":"2016-10-02T17:56:04","slug":"the-new-york-times-paid-no-taxes-in-2014","status":"publish","type":"post","link":"https:\/\/stateofthenation2012.com\/?p=50903","title":{"rendered":"The New York Times Paid No Taxes in 2014"},"content":{"rendered":"

by<\/span> JOEL B. POLLAK
\n<\/a>BREITBART<\/p>\n

The\u00a0New York Times<\/em> has excited the Clinton campaign and the rest of the media with a revelation<\/a> that Republican nominee Donald Trump declared a $916 million loss in 1995 that might have resulted in him not paying taxes in some subsequent years.<\/h2>\n

The implication, reinforced by CNN\u2019s Jake Tapper on\u00a0State of the Union<\/em> on Sunday morning, is that Trump \u201cavoided\u201d paying taxes, when in fact his tax liability was zero.<\/p>\n

But the\u00a0Times<\/em> itself has \u201cavoided\u201d paying taxes \u2014 in 2014, for example.<\/p>\n

As\u00a0Forbes<\/em> noted at the time<\/a>:<\/p>\n

\u2026 for tax year 2014, The New York Times paid no taxes and got an income tax refund of $3.5 million even though they had a pre-tax profit of $29.9 million in 2014. In other words, their post-tax profit was higher than their pre-tax profit. The explanation in their 2014 annual report<\/a>\u00a0is, \u201cThe effective tax rate for 2014 was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations.\u201d If you don\u2019t think it took fancy accountants and tax lawyers to make that happen, read the statement again.<\/p><\/blockquote>\n

New York Mayor Rudy Giuliani defended<\/a> Trump on Sunday, telling\u00a0NBC News\u2019\u00a0Meet the Press<\/em> that Trump was a \u201cgenius\u201d in business who was simply doing what the tax code allows every American to do by counting losses against tax liabilities, and bouncing back from failure to success.<\/p>\n

That would include the\u00a0New York Times<\/em> \u2014 which, however, is still struggling.<\/p>\n

As Jazz Shaw of HotAir.com\u00a0notes<\/a>, the\u00a0Times<\/em>\u00a0\u2014 or whoever was its source \u2014 likely obtained Trump\u2019s tax document illegally.<\/p>\n