Tax dodging: don’t blame it all on Trump
Gillian Tett
Financial Times
Although it is customary for American presidential candidates to release their tax returns, Donald Trump is refusing to comply, says Gillian Tett. And critics suspect it’s because he has paid little (or no) tax in recent years. If so, he’s hardly alone. The row about his tax returns has shone a spotlight on the liability-dodging practices of real-estate developers – anything from installing goats on golf courses to a host of more opaque ruses. Big privately held property firms are rarely troubled by public scrutiny, and the US corporate tax code is so riddled with loopholes that developers “have to be pretty dumb” to pay any tax at all. No surprise that residential property was the most profitable US business sector…
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