#LastTimeTrumpPaidTaxes has taken over Twitter, with thousands of gleeful participants joining in a massive array of hilarious, biting, sobering and thought-provoking tweets about what life may have been like when Donald Trump last paid federal income taxes.
The New York Times released part of Donald Trump’s 1995 tax return on Saturday, with the shocking revelation that the $916 million loss that he declared that year could have allowed him to legally avoid paying any federal income taxes for up to 18 years.
The Times explains that the billionaire Trump could have received massive tax benefits from the “financial wreckage” left behind by his disastrous business decisions that he made that year and the enormous amount of money that he lost.
“Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.”
With such an extraordinary amount of money lost that year, Trump could “wipe out more than $50 million a year in taxable income over 18 years,” they wrote.
New York Magazine explains that the presidential nominee could have benefited from the massive failure of three casinos, an airline and a Manhattan hotel by avoiding paying income taxes for the next 18 years as a result of how much money he lost just in that year.
About an hour after the returns were published, Twitter users started using the hashtag #LastTimeTrumpPaidTaxes about what life was like the last time Donald Trump may have paid taxes.
People around the country and around the world weighed in with their
#LastTimeTrumpPaidTaxes contributions to what the world may have been like when Donald Trump might have last paid his federal income taxes.
Some of the tweets were quite well played.
While some of the
#LastTimeTrumpPaidTaxes tweets were quite entertaining, others were sobering.
People all over have been tweeting their additions to the
#LastTimeTrumpPaidTaxes hashtag. Some are referencing current events from decades ago, while others are bringing up outdated television shows, styles, music and more.
People on Reddit, Facebook and other social media pages were quick to join in on the action.
Others used the
#LastTimeTrumpPaidTaxes hashtag to hammer home their points about politics.
Some are using this opportunity to point out that The New York Times says that Trump would have been legally able to avoid taxes for that much time, not that he did. They are quick to point out that he would have been completely within his rights to not pay any taxes for many years after losing that much money, and argue that there’s nothing wrong with that.
While it’s unlikely that anybody really believes Donald Trump paid any taxes that he didn’t have to pay, it is completely unknown how much the presidential candidate paid in taxes in the years since 1995 since he still refuses to disclose any information about how much he has made in income or paid in taxes.
The issue has also been a sobering reminder of how few taxes the rich ever have to pay, thanks to laws that favor the wealthy and penalize the working class. Whether that’s a good thing or bad is a matter of individual opinion.
Meanwhile, others on Twitter have been using this opportunity to point out that the real message to be found is that Donald Trump lost over 900 million dollars in a single year — a pretty unbelievable amount of money to lose, and not a laughing matter.
On the other hand, others insist that the billionaire will be laughing all the way to the bank.
Only the voters can answer how much they care if they care if Donald Trump has paid his share.
[Featured Image by John Locher/AP Images]