https://www.wsj.com/articles/trumps-unhappy-returns-11601333853?mod=opinion_lead_pos3
The New York Times has spun out 10,000 words claiming that Donald Trump paid little or no income tax for many years. The Times says it can’t release the actual tax documents lest this compromise its sources, and Mr. Trump denies paying so little but won’t release his returns.
Voters can decide whom to believe, but one fact to note is that the story doesn’t assert illegal behavior. The IRS presumably signed off on the Trump returns, except in one case in which it is disputing a $72.9 million deduction claimed by Mr. Trump. This is a fight rich people have with the IRS all the time, often ending in Tax Court.
The report makes much of a deduction Mr. Trump took for business consulting fees that match payments his daughter Ivanka reported in separate filings. There may be legitimate reasons for those fee payments, and Ms. Trump ought to clear the matter up.
Is it a scandal if Mr. Trump legally exploited the tax code’s treatment of chronic business losses to pay little tax? Hardly. Mr. Trump admitted this himself in a 2016 debate. Congress littered the code with loopholes aimed at assisting real-estate businesses, among others. Democrats write a tax code to please their corporate donors and then selectively attack CEOs or businesses that use the loopholes.