With that said, it highlights the need for revamping out tax codes and it proves the point the rich are getting richer and aren't paying their fair share.
@AverageJoe :
How does it show that? The amount of write off is limited by the amount of loss. He can't lose $900M one year and then avoid all taxes for the next 18 years...it doesn't work that way. But it would not surprise me if that's not the narrative pushed, because most people who haven't filed a business loss are ignorant of how the tax code works in this area. They are dumb enough to believe what the biased MSM tells them to believe.
So this didn't help Trump "get richer" it just helped him recover his loss. The tax code allows for this to encourage business. How many people would risk their money to start a business if they knew any loss incurred at startup or during bad years could not be offset against equal gains in good years? Encouraging business strengthens the economy, even democrats realize that.
And exactly how does it help one avoid paying "their fair share?" To think that someone would intentionally incur a loss to avoid paying taxes is ludicrous. There is no gain to be made. You may pay less taxes, but you also LOST MONEY. Net gain is zero on that deal. And if there is enough to carry over to future years, then the net gain in the year of loss was negative.
