Opinion: No, Donald Trump isn’t a genius for losing almost $1 billion in a year

To the editor: The latest revelations about Donald Trump show that 1995 was a catastrophic year for him, as he lost close to $1 billion. That would have allowed him to use the Net Operating Loss provision in federal tax code to reduce or eliminate his income tax payments for the following 18 years, according to the New York Times. (“Tax troubles threaten Trump as election day nears, and so does his own approach to campaigning,” Oct. 2)

Compare that with the millions of taxpayers who suffered catastrophic losses during the financial meltdown of the late 2000s, losing jobs and homes. It would have been nice if they could enjoy the same benefits and not have to pay any income taxes for the following 18 years, but as Trump might say, they were not smart enough.

Eric Forster, Los Angeles

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To the editor: A challenge to everyone critical of Trump’s taxes: Next April 15, add an extra 10% above what you are required to pay the federal government in income taxes.

Come on, show up Trump. It might hurt a little, but you can do it. For all those who have tax losses or other deductions, don’t use them. Vote with your actions and show that your criticism is not just rhetoric.

Steve Hawes, Sunland

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To the editor: If Trump is so smart about taxes, why doesn’t he release his tax returns so that we can all admire his business acumen and intelligence?

Kate Nelson, Manhattan Beach

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