On Sunday, Bernie Sanders hammered Donald Trump over his leaked tax returns on CNN’s State of the Union, declaring:
‘This is exactly why so many millions of Americans are frustrated, they’re angry, they’re disgusted at what they see is a corrupt political system in America.’
Of course, Donald Trump denies that $916 million tax write-off from 1995 that wound up in the New York Times is a problem. He claims that not only was it perfectly legal, it was a brilliant business move. Of course, as Hillary Clinton pointed out, the alleged billionaire’s employees, investors, and contractors who got screwed probably didn’t think that losing nearly a billion dollars was so “brilliant.”
Now Bernie Sanders is going ahead and doing something about these gaping tax loopholes that benefit the likes of Donald Trump while working families across America struggle to get by. On Tuesday, the Vermont Senator announced a new bill he’s introducing to close the tax loopholes that have likely enabled the real estate mogul to avoid paying federal taxes for 18 years.
Bernie Sanders said in his statement:
‘Special tax breaks and loopholes in a corrupt tax code enable billionaires and powerful corporations to avoid paying their fair share of taxes while sticking the burden on the middle class. It’s time to create a tax system which is fair and which asks the wealthy and powerful to start paying their fair share of taxes.’
According to the press release, these tax breaks and loopholes for the wealthy have done nothing to boost the economy as their supporters claim:
‘Special breaks and loopholes in the tax code favor wealthy real estate investors like Trump and do nothing to boost the economy. These breaks likely made it easier for him to claim losses of $916 million in the 1990s and avoid paying income taxes in subsequent years.’
Here’s a fact sheet from Bernie Sanders’ office on the tax breaks and loopholes the former presidential candidate’s proposed legislation seeks to close.
Bernie Sanders says he plans to introduce this bill when the next session of Congress begins. Now that the American public knows the extent to which tax breaks and loopholes help one-percenters like Donald Trump, it’ll be hard for Sanders’ colleagues in the Senate to say no.
Watch: Bernie Sanders tells CNN America’s “DISGUSTED” by Donald Trump’s tax dodging.
Featured image: Win McNamee via Getty Images.