GW Law Prof Turley: ‘People In DC’ Doing ‘Claude Rains’ Act on Trump’s Taxes, This Isn’t ‘A Shocking Event’

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On Monday’s broadcast of the Fox News Channel’s “On the Record,” George Washington University Law Professor Jonathan Turley commented on Republican presidential nominee Donald Trump’s 1995 tax returns, “these are very common, and for people in DC to do this Claude Rains act of, I’m shocked, shocked that someone’s not paying their taxes really doesn’t pay very well.” Turley said of Trump’s taxes, “[F]rom what I can see, it’s not illegal. In this area, particularly real estate, debt is managed as much as profits, that as you can make as much money, believe it or not, with debt, as you can often in moving profits.” He added, “Well, there’s a thing called a net operating loss, where you can actually claim losses to investments, even losses experienced by the bank, not you personally, and use that to protect you against taxation. Companies do this all the time. Major companies often don’t pay much taxes. It’s a long standing criticism. … And there are very good arguments to make that we should close these type of loopholes. But these are very common, and for people in DC to do this Claude Rains act of, I’m shocked, shocked that someone’s not paying