Donald Trump’s ‘Fiduciary Duty’ Tax Rate Excuse is Nonsense
There’s no evidence yet that Donald Trump violated any tax laws with his mammoth $916 million reported loss in 1995 when he paid no taxes. But the claim by Trump and his surrogates that he had a “fiduciary duty” to his family and investors to pay as little tax as possible is pretty silly.
Fiduciary duty, of course, applies to public company executives who have to maximize shareholder value by paying the lowest legal rate. But this has to do with corporate tax returns, the question raised by the New York Times is about his personal tax return, which are not the same thing.
Either Donald Trump does not know there is a difference between personal and corporate tax filings, he doesn’t understand what the word “fiduciary” means, or he is banking on the idea that you don’t understand the different tax fillings by stringing together a nonsensical sentence.