Gingrich reacts to New York Times report on Trump tax records


STEVE: LAST COUPLE OF MINUTES PRESIDENT TRUMP FIRING BACK AT THE “NEW YORK TIMES” CLAIMS IN THEIR LEAD STORY THAT THEY HAVE A DECADES WORTH OF HIS TAX DOCUMENTS FROM 25 AND 35 YEARS AGO SHOWING MASSIVE LOSSES. HE TWEETED REAL ESTATE DEVELOPERS IN THE 1980S AND 1990S, MORE THAN 30 YEARS AGO WERE ENTITLED TO MASSIVE WRITE-OFFS AND DEPRECIATION WHICH WOULD, IF ONE WAS ACTIVELY BUILDING, SHOW LOSSES AND TAX LOSSES IN ALMOST ALL CASES. MUCH WAS NONMONETARY, SOMETIMES CONSIDERED A TAX SHELTER. AINSLEY: HE CONTINUES: YOU WOULD GET IT BY BUILDING OR EVEN BUYING. YOU ALWAYS WANTED TO SHOW LOSSES FOR TAX PURPOSES. ALMOST ALL REAL ESTATE DEVELOPERS DID AND OFTEN RENEGOTIATE WITH BANKS. IT WAS SPORT. ADDITIONALLY, THE VERY OLD INFORMATION PUT OUT IS A HIGHLY INACCURATE FAKE NEWS HIT JOB. BRIAN: ALL RIGHT. JOINING US NOW IS NEWT GINGRICH WHO I DON’T THINK HAS BOUGHT BUILDINGS, CASINOS OR GOLF COURSES YET. BUT I ACTUALLY THOUGHT THIS WAS FLAT OUT FASCINATING OVER THE LAST 10 YEARS AT A TIME AT WHICH THE MARKET CRASHED HE BOUGHT STUFF. WHEN THINGS WEREN’T MAKING MONEY YET HE BOUGHT OUT HIS PARTNERS. A LOT OF THIS STUFF TURNED AROUND. ALONG THE WAY NEWT, YOU ARE A BIG BUSINESSMAN IN YOUR OWN RIGHT YOU TAKE WRITEOFFS TO INCENTIVIZE. I FOUND THIS FASCINATING “NEW YORK TIMES” ILLUSTRATING THIS ACTUALLY HURT THEIR OWN CAUSE?>>WELL, I MEAN, FIRST OF ALL, JUST ASSUME THAT THE “NEW YORK TIMES” IS THE MORALITY ENEMY OF PRESIDENT TRUMP. IT WOULD BE FUN, FOR EXAMPLE, TO CHALLENGE THE OWNER OF THE “NEW YORK TIMES” TO RELEASE ALL OF HIS TAX RETURNS AND FIND OUT HOW MANY LOOPHOLES AND SHELTERS THE “NEW YORK TIMES” AND THE FAMILY HAVE TAKEN OVER THE LAST 30 OR 40 OR 50 YEARS. IT WOULD BE FASCINATING TO HAVE NANCY PELOSI RELEASE HER FAMILY TAX RETURNS, FIND OUT HOW MANY DIFFERENT THINGS THEY HAVE DONE BECAUSE THEY ARE PRETTY RICH. WHAT YOU WOULD FIND IS, LOOK, DONALD TRUMP KNEW HE WAS GOING TO BE AUDITED. HE WAS A VERY SERIOUS BUSINESSMAN. HE HAD VERY GOOD LAWYERS. VERY GOOD ACCOUNTANTS. BUT THIS IS AN ARGUMENT FOR THE TRUMP TAX CUTS. WHEN YOU LOWER TAXES, THERE IS LESS REASON TO HAVE SHELTERS. WHEN YOU LOWER TAXES, THERE IS LESS REASON TO CREATE LOSSES FOR TAX PURPOSES. SO, IN A VERY REAL WAY, THE TRUMP TAX CUTS ARE VINDICATED BY THE “NEW YORK TIMES” STORY. EVERY AMERICAN SHOULD ASK THEMSELVES HOW SICK DO YOU GET WHEN THE “NEW YORK TIMES” AND “THE WASHINGTON POST” GO OUT OF THEIR WAY DAY AFTER DAY AFTER DAY TO FIND AN EXCUSE TO ATTACK THE PRESIDENT? AINSLEY: THIS WAS THE HEADLINE IN THE “NEW YORK TIMES” TRUMP TAX FIGURES SHOW OVER 1 BILLION IN BUSINESS LOSSES. HOW MUCH DOES THIS REALLY MATTER THOUGH? MAYBE IT WOULD HAVE MATTERED IN 2016 BUT NOW LOOK AT THE ECONOMY. IS THIS MORE OF JUST INTERESTING INFORMATION OR WILL IT REALLY –>>LOOK, WE LIVE IN THE AGE OF THE KARDASHIANS AND THE “NEW YORK TIMES” HAS MANAGED TO DISSEND TO THAT LEVEL. THE FACT IS, LET’S BE CLEAR, DONALD TRUMP IS RICH. THIS IS NOT A SHOCK. HE ANNOUNCED FOR PRESIDENT AT TRUMP TOWER COMING DOWN THIS GIANT ESCALATOR INTO THIS MARBLE ROOM. AINSLEY: THAT HE BUILT.>>KIND OF OBVIOUS THAT HE IS RICH. APPARENTLY HE WAS CLEVER ABOUT WHAT HE WAS ABLE TO DO WITH THE TAX CODE AND, IN FACT, THE OTHER TAXPAYERS HELPED MAKE HIM RICH BECAUSE HE DID LEGALLY WHAT HE IS ALLOWED TO DO. I REPEAT WHAT I SAID A MINUTE AGO. I WOULD LOVE TO SEE THE SALSE BERGER FAMILY RELEASE THEIR RECORDS AND TAX ADVANTAGES THEIR COMPANIES HAVE TAKEN OVER THE YEARS. HOW DID THEY DO FOR EXAMPLE, WHEN THEY SOLD THE “BOSTON GLOBE” IN I THINK THIS KIND OF ONE-SIDED, DISHONEST ATTACK IS PART OF WHAT IS SICKENING AMERICAN POLITICS AND MAKING IT HARDER TO GET DECENT PEOPLE TO RUN. STEVE: NEWT, I THINK YOU TOUCHED ON THE MAIN POINT AND THAT IS IT WAS LEGAL. EVERYTHING, YOU KNOW, THERE IS NO SUGGESTION IN THE “NEW YORK TIMES'” STORY THAT HE BROKE ANY LAWS. THE BIG HEADLINE IS, THAT THIS GUY WHO HAS PRESENTED HIMSELF AS A WORLD CLASS BUSINESSMAN LOST A BILLION DOLLARS.>>HE DIDN’T LOSE A BILLION DOLLARS. HE HAD A BILLION DOLLARS IN LOSSES INSIDE A BUNCH OF COMPANIES WHO ARE MAKING A HECK OF A LOT MORE THAN A BILLION DOLLARS. I MEAN, IF HE HAD LOST A BILLION DOLLARS, HE WOULD HAVE BEEN OUT OF BUSINESS. HE WAS NOT OUT OF BUSINESS. I TELL EVERYBODY, IF YOU READ THE ART OF THE DEAL AND THE ART OF THE COME BACK, TRUMP IS VERY HONEST IN THE ART OF THE COME BACK. HE SAID, LOOK, I WAS DEEPLY IN DEBT. THE ECONOMY WENT BAD. THE FIRST IRAQ WAR WAS EXPENSIVE. ATLANTIC CITY CEASED TO BE A CASH COW. HE HAD ALL SORTS OF THINGS. HE IS VERY OPEN ABOUT IT IN THESE BOOKS. FOR THE “NEW YORK TIMES” TO SUDDENLY FIND — LIKE SEEING IN CASA BLANCA I’M SHOCKED THAT GAMBLING IS GOING ON HERE BUT I NEED TO PICK UP MY WINNINGS. THE “NEW YORK TIMES,” I WILL BEG BET YOU HAS USED EVERY SINGLE SHELTER THAT THEY REPORTED ON. I CHALLENGE THEM TO RELEASE THE “NEW YORK TIMES'” TAXES AND THE SULSBERGER FAMILY TAXES AND THEY WILL NEVER DO IT. BRIAN: NEWT, I WILL TELL YOU WHAT, IF I’M CHINA AND COMING WITH A DELEGATION TO DO A DEAL WITH THE PRESIDENT. AND I READ. THIS WHEN THINGS GOT TIGHT HE BOUGHT OUT HIS PARTNERS DOUBLED DOWN AND BOUGHT MORE THINGS. FIERCE NEGOTIATOR WHO CAME OUT ON TOP. HE WAS PLAYING THE LONG GAME. IF CHINA IS COMING TO TOWN AND WANTS TO READ THIS AND FEEL AS THOUGH THEY CAN BEAT THIS GUY, GOOD LUCK. DIG IN. AINSLEY: ALL RIGHT. NEWT, THANK YOU.>>IF I GET A CHANCE TO TALK TO THE CHINESE DELEGATION READ THE TWO BOOKS BY TRUMP YOU WILL LEARN BETTER ABOUT HOW TOUGH A NEGOTIATOR HE IS. STEVE: YOUR NEW BOOK IS CALLED “CLIEWLINGS.” AINSLEY: IT’S A NOVEL. IS IT BASED ON A TRUE STORY.>>BASED ON THE RUSSIANS TRYING TO DESTROY THE U.S. SENATE WITH POISON AND REMINDER THAT THE RUSSIANS, IN FACT, ARE VERY DANGEROUS AND VERY TOUGH AND THEY DO TRY TO FIND PEOPLE TO INCLUDE WITH, INCLUDING FORMER FBI AGENT ROBERT HANSON WHO SPIED FOR THEM FOR 25 YEARS. STEVE: I REMEMBER HIM.

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