- Edward McCaffery: It appears Trump borrowed money for his casinos, lost the money, then claimed that loss so he could avoid taxes
- He notes we don't know if the plan worked, because Trump will not disclose any of his tax returns
Edward J. McCaffery is Robert C. Packard trustee chair in law and a professor of law, economics and political science at the University of Southern California. He is the author of "Fair Not Flat: How to Make the Tax System Better and Simpler." The opinions expressed in this commentary are his.
(CNN)In early October, a few pages of Donald Trump's state tax returns mysteriously mailed to The New York Times revealed he had claimed a $916 million loss -- well over a billion in today's dollars -- which he could use to avoid taxes for nearly two decades.