Cay Johnston on Kushner Tax Report: ‘Congress Treats Real Estate Better than Any Other Industry’

‘Tax lawyer for another big real estate family once said to me if you’re big in real estate, you’re paying income taxes, you should sue your lawyer for malpractice’

EXCERPT:

BERMAN: "A new report from 'The New York Times' details how Jared Kushner has been using a legal tax loophole, managed to pay nearly zero federal income taxes for the past five to eight years. Joining us now is investigative reporter David Cay Johnston. He's the author of 'It's Even Worse Than You Think: What the Trump Administration is Doing to America.' David, thanks so much for being with us. This is basically an issue of the real estate business, which Jared Kushner and his family, and also the president and his family, have been deeply involved in for decades. But basically this suggests 'The New York Times' going over documents that Jared Kushner probably didn't pay any income taxes because he essentially said he had real estate losses every year, correct?" 
JOHNSTON: "Correct. And, you know, I -- a tax lawyer for another big real estate family once said to me, if you're big in real estate, you're paying income taxes, you should sue your lawyer for malpractice because Congress treats real estate better than any other industry in avoiding taxes legally." 

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