The conversation probably went something like this:
Trump: Can't we make this healthcare thingy go away?
KAC: Well we could yell "Squirrel!" and distract them like the healthcare fiasco did to all those stories about your connection to Putin. Oops, sorry. I didn't mean fiasco of course, I meant your beautiful, great, stupendous, healthcare program.
Trump: Good idea. Release last year's taxes.
KAC: Not a good idea, sir. Last year you didn't pay any tax.
Trump: When did I last pay any tax?
KAC: Um, that would be 2005.
Trump: Ok release the return.
KAC: Sir, we can't release the whole return cause it shows that you borrowed a lot on money from that guy in Moscow.
Trump: You mean the guy I met under the bridge that night?
KAC: Yeah, him.
KAC: Maybe we just release the pages that don't make you look too bad.
Trump: Are there any of those?
KAC: Sure, just the top sheet.
Trump: Good idea. I like 2000 count sheets. I have them on all of my beds. You should come over some time and feel them. Fantastic. Nothing better.
KAC: That sounds wonderful. Stupendous even. But I was talking about the top sheets of the tax return. It shows that you paid millions in taxes. They'll love it in Branson.
Turmp: I paid millions? Gonna fire my accountant.
Then there's this:
He would have paid only $5.3 million in taxes, or a mere 3.5 percent, had it not been for the alternative minimum tax, which was established in order to prevent wealthy people from exploiting loopholes to avoid paying taxes. Because of the AMT, he paid taxes that year at a rate closer to 25 percent.
Now hereís the punch line: Guess what Trumpís tax plan does to the AMT? Yes, thatís right. It eliminates it. WP