I do not have a problem with Donald Trump writing off $960 million from his taxes on year, if he legitimately took a risk and lost money that year — and even rolling over that loss to other years. But if he made future profits, and he regained his money, he sure as hell should be paying taxes on that money. Many business people have very good and very bad years. Ask any farmer for sure.

We want people to invest money and take responsible risks. When they lose money in a particular year, they shouldn’t have to pay taxes on their loses. There should be a smoothing mechanism so that one’s one year loss can be balanced about by future gains. But you shouldn’t be able to avoid to pay any taxes, when you have a net gain in assets and wealth over time.

The bigger the investor you are, and the bigger your wealth, the bigger losses and gains. But you still should pay your fair share in taxes. I have some serious questions about how Donald Trump has deducted expenses and exploited the tax code to his advantage.

Trump really should release his tax returns before the election.