Of course he pays federal income tax ON HIS PROFIT. Showing and carrying a loss until subsequent revenue covers it and produces a profit IS NOT AVOIDING TAX - his profit gets taxed as designed. No matter what side of the aisle, no good businessman is going to pay taxes on non-existent profits. People are too stupid on both sides to realize this is not even an issue.
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. . . and God said unto them, Be fruitful, and multiply, and have dominion over the fish of the sea . . .