Self-proclaimed billionaire Donald Trump paid just $ 750 in federal income tax in the year he was elected President of the United States, according to a mind-boggling New York Times survey who could upset the presidential election
« Trump taxes show chronic losses and years of tax evasion, » was the headline of the banner on the newspaper’s website on Sunday The president’s tax returns have long been the holy grail of American political reporting
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The president « paid $ 750 in federal income tax the year he won the presidency, » the newspaper reported, adding that « in his first year in the White House he paid $ 750 extra dollars
« He hadn’t paid any income tax in 10 of the previous 15 years – largely because he said he lost a lot more money than he earned »
In all, according to the newspaper, Trump paid no federal income taxes for 11 of the 18 years his reporters examined.Many of his businesses, including his golf courses, report significant financial losses – which helped him reduce his taxes
The Times also said that the documents it obtained « include information that Mr. Trump disclosed to IRS, not independent financial review findings They report that M Trump has hundreds of millions of dollars in valuable assets, but they don’t reveal his true wealth. Nor do they reveal unreported ties to Russia «
During a White House press briefing on Sunday, Trump made wacky allegations about plots against him and Biden, which he will discuss for the first time on Tuesday Ultimately he dismissed the Times report as « fake news »
He said: « We went through the same stories, you could have asked me the same questions four years ago, I had to plead that and talk about it
« Totally fake news, no I actually paid taxes And you will see that as soon as my tax returns are being audited they have been audited for a long time. The [Internal Revenue Service] don’t treat me well they treat me very badly You have people in the IRS – they treat me very badly «
The President added: « The New York Times tried the same thing, they wanna make some history They’re doing all they can It’s the least of the things The stories I read are so false, they are so false «
Asked why a billionaire only paid a few hundred dollars the year he won the presidency, Trump insisted, “First of all, I paid a lot, and I also paid a lot of income tax New York State charges a lot and I paid a lot of money in State Everything will be revealed It will come out but after the audit «
The revelations threaten to undermine Trump’s repeated claim to be a successful businessman and therefore a competent manager of the US economy
The Times also said it used « questionable measures » to cut its tax bill It faced a possible hit of « over $ 100 million » if it loses « an audit battle ten years with the IRS over the legitimacy of a $ 72 9 million tax refund that he claimed and received after reporting huge losses «
He promised more stories in the coming weeks, adding: “The tax returns that Mr. Trump has long fought to keep private tell a fundamentally different story from the one he sold to the American public «
Trump to face Joe Biden at the polls on November 3 He has long resisted demands by political opponents and the media to release decades of tax information He is the first president since the 1970s to hide his tax returns
« Even while reporting losses, he managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, airplanes and 70,000 $ in hairdressing for television, « The Times reported on Sunday.
« Ivanka Trump, while working as an employee of the Trump organization, appears to have received ‘advisory fees’ which also helped lower the family’s tax bill »
The newspaper adds: “Over the past two decades, Mr. Trump paid about $ 400 million less in combined federal income taxes than a very wealthy person who paid the average for this group each year »
Alan Garten, attorney for the Trump Organization, told The Times that « most, if not all, of the facts appear to be incorrect »
He said: “Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including millions in personal taxes since his candidacy was announced in 2015″
The newspaper pointed out that « personal taxes » appeared to cover other federal taxes, including social security and medicare
The report drew instant criticism Ryan Thomas, spokesperson for progressive advocacy organization Stand Up America, said: “Four years ago, Donald Trump shattered decades of precedent by refusing to disclose his public tax returns In every turn since, he has attempted to protect his financial records from the public – even as congressional and criminal investigators examine how he profited from the presidency and its decades of fraudulent tax schemes
« We’ve been asking for Trump’s tax returns for years because the American people deserve to know what they’re paying – and the answer seems to be very little A Man Using Dodgy Tax Schemes to Avoid Paying Taxes or lying to the public about his finances has no place in the Oval Office
Trump’s tax return
World news – UA – New York Times publishes Donald Trump’s tax returns in election bombshell
