Chronic Losses & Years of Income Tax Avoidance, Says NYT Report on Trump’s Taxes
Monday, September 28, 2020
A review by the new New York Times of tax return data for President Donald Trump showed his “finances under stress, beset by losses that he aggressively employed to avoid paying taxes and hundreds of millions in debt coming due.”
According to the NYT — Trump paid no federal income taxes in 10 out of 15 years beginning in 2000, due to reporting losing significantly more than he made.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTIn 2016 and 2017, Trump reportedly paid $750 in U.S. income taxes.
Trump Responds
“Its fake news, it’s totally made up,” Trump said Sunday during a press briefing less than an hour after the story broke in the newspaper. “Everything was wrong, they are so bad.”
“The disclosure, which the Times said comes from tax return data extending over two decades, comes at a pivotal moment ahead of the first presidential debate Tuesday and a divisive election.
Trump, whose net worth is claimed to be in the billions, denied that he paid such a small amount in taxes.
‘I’ve paid a lot and I’ve paid a lot of state income taxes too,’ he said.
Even before being elected to the White House in 2016, Trump was heavily criticized for not releasing his tax filing.”
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