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Trump reportedly only paid $ 750 in income taxes in election year 2016
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Trump is said to have paid almost no income taxes
The “New York Times” reports, citing secret documents, that Donald Trump has paid almost no income taxes in the last 15 years. The president of the United States reacted immediately at a press conference.
According to a media report, the President of the United States, Donald Trump, has not paid any income taxes in ten of the last 15 years. In 2016 and 2017, he only paid $ 750 each. Trump rejects the report.
GRAMA month before the US presidential election, an explosive New York Times report raises questions about incumbent Donald Trump’s finances. The newspaper wrote on Sunday, among other things, that the president of the United States only paid $ 750 in federal income taxes in 2016 and 2017.
Trump called the report “total fake news.” You will publish your tax returns when the IRS audit is complete, which has been ongoing for years. “The IRS is not treating me right. You treat me very badly, ”said the President of the United States.
The “New York Times” had access to tax documents of Trump and hundreds of companies in his group of companies for more than two decades. This shows, among other things, that Trump had not paid any income tax in 10 of the 15 years prior to 2016, given the high reported losses, the newspaper wrote.
Trump said: “I have paid a lot, I have also paid a lot of taxes to the state, New York state charges a lot.”
Trump had not released his tax return in the 2016 presidential election campaign, even with reference to the ongoing IRS audit. “Everything will be published, everything will come out, but after the exam.” They have been negotiated for a long time and things would be clarified. The IRS itself emphasizes that ongoing auditing does not get in the way of publications.
The president is currently defending himself in a New York court against an attempt by Manhattan prosecutors to access his private financial records. According to the New York Times, an IRS investigation reveals a tax credit of $ 72.9 million, which he received after claiming large losses.
The detailed “New York Times” report with many accurate figures could also increase political pressure on Trump to provide the public with information about his finances. The documents show, among other things, that he is personally liable for debts of $ 421 million, of which more than $ 300 million would expire in the next four years, the newspaper wrote.
Success with “The Apprentice”, losses with hotels
For Trump, the post also raises an image problem. For years he has presented himself as a successful and skilled businessman. General accusations that he pays too little taxes haven’t hurt him so far.
When then-opposition candidate Hillary Clinton pointed out her low tax payments in the 2016 election campaign, she chimed in that it proved she was “smart.” The figures published by the “New York Times” list losses that could not only be explained by the minimization of taxes, but also by the bad economic activity.
According to the report, a highly successful Trump venture was the television show “The Apprentice,” which has brought him a total of $ 427.4 million over the years. However, numerous hotels and golf courses in Trump would have reported heavy losses.
Democrats are using the report to launch new attacks on Republicans. Now it is clear why Trump is keeping his tax documents secret, Sen. Dick Durbin told MSNBC. “This so-called multibillion dollar business empire is a house of cards.”
House Speaker Nancy Pelosi called Trump’s debt a national security issue. People have the right to know who the president owes money to, he told MSNBC. Democratic candidate Joe Biden’s campaign team ran a commercial that listed the tax burden of an elementary school teacher and compared it to the reported $ 750. She immediately offered stickers that read, “I pay higher taxes than Donald Trump” for $ 7.50.
The ridiculous for hairdressing expenses.
The report’s detail that Trump had more than $ 70,000 in haircut tax deducted during the days of “The Apprentice” sparked ridicule on the Internet. For his daughter Ivanka, nine Trump companies had deducted costs of $ 95,464 for hairstyles and makeup.
The “New York Times” did not publish any original documents, explaining that it wanted to protect its sources. That would be a justified precaution: for example, printed documents may contain digital watermarks that are invisible to the human eye and that can be assigned to a specific printer.
