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The New York Times reported on the 27th that the President of the United States, Donald Trump, has not paid taxes in 10 of the last 15 years. At a branch conference held at the White House that day, President Trump rebutted, saying it was “fake news” and “paid a lot of taxes.” [AP=연합뉴스]
The New York Times reported on the 27th (local time) that the President of the United States, Donald Trump, had not paid any income tax for 10 of the 15 years before being elected president in 2016.
NYT Trump reveals 20 years of personal and corporate tax data
“No taxes were paid for 10 of the 15 years prior to the presidential election”
Personal income tax of $ 750 per year in 2016 and 2017 … Less than the middle class
Trump “fake news” … Possibility of becoming a ‘tax scandal’
In 2016, the year he was elected president, and in 2017, the first year of his inauguration, he said he paid $ 750 a year (about 880,000 won), which is less than the middle class on federal income tax. The personal debt maturity returns in the next four years in the amount of $ 300 million (about 352.5 billion won).
The NYT revealed that the tax fraud was committed based on obtaining tax data from the last 20 years of President Trump and the company he operated. Five weeks before the November 3 presidential election, big bad news broke on the road to President Trump’s re-election.
President Trump has been unable to pay any taxes in the past 15 years, according to the NYT, reporting that he has incurred more losses than gains.
The newspaper reported that it has cut taxes with questionable measures, including a $ 7.3 million tax refund, which is now audited by the IRS.
The newspaper assessed that “President Trump succeeded in playing business giants, but the reality turned out not to be.”
President Trump’s story to the American people is completely different from what the fiscal data shows. CNN slammed Trump for acting like he’s not a millionaire and ultimately using his presidency as a means to make money.
Online media Axios said: “The NYT has disclosed a large part of the financial information that President Trump has tried to keep secret for a long time.”
Some of Trump’s wealth was also revealed. It was reported that President Trump made $ 427.4 million (about 502.2 billion won) through the reality TV show ‘Apprentice’. Includes contribution fees and license fees.
A significant amount of this money was invested in businesses, including golf courses, and “cash was quickly swallowed,” NYT said. Businesses have suffered massive losses, and as a result, President Trump’s taxes have been slashed. Yet despite the recession, President Trump still led a splendid life, NYT raised suspicions.
President Trump inherited his fortune “in secret” from his father, Fred Trump, and used a similar method for his eldest daughter Ivanka and their children, the newspaper reported. It turned out that they turned over the property to Ivanka and received a tax refund on behalf of consulting fees, NYT said.
It was also revealed that some of them received tax breaks through expense processing. The NYT said President Trump was also exempt from the costs of oil, food and hairstyling.
NYT paid attention to the Miss Universe competition held in Moscow, Russia in 2013. It is said to have been the highest-grossing event while Trump co-owned the beauty pageant.
At the event, Trump is said to have earned $ 2.3 million (about 2.7 billion won) in personal salary. The Agararov family, who were a local partner in Russia, was the protagonist that connected the two when Trump camp staff and Russian forces came together to support Democratic presidential candidate Hillary Clinton during the 2016 presidential election.
President Trump responded to the question at a press conference held at the White House that day, saying it was “completely fake news” and that he “pay a lot of taxes.”
However, it refused to disclose tax data due to the fact that it is “under regular audits.” President Trump insisted: “The IRS did not treat me well. The IRS treats me unfairly.”
Trump’s corporate attorney, Alan Garten, told the NYT that “all or most of the facts are inaccurate” and that “in the last decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government.” He added that the “personal tax” paid since the 2015 presidential declaration was in the millions.
Using the term “personal tax, not personal income tax,” the NYT reported that it appears to be a lump sum of income tax, social security, and health insurance.
The NYT scoop is likely to affect voter votes during the 30-day campaign, US media reported. If Democratic presidential candidate Joe Biden continues to lash out during the first televised presidential debate on the 29th, two days later, there is a chance it could escalate into a massive ‘tax scandal’.
Washington = Correspondent Park Hyun-young [email protected]
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