President Trump Slams New York Times Report Accusing Him Of Tax Fraud
The current US president paid just $ 750 in federal income taxes in both 2016 and 2017, The New York Times reported Sunday, citing tax filing data..
In a report that Donald Trump christened as «false», The New York Times reported that the Republican president paid no federal income tax for 10 years until 2017, despite receiving $ 427.4 million until 2018 from his reality TV and other licensing deals..
Disclosure of previously private tax information happened shortly before the presidential election, where Trump will compete with a Democrat for a seat in the White House Joe Biden. Democrats quickly jumped at the report to portray Trump as a tax evader and question his reputation «honest and open businessman».
Leader of the Democratic Party Chuck Schumer Asked Americans via Twitter to Like If They Pay More Federal Income Tax Than Trump.
The NYT reported that this is only the first story about the activities of the current president. In the near future, the newspaper promises to publish several more articles.. Two of the reporters who wrote the story won the 2019 Pulitzer Prize for investigating the president’s financial affairs based on earlier tax reports..
Having named the report «total fake» at a press conference at the White House, the president again cited the current audit as the reason he does not publish the reports. In a statement to The Times Alan Garten, Trump Organization lawyer said Trump has paid millions of dollars in personal taxes over the past decade without weighing specific findings on minimum income taxes.
Trump created precedent, refusing to publish their tax returns. Previously every presidential candidate since the 1970s, fulfilled this condition. Currently Trump litigates New York attorneys and Congressional Democrats who are seeking to release the incumbent’s tax information.
He also previously indicated that he prefers to minimize his tax bill, stating during the 2016 presidential debate that it would make the country’s tax practice smarter..