President Trump stood on the podium Sunday after a New York Times bombshell report claimed he paid just $ 750 in federal income tax in 2017, the year he took office. Mr Trump insisted that the report was “fake news” and “fabricated” but reiterated that he could not publish his tax returns because it was being audited, although an audit would not prevent him from making them public.
According to the Times, Mr. Trump paid no income taxes for 10 of the 15 years through 2015. In 2016, the year of his election, he paid $ 750 in federal income tax, the Times reported. and he paid the same amount in 201
The Times said the documents show millions of dollars in revenue from endorsements and licensing agreements, as well as some real estate companies, coupled with massive losses from golf courses. “The Apprentice” and the following deals were particularly lucrative, the Times said, bringing in Mr. Trump $ 427.4 million.
International companies also raised funds, including from the Philippines and Turkey, and raised concerns about potential conflicts of interest. The tax documents do not reveal “previously unreported connections to Russia”.
CBS News has not verified the information reported by the Times.
When pressing right on how much he paid in 2016 and 2017, Mr Trump said he “paid a lot” and claimed he paid a fair amount of “state taxes” in New York. Earlier this year, Mr. Trump relocated his primary residence to Mar-a-Lago, Florida, after paying millions in “city, state and local taxes.”
A Trump Organization attorney said in a statement that the New York Times report was “riddled with gross inaccuracies”.
“Over the past decade, the president has paid tens of millions of euros in personal taxes to the federal government,” said Alan Garten, attorney for the Trump organization, in a statement. “While we were trying to explain this to the Times, they refused to listen and refused our repeated requests to show us the records they wanted to rely on to substantiate their claims. Of course, I can’t help but say question the timing of the article. This is just another misleading story in the Times’ ongoing pre-election smear campaign. ”
Kate Bedingfield, Biden’s communications director, said on MSNBC that the Times report is “the final reminder of how clear the choice is here between Park Avenue and Scranton in this case.”
“You have a president in Donald Trump who spends his time thinking about how to work his way out of paying taxes and fulfilling the obligation that every other worker in this country makes every year,” she said. “With Joe Biden, you have someone who has a very different perspective on what it means to be a working family in this country.”