Donald Trump paid only $ 750 in federal taxes in the year he was elected

Sylvie Claire / Septmeber 26, 2020

Donald Trump only paid $ 750 in federal taxes in 2016, the year he was elected President of the United States, and then as much in 2017, according to a potentially explosive New York Times investigation that published information on Sunday about 20 years of Republican billionaire tax returns.

"He has paid no income tax at all in 10 of the previous 15 years, largely because he has reported more money losses than gains," writes the US daily.

“Fake news […] This is bogus, totally fabricated information,” Mr. Trump said at a White House press conference.

"I paid a lot, and I paid a lot of income taxes at the state level too, the state of New York taxes a lot", he added without giving more details, while 'he has always refused to publish this information.

The tax returns of the ex-real estate mogul who became president and candidate for re-election in November are at the heart of a legal battle, Donald Trump having consistently refused to publish them contrary to custom.

“The New York Times has obtained tax information for more than twenty years regarding Mr. Trump and the hundreds of companies that make up his group, including detailed information about his first two years in office. This does not include his personal income tax returns for 2018 or 2019, "says the newspaper, which promises further revelations in the coming days.

Unlike all his predecessors since the 1970s, Donald Trump, whose family group is not listed on the stock exchange and who has made his fortune a campaign argument, refuses to publish his tax returns and leads a legal fight for prevent them from being disclosed.

Its lack of transparency fuels speculation about the extent of its wealth or potential conflicts of interest.

Credit : Sudinfo