Donald Trump paid only $ 750 in federal taxes in the year he was elected
According to an investigation by the "New York Times", which publishes information on twenty years of tax returns by the Republican businessman on Sunday, Donald Trump "has not paid income tax at all during ten of the previous fifteen years, largely because he declared more losses of money than gains ”.
United States President Donald Trump paid just $ 750 (€ 645) in federal taxes in 2016, the year he was elected President of the United States, then as much in 2017, according to an investigation from the New York Times, which reports on Sunday about twenty years of the Republican businessman's tax returns.
"He has paid no income tax at all in ten of the previous fifteen years, largely because he has reported more money losses than gains," writes the US daily.
Donald Trump, who aspires to be re-elected in November, was able to ease his bill by reporting heavy losses to his businesses. He reported $ 47.4 million in losses in 2018, although he claimed at least $ 434.9 million in income in a financial statement that year.
"Fake news" for the president
Speaking at a White House press conference, the Republican president denied the New York Times article, calling it "fake news." "This is bogus information, totally invented," replied the Republican billionaire in a press conference at the White House. "I paid a lot, and I paid a lot of state income taxes as well," he added without elaborating.
Trump Organization attorney Alan Garten said in a statement to The New York Times that Donald Trump has paid millions of dollars in personal income taxes over the past decade, without specifically referring to the data reported by the newspaper.
Donald Trump has repeatedly refused to release his tax returns, breaking tradition for presidential candidates, saying they are audited.
The New York Times said it obtained tax returns spanning more than two decades for Donald Trump and companies within his empire. He said he had no information on Trump's personal tax returns for 2018 and 2019.
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.
Lack of transparency
“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.
