How Donald Trump allegedly escaped income tax in recent years
The New York Times published on Sunday evening revelations about Donald Trump's tax returns, which he has always refused to disclose. Here is what they contain.
$ 750 in taxes only in 2016. 37 days before the US presidential election, the New York Times revealed on Sunday the content of Donald Trump's tax returns, which the billionaire has been trying to hide since he entered the campaign in 2015. The The daily published an investigation after obtaining tax data "over more than twenty years" concerning the former real estate magnate "and the hundreds of companies that make up his group". “Donald J. Trump paid $ 750 in federal income tax in the year he won the presidency,” in 2016, and as much “his first year in the White House,” in 2017, the newspaper writes. "Bogus information, totally invented," swept the president.
What we learn.
- The NYT reveals that Donald Trump has not paid federal income tax for 10 of the past 15 years, in large part because he said he lost a lot more money than he earned.
- He also benefited from a tax refund of 72 million dollars - thanks to maneuvers "questionable", according to the newspaper - which is the subject of an audit by the American tax services.
- Several of its main businesses show colossal losses, in particular its golf courses (more than $ 315 million since 2000).
- Despite this, Donald Trump continued to lead a lavish lifestyle, in particular by deducting professional expenses for air travel or $ 70,000 for a hairdresser.
Trump wanted to hide his tax returns. The New York Times recalls that in 1973, another president, Richard Nixon, had caused a scandal after the revelation in the press of the amount of his income tax, estimated at just under 800 dollars. Since then, all American presidents had made their tax returns public ... except Donald Trump. "He used not only his private attorneys, but also the power of his Department of Justice to block [court applications] all the way to the Supreme Court," writes the NYT. Considered one of the richest American presidents in history, Donald Trump pays much less tax than his predecessors Barack Obama and George W. Bush, who regularly paid annual taxes over $ 100,000.
Democrats attack. NYT information shows "Trump's complete disregard for American working families," said Democratic House Speaker Nancy Pelosi. "The president has played with the tax code to his advantage and has used legal battles to delay or avoid paying what he owes," said Democratic Representative Richard Neal, who tirelessly but unsuccessfully demands that Donald Trump's tax returns are released. In a tweet, Joe Biden's campaign team simply recalled the average amount of federal income tax paid by a teacher ($ 7,239), a firefighter ($ 5,283) or a medic ($ 10,216 ), professions hard hit by the health crisis or by the recent giant fires in the American West.
Why it matters. "[Donald Trump's] tax returns tell a fundamentally different story from the one he sold to the American public," writes The New York Times. For years, whether as host of The Apprentice then as a presidential candidate, Donald Trump has presented himself as a successful businessman, which has won over part of his base. The reality of his financial situation poses two more questions, according to the New York Times:
- Was his candidacy in 2016 motivated by the desire to improve his image and his brand?
- Has his presidency enabled him to revive his business?
With a little more than one month before the presidential election, it will be interesting to see what impact these revelations have on the next polls. It will probably be discussed on Tuesday evening, during the first debate between Donald Trump and Joe Biden. For its part, the NYT has promised new revelations in the coming days.
