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

United States President Donald Trump paid just $ 750 (645 euros) in federal taxes in 2016, the year he was elected President of the United States, then as much in 2017, according to an investigation of New York Times, which released information on 20 years of the Republican businessman’s tax returns on Sunday.

“He has paid no income tax at all in ten of the past fifteen years, largely because he has reported more losses of money than gains”, writes the American daily.

Donald Trump, who aspires to be re-elected in November, was able to lighten 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, denouncing a “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 too”, he added without further details.

Trump Organization attorney Alan Garten said in a statement to the New York Times that Donald Trump had 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, a break from tradition for presidential candidates, saying they are audited.

The New York Times said he has 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.

Read also US Supreme Court inflicts major setback on Donald Trump on his tax returns

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 new revelations in the coming days.

Read also Supreme Court to rule on Trump’s pre-election tax returns

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.

The World with AFP

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