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 of New York Times, who released information on twenty years of the Republican businessman’s tax returns on Sunday.
“He has paid no income tax at all in ten of the previous fifteen years, largely because he has reported more losses of money than gains”, writes the American daily.
Donald Trump, who aims to be re-elected in November, was able to lighten his score by reporting heavy losses in 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, claiming they were 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.
The tax returns of the former real estate mogul who became president and candidate for reelection in November are at the heart of a legal battle, Donald Trump having always 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.
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 on the extent of its wealth or on potential conflicts of interest.