AGI – “Donald Trump paid just $ 750 in federal income taxes in 2016 and another $ 750 in 2017. He has not paid any income tax in 10 of the previous 15 years, largely because he reported losing much more money than he earned“It is the scoop of the New York Times, which claims to have got its hands on the US president’s tax returns, hitherto remained secret, despite the legal battle to bring them to light.
Immediate reaction of the president who, during a press conference, harshly denied the information: they are all “fake news”, he assured.
And from the Trump Organization, attorney Alan Garten said that “most, if not all, the facts appear to be inaccurate“.” Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including millions of dollars since he announced his candidacy in 2015, ”Garten said.
For its part, the newspaper reports on “finances under stress” for Trump in the year of the campaign for re-election, of “losses and hundreds of millions of dollars of debt that he personally secured”.
Not only that, he also has a “ten-year battle with the Revenue Agency over the legitimacy of a $ 72.9 million tax refund that he claimed and received after declaring huge losses. An adverse sentence could cost him more than 100. millions of dollars, “says NYTimes.
The image that comes out of the study of tax returns tells “a fundamentally different story from the one he sold to the public American “:” a businessman who collects hundreds of millions of dollars a year and yet accumulates chronic losses that he uses aggressively to avoid paying taxes “.
Information given by Trump to the taxman, which is not the results of an independent financial review, reports that he “owns hundreds of millions of dollars in valuable assets, but does not reveal his true wealth. Nor does it reveal previously unreported connections to Russia.” . The data, continues the newspaper, “show that it increasingly depends on making money from companies that put it in potential and often direct conflict of interest with his job as president“.
This is precisely the reason for the publication of the report, explained the executive director of NYTimes, Dean Baquet: “We believe that citizens they should know their leaders as much as possible and representatives, their priorities, their experiences and even their finances. Every president since the mid-1970s has made his tax records public. Tradition ensures that a representative with the power to shake markets and change policy does not seek to financially benefit from his actions. Trump, one of the richest presidents in the nation’s history, broke with this practice. ”