In an explosive report out of the New York Times, sources reveal Donald Trump has not paid a single cent in federal income taxes in 10 out of 15 years since the year 2000.
Just when you thought Donald Trump could stoop no lower, the president has been outed in a ground-breaking report by the New York Times, exposing that he has failed to pay any federal income taxes whatsoever in 10 out of 15 years since the turn of the century.
The report revealed that in years he did pay tax – for instance, the year of his election in 2016 and the following year in the White House – the president’s tax bill was a mere $750 USD.
The news comes despite Trump’s whole schtick being about how tax in America is too high and how, through his presidency, he has slashed back tax billings that economists reckon mostly help out the elites and big businesses rather than the general American populace.
The Times noted that former Presidents Barack Obama and George W Bush paid “more than $100,000 a year” in federal income tax. In 2017, after Trump became president, he only clocked a $750 tax bill.
The report investigates the ongoing IRS audit Trump has been fighting since 2011. The IRS is a government agency responsible for pursuing instances of fraudulent or erroneous tax lodges. The case questions the legitimacy of a received a $72.9 million tax refund from the IRS despite failing to pay a cent.
While Trump has been trying to keep the whole thing under wraps, the Times reported: “Almost a decade later, the case remains unresolved, for unknown reasons, and could ultimately end up in federal court, where it could become a matter of public record.”
Allegedly, the false reports saw Trump lodge files that detailed a significantly lower income than what he actually made through his various business feats.
At a White House conference on Sunday, Trump denied the New York Times story, saying he paid “a lot” of federal income taxes: “I pay a lot, and I pay a lot in state income taxes.” The president said he would reveal his tax return documents after the audit with the IRS was completed.
However, this raises some red flags as the president is under no obligation to hold his tax returns while under audit and yet has continued to use this excuse for years.
In 2016, Trump’s tax attorneys released a letter that detailed he was under audit, revealing that the IRS had completed reviewing his tax lodges from 2002 through 2008. Still, Trump did not release his returns from those years, even though the audits were over.
Since the report leaked to the public, many have been quick to point out the irony of the situation. Former candidate for president in 2020, US Senator Bernie Sanders pointed out the false narrative of a “self-proclaimed billionaire” receiving millions of tax dollars refunded from the IRS despite failing to pay taxes.
Shock of shocks! Donald Trump, the self-proclaimed billionaire, received a $72.9 million tax refund from the IRS while not paying a nickel in federal income taxes in 10 out of 15 years.
Yep. Trump l-o-v-e-s corporate socialism for himself, rugged capitalism for everyone else.
— Bernie Sanders (@BernieSanders) September 27, 2020
In general, Twitter has been quick to criticise the president over the reports:
Next time you see a homeless person, consider for a moment that they may have ended up on the streets for the lack of a smaller sum of money than “billionaire” Donald Trump pays in taxes.
Nurses. Teachers. DoorDashers. Street sweepers.
All contributing more than Trump.
— Michael Marshall Smith (@ememess) September 28, 2020
Looking forward to all the vulnerable Republican Senators making excuses for Trump’s failure to pay taxes. Please go out and defend him and his potential fraud. Please do it.
— Wajahat “Wears a Mask Because of a Pandemic” Ali (@WajahatAli) September 28, 2020
Trump is a freeloader that does not pay taxes. You would think that his supporters would hate that.
— Secret Agent Number Six (@DesignationSix) September 28, 2020
The New York Times said it will not make Trump’s tax-return data public so as not to jeopardize its sources, “who have taken enormous personal risks to help inform the public.”
What’s more, the tax-return data obtained by the newspaper does not include his personal returns for 2018 or 2019.
Basically, for a dude who claims he knows business to be taking millions from public funding to put into his private golf courses – the whole thing’s more than a bit suss.
