The New York Times has President Donald Trump’s taxes and they’re exactly what biographers and experts have been claiming for years.
Documents show Trump only paid $750 in federal income taxes in 2016, despite being a self-described billionaire
He also only turned over $750 to the IRS after his first year in the White House.
To make matters worse, Trump hasn’t paid any income tax in 10 of the past 15 years because he claims that he’s losing far more money than he actually makes.
For someone who ran as a “businessman” who wanted to run the government like a business, it doesn’t seem like the best message.
“The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public,” said the Times. “His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.”
There are two-decades of data for Trump, as well as the hundreds of companies — from resorts to wineries and golf courses.
The Trump Organization’s lawyer claims it is all fake news.
“Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Alan Garten said in a statement.
The Times revealed that public filings show a very distorted picture of the president’s finances than what he’s claimed in the past.
“In 2018, for example, Mr. Trump announced in his disclosure that he had made at least $434.9 million. The tax records deliver a very different portrait of his bottom line: $47.4 million in losses,” the report also said.