•   
  •   
  •   

Politics Trump defends tax practices while bashing New York Times report

19:06  28 september  2020
19:06  28 september  2020 Source:   thehill.com

Trump denies New York Times report detailing his tax returns and financial problems: 'It's totally fake news'

  Trump denies New York Times report detailing his tax returns and financial problems: 'It's totally fake news' The Times reported that Trump paid only $750 in federal income tax in 2016 and 2017, but shelled out $70,000 on hair styling during "The Apprentice.""It's totally fake news. Made up, fake," Trump said. "Actually, I paid tax.

Donald Trump looking at the camera: Trump defends tax practices while bashing New York Times report © Joshua Roberts/Getty Images Trump defends tax practices while bashing New York Times report

President Trump on Monday defended his tax and business practices in the face of a bombshell New York Times investigation that found he paid just $750 in federal income tax in 2016 and 2017, respectively, and used questionable tactics to lower his tax bill.

Trump bashed the media over the report, but did not refute any specific part of The Times' findings.

Battleground voters not buying Trump's tough talk on China, new poll shows

  Battleground voters not buying Trump's tough talk on China, new poll shows Voters in 12 battleground states see pandemics as a bigger concern than China, a new survey shows.Terrorism — long top of mind in the years after the attacks of Sept. 11, 2001 — has faded as a predominant concern. It has been usurped by worry about global pandemics, according to a survey by Democratic pollster Geoff Garin of voters in 12 states most likely to determine control of the White House and the Senate.

"The Fake News Media, just like Election time 2016, is bringing up my Taxes & all sorts of other nonsense with illegally obtained information & only bad intent," Trump tweeted.

"I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits," he continued. "Also, if you look at the extraordinary assets owned by me, which the Fake News hasn't, I am extremely under leveraged - I have very little debt compared to the value of assets."

Trump added that he has long said he may release financial statements, which he called "very IMPRESSIVE," and noted that he has donated his salary while in office. But financial statements only provide part of a picture of a politician's wealth and tax history.

Trump broke with decades of precedent in 2016 when he declined to release his tax returns to the public while running for office. He has not done so since taking office, citing an ongoing audit, though experts say an audit shouldn't preclude him from releasing the information.

The economy, Covid-19 and racial inequality are voters' top concerns ahead of the first Trump-Biden debate

  The economy, Covid-19 and racial inequality are voters' top concerns ahead of the first Trump-Biden debate Voters in swing states want President Trump and Joe Biden to use their first debate to offer clear answers on how they plan to improve the economy, while battling Covid-19 and racial inequality. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); Some of these voters, who spoke to CNBC ahead of Tuesday's debate, said the coronavirus has affected their lives and livelihood in a variety of ways, from new health-care guidelines to layoffs. The debate on Tuesday will be the first of three between the two men.

But information about his taxes has leaked out throughout his first term, with the most significant instance being Sunday's sprawling report from The New York Times, which obtained more than two decades of Trump's tax returns.

The report found that Trump paid no income taxes in 10 of 15 years before he was elected president in 2016 and that he is battling the IRS over the legitimacy of a $72.9 million tax return he obtained after declaring major losses.

The president paid $750 in 2016 and 2017, respectively, the two most recent years The Times reviewed. Trump lowered his tax bill in part by leveraging business losses to avoid paying taxes on "Celebrity Apprentice" income and by writing off significant charges as business expenses, including "consulting fees" that appeared to be directed to his daughter and senior adviser, Ivanka Trump.

The reporting also found that while the presidency has aided certain parts of Trump's business, he is still dealing with significant losses and has a number of sizable loans coming due in the next few years.

The president, appearing at a White House news briefing shortly after the New York Times published its investigation, dismissed the findings as "fake news" and accused the Times of wanting "to create a little bit of a story" before the election.

The report is likely to loom over the first presidential debate on Tuesday. Trump, in a sign he is not eager to discuss his taxes, tweeted moments after responding to the report about Democratic nominee Joe Biden.

"Joe Biden just announced that he will not agree to a Drug Test. Gee, I wonder why?" Trump tweeted.

Democrat Joe Biden tests negative for coronavirus after President Trump reports positive test .
Democrat Joe Biden has tested negative for coronavirus, his doctor announced Friday, hours after President Donald Trump announced a positive testDr. Kevin O'Connor, the primary care physician, said Biden and his wife Jill were each tested and "COVID-19 was not detected.

—   Share news in the SOC. Networks
usr: 3
This is interesting!