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After New York Times revelations, Trump says he paid millions in taxes

PoliticsSep 28, 2020 03:36PM ET
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2/2 © Reuters. U.S. President Trump speaks to reporters during a news conference 2/2

WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday he paid "many millions of dollars in taxes" and that he had many more assets than debt, but did not provide evidence or promise to release any financial statements before the Nov. 3 election.

In a series of Twitter posts, the Republican president responded to a New York Times report that he paid just $750 in federal income taxes in both 2016 and 2017, after years of reporting heavy losses from his business enterprises.

"I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits," he wrote. "I am extremely under leveraged - I have very little debt compared to the value of assets."

The Republican president, who will face Democratic rival Joe Biden on Tuesday night for their first presidential debate, said he had "extraordinary assets" and boasted a "very IMPRESSIVE" financial statement.

Trump has hundreds of millions of dollars in debt amid chronic business losses that he uses to avoid paying taxes, the Times reported. It said it has obtained tax-return data covering more than two decades for Trump and his businesses.

Trump's reported debts raise national security issues, U.S. House of Representatives Speaker Nancy Pelosi said, as the public deserves to know to whom he owes money because it could be used as leverage against him. "To me this is a national security question," she told MSNBC.

Trump departed from decades of tradition among presidents and presidential candidates when he refused to release his federal income tax returns the first time he ran for president in 2016.

He says it is because he is under audit by the Internal Revenue Service but the agency has said there is no reason he cannot release his taxes while under audit.

After New York Times revelations, Trump says he paid millions in taxes
 

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Comments (15)
Jason Zou
Jason Zou Sep 28, 2020 11:35PM ET
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A liar caught lying must keep lying on top of lies, until nobody listens to the liar anymore.
Marco cuevas
Marco cuevas Sep 28, 2020 6:27PM ET
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He paid millions to the phillipines and India in taxes US not so  much...any surprises here?
Pres Biden
Pres Biden Sep 28, 2020 4:03PM ET
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eddi-ot glass needs to purchase a freight train worth of tissues.. he'll be crying sooo hard because I'm definitely going to LOCK TRUMP UP!!
Chris Poulos
Chris Poulos Sep 28, 2020 4:03PM ET
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lock trump up!!
Michael Natan
Michael Natan Sep 28, 2020 4:03PM ET
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Lets first lock up Hillary! What she got away with was ridiculous. If you or I did what she did, we would be hung for treason!
Thom Miller
Thom Miller Sep 28, 2020 3:55PM ET
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See
Pres Biden
Pres Biden Sep 28, 2020 3:42PM ET
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I'm going to LOCK TRUMP UP
Chris Marshall
Chris Marshall Sep 28, 2020 3:42PM ET
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For thought crime?
Thom Miller
Thom Miller Sep 28, 2020 3:08PM ET
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See Stefon Sauerwein and Eddie Glass’s below comments calling me a “commie.” If I’m a commie, they’re both anti-semites....
Mark Manley
Mark Manley Sep 28, 2020 2:23PM ET
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I couldn't care less about Trump's bottom line, I only care about mine, and mine has tripled under Trump, all of you scared little libs, I'm happy to buy all of your positions so you can all join a commune and console each other while conservatives drive this economy forward
tonald drump
tonald drump Sep 28, 2020 2:23PM ET
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So using your own logic, you should send Obama/Biden a thank you card for when they pulled us out of the Great Recession and created the environment that allowed the market to triple since then.
Thom Miller
Thom Miller Sep 28, 2020 2:23PM ET
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Mine was up 5-fold under Obama and 6-fold under Clinton. I’m curious, Mark. What was your hourly wage under Trump?
Hunter Gassaway
Hunter Gassaway Sep 28, 2020 2:23PM ET
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" How much for the little girl?!"
Peter Dikeakos
Peter Dikeakos Sep 28, 2020 2:06PM ET
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Who's The Worst?.....Why Not Third Viable Party?
tonald drump
tonald drump Sep 28, 2020 2:06PM ET
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Third party = zero chance. If you still one of the precious undecided voters given these current events you shouldn't vote or make any other decisions involving critical thinking. you might hurt yourself. Stay home.
Paul Dunne
Paul Dunne Sep 28, 2020 1:59PM ET
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Here's an article about the tax Amazon paid: Did you like it?
Jack Zhang
Jack_A Sep 28, 2020 1:59PM ET
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Check here https://ir.aboutamazon.com/news-release/news-release-details/2020/Amazon.com-Announces-Second-Quarter-Results/, Amazon paid $1.73Billion income tax for the first half of 2020.
tonald drump
tonald drump Sep 28, 2020 1:59PM ET
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How does this relate to your lawless leader?
Paul Dunne
Paul Dunne Sep 28, 2020 1:57PM ET
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Who cares? Make the stock market great again! We don't care about your policies or your sins. Trump 2020, 2024, 2028,...
Me comment
Me comment Sep 28, 2020 1:57PM ET
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You related to eddie, same uneducated ranting.
Rodrigo Chavez
Rodrigo Chavez Sep 28, 2020 1:57PM ET
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okay then let's loot the shops since no one cares about the sins or policies.
Jack Zhang
Jack_A Sep 28, 2020 12:59PM ET
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He also said: "Mexico paid the wall", "China paid the tariffs", "the virus is hoax", etc.
Jack Zhang
Jack_A Sep 28, 2020 12:59PM ET
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eddie glass @ I love God. God bless you, buddy.
king michael
king michael Sep 28, 2020 12:51PM ET
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This election is more about ideology than anything else. Economy, ethics ...and those died of COVID19 are all nonsense to Trump and his supporters.  That is why majority of well educated middle class and the high tech business owners don't like Trump. Biden is sleepy and less functioning. But he is pretty much harmless to this country.
ET Elliott
ET Elliott Sep 28, 2020 12:51PM ET
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She’s not
Thom Miller
Thom Miller Sep 28, 2020 12:42PM ET
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Fox News is reporting the following: “President Trump’s former campaign manager Brad Parscale was taken to a Florida hospital on Sunday by police after a brief but tense stand-off in which he barricaded himself in his home with firearms and threatened to harm himself, officials said.” This is just one more example of Trump hiring only the very best people.
king michael
king michael Sep 28, 2020 12:16PM ET
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Decency and honest to Americans and American legislation are required ethics to be US president.
Andrew carson
Andrew carson Sep 28, 2020 12:16PM ET
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Do your saying Biden has no chance?
Andrew carson
Andrew carson Sep 28, 2020 12:16PM ET
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you're
Clinton Powell
Clinton Powell Sep 28, 2020 12:16PM ET
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Obama and B Clinton, yea sure they had a high ethical standard
Kaveh Sun
Kaveh Sun Sep 28, 2020 11:17AM ET
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All rich avoid paying tax, not just him. Trump is not fiscal conservative, he is spending money just like a lib.
Jack Zhang
Jack_A Sep 28, 2020 11:17AM ET
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I agree with you that Trump is not the only one robbing the USA, but being one of a bad group doesn't prove that he is a good guy. Think about how much tax a ordinary US people pay each year! This is insane.
 
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