Trump paid no income taxes in 10 of last 15 years - New York Times

[webfact]

Trump paid no income taxes in 10 of last 15 years - New York Times

By Pete Schroeder

 

FILE PHOTO: U.S President Donald Trump holds an event to announce his nominee of U.S. Court of Appeals for the Seventh Circuit Judge Amy Coney Barrett to fill the Supreme Court seat left vacant by the death of Justice Ruth Bader Ginsburg, who died on September 18, at the White House in Washington, U.S., September 26, 2020. REUTERS/Carlos Barria

 

WASHINGTON (Reuters) - President Donald Trump paid extremely little in income taxes in recent years as heavy losses from his business enterprises offset hundreds of millions of dollars in income, the New York Times reported on Sunday, citing tax-return data.

 

The Times reported that Trump, who is seeking re-election in November, paid just $750 (588.47 pounds) in federal income taxes in both 2016 and 2017, and paid no income taxes in 10 of the last 15 years, despite receiving $427.4 million through 2018 from his reality television program and other endorsement and licensing deals.

 

Trump was able to minimize his tax bill by reporting heavy losses across his business empire. The Times reported Trump claimed $47.4 million in losses in 2018, despite claiming income of at least $434.9 million in a financial disclosure that year.

 

Trump denied the report on Sunday, calling it "total fake news" at a White House news conference. In a statement to the Times, Alan Garten, a lawyer for the Trump Organization, said Trump had paid millions of dollars in personal taxes over the last decade, without weighing in on the specific income tax finding.

 

Trump has consistently refused to release his taxes, departing from standard practice for presidential candidates, saying they are under audit.

 

The Times said it had obtained tax-return data covering over two decades for Trump and companies within his business organization. It did not have information about his personal returns from 2018 or 2019.

 

The Times also reported that Trump is currently embroiled in a decade-long Internal Revenue Service audit over a $72.9 million tax refund he claimed after declaring large losses. If the IRS rules against him in that audit, he could have to pay over $100 million, according to the newspaper.

 

(Reporting by Pete Schroeder; Editing by Daniel Wallis and Peter Cooney)

 

-- © Copyright Reuters 2020-09-28

 

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[Jack Mountain]

Kudoos!

[Tounge Thaied]

As it should be... If anyone is being honest with themselves, if they could, they wouldn't pay any taxes either. 

[ukrules]

Genius....stable....consistent.

[stevenl]

Much information on the losses his company is making as well, plus details on the illegal reimbursements of 'a member of the family', matching ivanka's WH declarations. Also his personal being liable for debts expiring soon.

Edited September 27, 2020 by stevenl

[stevenl]

6 minutes ago, Tounge Thaied said:

As it should be... If anyone is being honest with themselves, if they could, they wouldn't pay any taxes either. 

There is much more in the article. Read and weep (or more likely don't read and deflect).

[Henryford]

Does it matter? I presume that whatever tax he pays is legal. No different to many rich people/organisations who pay little/no tax cough Apple.

[Tug]

That’s our Donald he’s on top of the welfare food chain we pay to fly the troll around to spread covid at his rallies fly him around to play golf and he doesent pay taxes tired of winning yet folks?trump isent as he rips us off and provides even more tax breaks for the wealthy at our expense time to ditch this grifter 

[Thailand]

Can't remember the last time I paid income tax,30 plus years ago perhaps. Easy to do if you have no money.

[Somtamnication]

Hope no one is surprised!

[Tippaporn]

It will be once again humourous to see all the posters come out and uncritically treat this news as "truth."  Is this another hit piece in the vein of Trump calling vets losers and suckers or the Russians paying the Taliban a bounty to kill U.S. troops?  Seems all of these unfounded accusations experience shorter and shorter shelf lives.

 

Let's see how long the "veracity" of this hit piece lasts.

[jimmybcool]

What I find fascinating is this concern over his tax returns.  I really don't care.  If the IRS thinks they are correct and he is paying his legally obligated taxes good enough for me.  I do know the left wants to see them so they can (as usual) twist them to indicate something nefarious.  And the average human won't have a chance in hell of comprehending tax returns at that level.

 

Better still I would like to know how so many people in congress enter service poor and end up rich on congressional/senate pay.  How bout some investigation into that? 

[Chomper Higgot]

1 minute ago, Tippaporn said:

It will be once again humourous to see all the posters come out and uncritically treat this news as "truth."  Is this another hit piece in the vein of Trump calling vets losers and suckers or the Russians paying the Taliban a bounty to kill U.S. troops?  Seems all of these unfounded accusations experience shorter and shorter shelf lives.

 

Let's see how long the "veracity" of this hit piece lasts.

Fortunately we have your posting record to refer to.

 

The only ‘truth’ you’ll ever listen to is the constant stream of lies pouring out of the mouth of your your leader.

 

 

[plentyofnuttin]

16 minutes ago, Henryford said:

Does it matter? I presume that whatever tax he pays is legal. No different to many rich people/organisations who pay little/no tax cough Apple.

It matters to voters. Especially given the fact that there are 2 main reasons why he pays no taxes. The first is that he's been losing massive amounts of money for those years. The second is that he's taken obviously illegitimate deductions to justify not paying taxes.

As for corporations paying little or no taxes, how does Trump's tax bill figure into that?

[Yinn]

Not pay tax.

Refuse army because he have spurs.

Cheat his pregnant wife with sex workers.

Grab woman on the .....

Covid loon.

Lie everyday. 

 

= Good citizen.

 

Millions vote for him.

Amazing USA.

[plentyofnuttin]

6 minutes ago, jimmybcool said:

What I find fascinating is this concern over his tax returns.  I really don't care.  If the IRS thinks they are correct and he is paying his legally obligated taxes good enough for me.  I do know the left wants to see them so they can (as usual) twist them to indicate something nefarious.  And the average human won't have a chance in hell of comprehending tax returns at that level.

 

Better still I would like to know how so many people in congress enter service poor and end up rich on congressional/senate pay.  How bout some investigation into that? 

The IRS doesn't think all his deductions are legitimate. That's why they are still being audited.

As for your charge about members of congress, got any specific names and specific evidence to back up your claim? Yours is a particularly poor example of a deflection.

[4reaL]

21 minutes ago, Henryford said:

Does it matter? I presume that whatever tax he pays is legal. No different to many rich people/organisations who pay little/no tax cough Apple.

 

Amazon did not pay a dime either.

 

[rupert the bear]

unfortunately its true and also legal,ask amazon facebook etc theres a face off over the atlantic over these tax payments.if its egal you must ask why the NY times is making a story about it as they dont when it comes to gates and co thats from the other side of the atlantic and paris in particular,irelands keeping well quiet on that one.its always the same ,the rich get richer and the poor get the picture

[Chomper Higgot]

2 minutes ago, jimmybcool said:

What I find fascinating is this concern over his tax returns.  I really don't care.  If the IRS thinks they are correct and he is paying his legally obligated taxes good enough for me.  I do know the left wants to see them so they can (as usual) twist them to indicate something nefarious.  And the average human won't have a chance in hell of comprehending tax returns at that level.

 

Better still I would like to know how so many people in congress enter service poor and end up rich on congressional/senate pay.  How bout some investigation into that? 

As the OP clearly states, the IRS are already seeking payment of underpaid taxes.

 

There are also a handful of other problems for Trump.

 

1. It’s not too difficult for people who might be interested to trawl through Trump’s tax returns and compare them to reality.

 

2. If Trump is claiming losses on his tax returns, what is he declaring on his loan applications?

 

3. His tax returns expose the lie of him being a Billionaire.

 

4. The optics of a candidate not paying taxes.

 

 

[plentyofnuttin]

23 minutes ago, Tippaporn said:

It will be once again humourous to see all the posters come out and uncritically treat this news as "truth."  Is this another hit piece in the vein of Trump calling vets losers and suckers or the Russians paying the Taliban a bounty to kill U.S. troops?  Seems all of these unfounded accusations experience shorter and shorter shelf lives.

 

Let's see how long the "veracity" of this hit piece lasts.

Well, we already have a good indication of its veracity given the non-denial denial coming from his lawyer who said that Trump has paid millions in "personal taxes". You'll note that he didn't say 'income taxes.'

Edited September 28, 2020 by plentyofnuttin

[simple1]

26 minutes ago, Henryford said:

Does it matter? I presume that whatever tax he pays is legal. No different to many rich people/organisations who pay little/no tax cough Apple.

Yes, it does matter. trump always boasts what an outstanding patriot and 'winner' he is, in reality he's been a loser for years feeding off the US taxpayer, employing undocumented workers, outsourcing supplies to China and so on; a liar and hypocrite extraordinaire. Undoubtedly the report will have very minimal, if any, effect on his worshipers, but very possible will move the undecided to vote for Biden. 

Edited September 28, 2020 by simple1

[OneMoreFarang]

36 minutes ago, Tounge Thaied said:

As it should be... If anyone is being honest with themselves, if they could, they wouldn't pay any taxes either. 

And who is supposed to pay for all the things which everybody uses? Where is that tax money supposed to come from? The others?

 

And there is a difference between a private individual and a politician who is supposed to work for the people and who is paid from tax money and who spends tax money - in Trump's case obviously other peoples' money.

[plentyofnuttin]

8 minutes ago, rupert the bear said:

unfortunately its true and also legal,ask amazon facebook etc theres a face off over the atlantic over these tax payments.if its egal you must ask why the NY times is making a story about it as they dont when it comes to gates and co thats from the other side of the atlantic and paris in particular,irelands keeping well quiet on that one.its always the same ,the rich get richer and the poor get the picture

What do you mean the times hasn't made a story about the avoidance of taxes by corporations and the wealthy? There have been plenty. And the story about Trump is noteworthy not just because he avoided taxes but one of the 2 underlying reasons for it: he's a terrible businessman. If it hadn't been for The Apprentice, he'd have been sunk long ago.

[OneMoreFarang]

By now I think those rednecks deserve him. They are struggling and paying taxes so that dear leader can play golf paid by all those people who think he is a great president. They deserve him.

 

[Chomper Higgot]

41 minutes ago, Tounge Thaied said:

As it should be... If anyone is being honest with themselves, if they could, they wouldn't pay any taxes either. 

I pay my taxes, beyond a legal and civic duty I regard it a privilege.

 

I’m very lucky, I earn enough to meet my own needs and enough to pay my dues.

[Scott]

Off-topic troll post reported and removed. 

 

[shdmn]

He also supposedly got a $70,000 deduction for hair styling.  For something that looks like cotton candy made from pee.

Edited September 28, 2020 by shdmn

[OneMoreFarang]

12 minutes ago, rupert the bear said:

unfortunately its true and also legal,ask amazon facebook etc theres a face off over the atlantic over these tax payments.if its egal you must ask why the NY times is making a story about it as they dont when it comes to gates and co thats from the other side of the atlantic and paris in particular,irelands keeping well quiet on that one.its always the same ,the rich get richer and the poor get the picture

Gates? Bill Gates, the guy who gave away more than half of his money to charity? Before you post next time maybe check the facts.

[Chomper Higgot]

NY prosecutors already have Trump’s banking records, including loan applications.

 

They can now check to see if Trump’s declared income in his tax returns is the same as that on his loan applications.

 

Declaring false incomes on either document is a felony.

 

 

Edited September 28, 2020 by Chomper Higgot

[Opl]

So, the GOP electoral platform is all about keeping Trump financially afloat for the next 4 years, maybe more if "negociation"- at least it's clearly what Trump followers vote for.  

 

Edited September 28, 2020 by Opl