Trump Taxes: He Paid More Tax To Foreign Governments Than To The US, NY Times Claims—A current investigation into the tax payment history of US President Donald Trump disclosed that he paid no federal tax for 10 of the past 15 years, and just $750 in federal taxes in 2016 and 2017, the New York Times reported on Sunday, a claim which Trump vehemently opposes.
According to The Times, their information was “provided by sources with legal access to it” and shows “chronic losses and years of tax avoidance”.
On the claims against him just days before his first presidential debate with Democratic rival Joe Biden and weeks before the 3 November election, Trump had this to say:
“Actually I paid tax. And you’ll see that as soon as my tax returns – it’s under audit, they’ve been under audit for a long time,” he told reporters after the story was published on Sunday.
“The IRS [Internal Revenue Service] does not treat me well… they treat me very badly,” he said.
Recall that Mr Trump has faced legal challenges for refusing to share documents concerning his fortune and business. He is the first president since the 1970s not to make his tax returns public, though this is not required by law.
Trump has been reported to have paid more taxes to foreign governments than the U.S. in 2017. With tax payments of $15,598 that he or his companies paid to Panama, $145,400 to India and $156,824 to the Philippines.
Trump in 2016 said avoiding paying taxes “makes me smart,” the returns show little accounting wizardry, instead ” showing that he is simply pouring more money into many businesses than he is taking out,” the Times said, with most of his core U.S. properties losing millions or even tens of millions of dollars a year.