Paid millions: Trump after report claims he paid $750 in taxes for 2016, 2017
US president Donald Trump on Tuesday said he has paid millions in taxes day after a report claimed he paid only $750 in federal income tax for 2017, his first year in the White House.
During the first presidential debate ahead of US elections slated for November 3, moderator Christopher W Wallace asked Trump, “Is it true that you paid $750 in federal income taxes in 2016 and 2017?”
Trump didn’t answer directly and said he paid millions of dollars in taxes while former Vice President and Democratic presidential candidate Joe Biden interjected saying, “Show us your tax returns.”
“I paid $38 million one year, I paid $27 million one year,” the US president said, without specifying which years.
The New York Times reported that the US president paid only $750 in federal income tax for 2017, his first year in the White House, compared to $145,400 his businesses paid in taxes in India that year.
In 2016 too, the year he ran for president and won, the report claims Trump paid $750. That was still way more than what he had paid the previous years. “He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made,” the report said.
Trump, however, dismissed claims in the report as “fake news”.
Hours before the debate, Biden released his tax returns for the last four years. The former vice president and his wife Jill Biden, an educator, paid $299,346 in federal income taxes for 2019, according to forms filed with the Internal Revenue Service and released by Biden’s campaign.
(With inputs from agencies)
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