President Donald Trump has been dogged by claims of avoiding paying income taxes since entering the White House in 2017 and has repeatedly dodged further inquiry by the threads of his combover. However, a new report from the New York Times reveals that the former business mogul paid just $750 in taxes during the year he won the presidential election, and only paid taxes five times between 2000 and 2016.
The Times obtained tax return information from Trump dating back to 15 years prior to 2016 and combed through the information as the publication is known to do for investigative pieces. What was unveiled is that Trump has not only paid taxes on his earnings, he’s also under audit for receiving a hefty tax refund that has him under an IRS audit that has been raging for the past decade.
From the Times:
Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.
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.
As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.
Reaction to the news on Twitter has both sides taking digs, with the president and his supporters decrying the report as fake news while the other side has skillfully blasted the hypocrisy of the matter. Further, given that the presidential election is nearly upon voters, the timing of this story could have an impact on Trump’s reelection efforts.
Check out the Twitter reactions to President Donald Trump’s tax returns below.
President Donald Trump Only Paid $750 In Taxes In 2016 was originally published on hiphopwired.com
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