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Home » Report: Trump Only Paid $750 In Taxes For 2016 And 2017

Report: Trump Only Paid $750 In Taxes For 2016 And 2017


President Donald Trump paid only $750 in federal income taxes for the years 2016 and 2017, as he successfully ran his 2016 campaign for president and began his first term as president of the United States, according to tax records obtained by The New York Times, revealed Sunday in a report that claims Trump spent years avoiding paying any federal income taxes because he lost more money than he made.

Key Facts

Before 2016, Trump did not pay any income taxes at all in 10 of the previous 15 years, according to The New York Times.

The New York Times claims it has obtained tax data dating back almost two decades and covering hundreds of companies that make up the president’s business empire.

According to The New York Times, most of Trump’s “core enterprises,” like his golf courses, report losing millions and sometimes tens of millions of dollars a year.

Since 2000, Trump has reported $315.6 million in losses from his golf courses, while his Washington hotel reported over $55 million in losses through 2018, according to the records, just two years after the hotel had opened.

Trump denied the information in the report during a news conference Sunday.

The collection of records do not show any previously unknown financial ties to Russia or its president, Vladimir Putin, nor does it reveal any more information about a $130,000 non-disclosure agreement payment to pornographic actress Stormy Daniels, with whom Trump allegedly had an affair, with the payment being the focus of the Manhattan district attorney’s probe into Trump’s tax history.

Big Number

$72.9 million. That’s how much the government paid Trump in a tax return, which gave back all of the federal income tax he’d paid from 2005 to 2008, along with interest.

Chief Critic

Alan Garten, an attorney for the Trump Organization, counteracted The New York Times’ claims, saying in a statement that “most, if not all, of the facts appear to be inaccurate,” claiming the Trump has paid millions to the federal government in “personal taxes,” which may refer to taxes like Social Security and Medicare taxes—not income tax.

This is a developing story. Check back for updates.

Source: Forbes – Business

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