Washington D.C, United States — US President, Donald Trump has paid no federal income taxes for 10 out of 15 years since 2000, according to the New York Times.
As a reason for his failure in paying income taxes, Trump had reported that he had lost significantly more than he earned over the years.
According to the explosive report revealed by the New York Timeson Sunday, Trump had paid only $750 as income tax during both the year he won the presidency and his first year in the White House.
The Times report further revealed detailed payments obtained from over two decades of tax information which shows extensive financial losses and several years of tax avoidance by the business-tycoon, Trump.
However, during a White House briefing on Sunday, Trump refused to accept the report revealed by New York Times and claimed that infact, he pays “a lot” in federal income taxes.
“I pay a lot, and I pay a lot in state income taxes,” Trump stated.
Although the President of US is not obligated to hold his tax returns while under audit, he stated that he is willing to release his tax returns once he is no longer under audit by the Internal Revenue Service, which he claimed was treating him badly.
In the briefing, Trump further refused to answer the amount he paid in federal taxes and walked out, despite having reporters repeatedly shouting questions.
In short, the extensive Times report reveals the story of a businessman who was struggling to keep his businesses afloat along with reporting millions in losses, although he was campaigning for President of the US while boasting about his financial success.
A letter sent in response to the Times report, by Trump Organization lawyer, Alan Garten states that “most, if not all, of the facts appear to be inaccurate.” He further requested to see documents regarding the reports.
The New York Times disclosed that they will not be making the tax return data of Trump public as they do not wish to jeopardize its sources, “who have taken enormous personal risks to help inform the public.”