After New York Times revelations, Trump says he paid millions in taxes

[webfact]

After New York Times revelations, Trump says he paid millions in taxes

 

U.S. President Donald Trump arrives to inspect the Lordstown Motors 2021 endurance truck, an electric pickup truck, on the South Lawn at the White House in Washington, U.S., September 28, 2020. REUTERS/Carlos Barria

 

WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday he paid "many millions of dollars in taxes" and that he had many more assets than debt, but did not provide evidence or promise to release any financial statements before the Nov. 3 election.

 

In a series of Twitter posts, the Republican president responded to a New York Times report that he paid just $750 in federal income taxes in both 2016 and 2017, after years of reporting heavy losses from his business enterprises.

 

"I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits," he wrote. "I am extremely under leveraged - I have very little debt compared to the value of assets."

 

The Republican president, who will face Democratic rival Joe Biden on Tuesday night for their first presidential debate, said he had "extraordinary assets" and boasted a "very IMPRESSIVE" financial statement.

 

Trump has hundreds of millions of dollars in debt amid chronic business losses that he uses to avoid paying taxes, the Times reported. It said it has obtained tax-return data covering more than two decades for Trump and his businesses.

 

Trump's reported debts raise national security issues, U.S. House of Representatives Speaker Nancy Pelosi said, as the public deserves to know to whom he owes money because it could be used as leverage against him. "To me this is a national security question," she told MSNBC.

 

Trump departed from decades of tradition among presidents and presidential candidates when he refused to release his federal income tax returns the first time he ran for president in 2016.

 

He says it is because he is under audit by the Internal Revenue Service but the agency has said there is no reason he cannot release his taxes while under audit.

 

(Reporting by Doina Chiacu, Susan Heavey, Lisa Lambert; Editing by Franklin Paul and Alistair Bell)

 

-- © Copyright Reuters 2020-09-29

 

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[oompie69]

"Trump departed from decades of tradition among presidents and presidential candidates when he refused to release his federal income tax returns the first time he ran for president in 2016"

Because he knew he did not have a chance in hell of getting the nod from the Republican Electoral College

had they been privy to this information.  Or did they know?

If he paid so little tax how did he live the life he did? Or did he live on "grants" that do not attract income tax? Somebody must have been picking up his tabs, for sure.

[Matzzon]

1 hour ago, webfact said:

I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits," he wrote.

That´s great Mr. Trump! On your own, you just created another reason for not hiding your statements. 

This man is so dumb, that he do not understand when he shoots himself in the foot. Guess it doesn´t hurt either. 

[Matzzon]

18 minutes ago, oompie69 said:

Somebody must have been picking up his tabs, for sure.

Putin?

[oompie69]

6 minutes ago, Matzzon said:

Putin?

More likely, quid pro quo with all the lobbyists that actually run the USA.

[LomSak27]

38 minutes ago, webfact said:

U.S. President Donald Trump said on Monday he paid "many millions of dollars in taxes" and that he had many more assets than debt, but did not provide evidence or promise to release any financial statements before the Nov. 3 election.

 You know it was bad if you gauged FOX News's reaction. Yesterday after the story broke, the internet site had him up denying, at the top of the page. but within 4 hours they thought better of it and had buried it. You had to scroll way down to the bottom to find anything at all about the New York Times article. Instead their header was test Biden for drugs before the debate pucky. Hah

 

Today it is in small print below the main stories and President Trump now says he is  entitled to tax credits like anyone else. Looks like yesterdays screams & bellowing about Fake News has given way to ... yeah, suure it's true ... BUT  

 

Twenty four hours later, Admission. Bam.

[Tippaporn]

1 hour ago, webfact said:

Trump's reported debts raise national security issues, U.S. House of Representatives Speaker Nancy Pelosi said, as the public deserves to know to whom he owes money because it could be used as leverage against him. "To me this is a national security question," she told MSNBC.

By what stretch of the imagination does a president's debt equate to national security issues?  The absurdity does not go unnoticed.

[Somtamnication]

Trump said the NY Times article is fake news then said it obtained the info illegally. Make up your mind, you cannot have it both ways.

[Tippaporn]

26 minutes ago, Matzzon said:

47 minutes ago, oompie69 said:

Somebody must have been picking up his tabs, for sure.

Putin?

I thought posting false information was not allowed on TVF?

[Tug]

1 minute ago, Tippaporn said:

By what stretch of the imagination does a president's debt equate to national security issues?  The absurdity does not go unnoticed.

Ahhhh really????suppose he owes a enemy of America the money and he’s broke hummmm a bit of horse trading perhaps the absurdity of not seeing this simple thing definitely gets noticed lol

[Tippaporn]

Just now, Tug said:

4 minutes ago, Tippaporn said:

By what stretch of the imagination does a president's debt equate to national security issues?  The absurdity does not go unnoticed.

Ahhhh really????suppose he owes a enemy of America the money and he’s broke hummmm a bit of horse trading perhaps the absurdity of not seeing this simple thing definitely gets noticed lol

It's another claim with zero evidence but gets treated by the uncritical thinking mob here as R-E-A-L.

[Fat is a type of crazy]

23 minutes ago, Tippaporn said:

By what stretch of the imagination does a president's debt equate to national security issues?  The absurdity does not go unnoticed.

So, what if Trump has debts to Russians or some other banks, entities or individuals.  Wouldn't the taxpayer want to know what might influence a president in his decision making. If those debts need to be called in, as appears could be the case in the near future, the pressure on a president to either offer some benefit to these parties, or use his position to gain funds to pay the debt, looms large.

But luckily there is a president with a strong moral compass so nothing to worry about. Come on man.

Edited September 28, 2020 by Fat is a type of crazy

[LomSak27]

https://www.foxnews.com/politics/trump-on-defense-after-nyt-publishes-tax-info-says-he-is-entitled-to-credits-like-everyone-else

Just now, Tippaporn said:

It's another claim with zero evidence but gets treated by the uncritical thinking mob here as R-E-A-L.

Trump on defense after NYT publishes tax info, says he is 'entitled' to credits 'like everyone else' - that from FOX NEWS. Looks like an admission to me. 

 

https://www.foxnews.com/politics/trump-on-defense-after-nyt-publishes-tax-info-says-he-is-entitled-to-credits-like-everyone-else

 

Edited September 28, 2020 by LomSak27

[Fat is a type of crazy]

Tomorrow hill hopefully be a good day. Trump can make his contradictions and obfuscations at press conferences but watch Chris Wallace and Biden take him to task on this issue. I am confident that Biden will do OK. He's a bit old but he's got a long history of debating and he's good at getting to the nub of things. Here's hoping.

Edited September 28, 2020 by Fat is a type of crazy

[Thailand]

Is it possible Trump is lying?

[Tug]

4 minutes ago, Fat is a type of crazy said:

Tomorrow hill hopefully be a good day. Trump can make his contradictions and obfuscations at press conferences but watch Chris Wallace and Biden take him to task on this issue. I am confident that Biden will do OK. He's a bit old but he's got a long history of debating and he's good at getting to the nub of things. Here's hoping.

Joes gonna rip him a new one all trumps got is school yard taunts 

[J Town]

25 minutes ago, Tippaporn said:

It's another claim with zero evidence but gets treated by the uncritical thinking mob here as R-E-A-L.

This is one of the basic standards of getting a security clearance. If you are in debt to the tune of hundreds of millions of dollars to foreign nations (which 45 is) this can be used as leverage against you to make decisions that favor them.

[Matzzon]

33 minutes ago, Tippaporn said:

I thought posting false information was not allowed on TVF?

And I thought that putting a question mark after a one word sentence, is asking for an answer and not publishing false information.

 

To answer your question: Yes you are right, it´s not allowed. Guess you should take that up with people who do such things.

Edited September 28, 2020 by Matzzon

[Paiman]

He needs to take better care of his skin. 

 

Missus just said, *why he so ugly skin, not white and very rough*.????

[PatOngo]

41 minutes ago, Tippaporn said:

By what stretch of the imagination does a president's debt equate to national security issues?  The absurdity does not go unnoticed.

Does'nt he buy his ties and MAGA hats and whoever knows what else off the Chinese?

[J Town]

6 minutes ago, Paiman said:

He needs to take better care of his skin. 

 

Missus just said, *why he so ugly skin, not white and very rough*.????

And honestly, for $70,000 a year for his hair, is he getting a good deal?

[JCauto]

1 hour ago, Somtamnication said:

Trump said the NY Times article is fake news then said it obtained the info illegally. Make up your mind, you cannot have it both ways.

Well, he can address the allegations immediately and make the NYT look like utter fools by simply sending one page of his tax returns to the press. Why doesn't he do such a simple thing to refute this calumny? I so confuse.

[simple1]

31 minutes ago, J Town said:

This is one of the basic standards of getting a security clearance. If you are in debt to the tune of hundreds of millions of dollars to foreign nations (which 45 is) this can be used as leverage against you to make decisions that favor them.

True, but as I understand presidential candidates are not subject to in depth security vetting which does seem to be a flaw in the process.

[animalmagic]

1 hour ago, Tippaporn said:

By what stretch of the imagination does a president's debt equate to national security issues?  The absurdity does not go unnoticed.

It's really quite simple and logical.  A person in debt can be placed under pressure by threats to reveal or call in the debts; depending on who they are indebted to it can raise national security issues.  This is why some police forces dismiss junior officers with unmanageable debts and middle ranking officers are required to submit their financial status (assets and debts) annually.  Once it is shown that an individual is financially beholden to external parties who may coerce them to act against their oath of office then they should be removed immediately.

[Chomper Higgot]

1 hour ago, Tippaporn said:

By what stretch of the imagination does a president's debt equate to national security issues?  The absurdity does not go unnoticed.

It’s explained in the excerpt you yourself quoted.

 

Doh!

[mtls2005]

28 minutes ago, J Town said:

And honestly, for $70,000 a year for his hair, is he getting a good deal?

 

Well, he paid $130,000 for a single "session", so who knows?

 

And he deducted the $130,000 as a "business expense".

 

 

[Chomper Higgot]

AOC is on top form and having a field day, pointing out as a waitress she paid more taxes than Trump.

 

That’ll ring true and unjust with millions of ordinary hardworking Americans who struggle to make ends meet.

[ehs818]

Forbes Magazine today stated that their research shows that trump owes more than $1.1 Billion.

[mtls2005]

3 minutes ago, ehs818 said:

Forbes Magazine today stated that their research shows that trump owes more than $1.1 Billion.

 

To the United States Treasury? Or VTB Bank? or both?

 

IMO, he'd be better off releasing much more detail, and backing it up with cogent arguments. More and more info. will be released, and one can assume that the details will become more and more sordid.

[J Town]

15 minutes ago, mtls2005 said:

Well, he paid $130,000 for a single "session", so who knows?

 

And he deducted the $130,000 as a "business expense".

I see what you did there! ????