Donald Trump, the incumbent president of the United States, is once again facing criticism: according to a report in the prestigious New York Times, he has paid less in taxes than the average American in many years. Trump, who likes to present himself as a successful businessman, is even said to have paid no income tax at all in some years, according to the newspaper. Instead, he had claimed losses and reduced his income tax payments to just $750.
The New York Times revelations could have implications for the campaign, particularly in light of the debate over tax fairness and the economic impact of the Corona crisis. However, the report also raises questions about how it is that a multi-billionaire like Trump pays so little in taxes and whether this is legal. The Trump administration has called the New York Times reports "fake news" and argued that Trump "has always paid his taxes".
The revelations of the New York Times report
The New York Times report on President Trump’s alleged low tax payments has caused an uproar. According to the newspaper, the billionaire has paid only $750 in income taxes in recent years – and that was in 2016 and 2017, when he was already in office. The report is based on confidential financial documents leaked to the newspaper.
The report’s revelations now raise questions about whether Trump abused his office as president to commit tax evasion. Democrats are calling for an immediate investigation into the allegations, while Republicans reject the report as politically motivated and lacking evidentiary value.
- An overview of the report’s key points:
- Trump paid income tax in only 10 of the past 15 years.
- In 2016 and 2017, he paid only $750 each in income taxes.
- Trump has more than $300 million in debt coming due in the next few years.
- He may have received $72.9 million in tax breaks.
The New York Times report is evidence that the rich and powerful don’t always have to follow the same rules as the rest of the population. The revelations also raise questions about how a president who supposedly pays so little in taxes can get his economic policies passed.
The report is likely to generate debate for some time to come and could have implications for the November presidential election.
Press and public react to report on Trump’s income tax
The publication of the New York Times report on Donald Trump’s low payment of income taxes has caused quite a stir in the press and among the general public. Many media outlets are reporting extensively on the newspaper’s revelations and analyzing the potential consequences for the U.S. presidential election.
In particular, the fact that the billionaire is said to have paid only $750 in income taxes for 2016, while paying no taxes at all in some of the years prior, is causing outrage and criticism. Many commentators see this as an example of inequality in the tax system and criticize Trump for shirking his responsibilities as a political leader.
- Some media outlets are also emphasizing the role of The New York Times, whose investigative work made the report possible in the first place. The newspaper itself defends its reporting, arguing that it is fulfilling its role as an established journalist by getting important information to the public.
- Overall, reactions to the report also reflect the divided mood in the election campaign between supporters and opponents of Donald Trump. While some see the report as a vindication of their critical stance toward the president, others seek to qualify the allegations and cast doubt on the credibility of The New York Times.
It remains to be seen how the report will impact the coming weeks and months of the presidential campaign. What is certain, however, is that it brings the issue of tax justice and the responsibility of politicians in relation to their tax obligations into the focus of public debate.