President Donald Trump paid just $750 in federal income taxes in both 2016 and 2017, after years of reporting heavy losses from his business enterprises to offset hundreds of millions of dollars in income, the New York Times reported on Sunday, citing tax-return data. Senate Democratic leader Chuck Schumer took to Twitter to ask Americans to raise their hands if they paid more in federal income tax than Trump. In a statement to the Times, Alan Garten, a lawyer for the Trump Organization, said Trump had paid millions of dollars in personal taxes over the last decade, without weighing in on the specific finding of minimal income taxes. The Times reported that Trump was able to minimize his tax bill by reporting heavy losses across his business empire. The Times said it had obtained tax-return data covering over two decades for Trump and companies within his business organization.

Source: The Star September 27, 2020 23:37 UTC