Trump erupts at bombshell report revealing he pays almost no federal income tax

Donald Trump has spoken out after the New York Times published a bombshell report that said the president only paid $750 in taxes the year he assumed the White House, claiming he may eventually release “impressive” financial statements that contradict the newspaper’s findings.

“The Fake News Media, just like Election time 2016, is bringing up my Taxes & all sorts of other nonsense with illegally obtained information & only bad intent,” the president claimed in a series of tweets on Monday morning. “I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits.”

“Also, if you look at the extraordinary assets owned by me, which the Fake News hasn’t, I am extremely under leveraged - I have very little debt compared to the value of assets,” he added. “Much of this information is already on file, but I have long said that I may release Financial Statements, from the time I announced I was going to run for President, showing all properties, assets and debts.”

“It is a very IMPRESSIVE Statement,” Mr Trump continued, “and also shows that I am the only President on record to give up my yearly $400,000 plus Presidential Salary!”