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The self-described billionaire, who has resisted releasing his tax returns despite promising to do so in his 2016 presidential campaign, paid just $750 in federal income taxes in both 2016 and 2017, the Times reported. Trump is the only president in modern history not to make his tax returns public.
Trump paid no federal income taxes in 10 of the 15 years before 2016, according to the Times, which based its reporting on tax return data it obtained that extends across more than two decades.
He reportedly paid dramatically more tax on overseas ventures than he did to the U.S. government.
The Times reported that Trump faces a “gathering storm” of financial threats in the coming years, as ongoing business losses, tens of millions in personal debt and an Internal Revenue Service audit converge.
The Times characterized Trump’s tax filings as revealing “chronic losses and years of tax avoidance.”
Asked about the report at his Sunday news briefing, Trump called it fake news but didn’t offer any evidence to refute it. He said the taxes he paid will “all be revealed” after audits are complete. (The IRS has said it does not bar people from releasing their returns while under audit.)
Twitter lit up swiftly following the publication of the report. Here’s a snapshot of the chatter.
Donald Trump is the Freeloader-in-Chief#TrumpTaxReturns
— Charlotte Clymer 🏳️🌈 (@cmclymer) September 27, 2020
Raise your hand if you pay more taxes than supposed “billionaire” Donald Trump. 🖐
— The Lincoln Project (@ProjectLincoln) September 27, 2020
I helped prepare thousands of taxes for my families accounting, tax, and insurance business. I’ve never seen anything like this. Seasonal farm workers, who mostly file 1099 taxes, pay more taxes than Trump. Trump is a complete and utter criminal. #TrumpTaxReturns #LockHimUp
— Matthew Ryan Best (@BestforKY) September 27, 2020
The #TrumpTaxReturns confirm @realDonaldTrump is a massive fraud. He grossly mismanaged his businesses & personal finances the same way he mismanaged our government: by repeatedly lying and conning those around him.
The emperor has no clothes. And the ones he has are coming due. https://t.co/9X8JuxtFmc
— Ted Lieu (@tedlieu) September 27, 2020
As an undocumented immigrant, I can now say that I've paid more in taxes than the President. According to NYT, @realDonaldTrump paid only "$750 in federal income taxes the year he won the presidency."
Meanwhile, I paid $1,559.85 in *quarterly taxes* for Q4 '19.#TrumpTaxReturns pic.twitter.com/6D3m9qPhK0
— Rodrigo P. Pimentel (@rdrigopimentel) September 27, 2020
Donald Trump, a self-professed “billionaire,” pays only $750 a year in taxes...
While millions of working class Americans are struggling because Mitch McConnell & the Trump Administration won’t approve a relief bill in a pandemic that he also lied about. #TrumpTaxReturns
— AprilDRyan (@AprilDRyan) September 27, 2020
Trump claims he’s still under audit, which he’s been claiming for the past five years. “It’s under audit, it’s been under audit for a long time,” he says of his tax returns, which he has refused to release. He says of the IRS, which he controls: “They treat me very very badly.” https://t.co/3tSWDzpmSp
— Manu Raju (@mkraju) September 27, 2020
Trump, asked how much he paid in taxes, doesn’t say. Claims he pays a lot, including state taxes. Another reporter presses him to explain how much he has paid in federal taxes, he doesn’t answer. “You’re very rude to him,” pointing to another reporter
— Manu Raju (@mkraju) September 27, 2020
You pay more taxes than Donald Trump does. No need to look it up. You do. #TrumpTaxReturns
— Grey DeLisle-Griffin (@GreyDeLisle) September 27, 2020
— Christine Pelosi (@sfpelosi) September 27, 2020
My son paid more in taxes for his summer internship than mister so-called billionaire stable genius paid in 2017. #TrumpTaxReturns
— Amy Siskind (@Amy_Siskind) September 27, 2020
It is a disgrace that Trump became the first major-party presidential candidate since the 1970s to avoid releasing his tax returns. This critical information should have been available for voters to consider in 2016. Never again! #TrumpTaxReturns https://t.co/5liLizaGGw
— Larry Sabato (@LarrySabato) September 27, 2020
Excessive debt is viewed as a national security vulnerability and generally means no security clearance allowed. Why? Not only because a debt ridden person is desperate, but because the entity loaning has undue influence over the person. #TrumpTaxReturns
— Juliette Kayyem (@juliettekayyem) September 27, 2020
— Allie Goertz (@AllieGoertz) September 27, 2020
This is what we tweet about today, tomorrow & forever.
1. Trump is NOT a billionaire. He's a FRAUD.
2. Trump paid less in taxes than ANYONE.
3. Trump paid 750 dollars in taxes.
4. Trump is in massive DEBT.
5. Trump SCREWED workers. He never helped them.
6. Trump LIED again
— Don Winslow (@donwinslow) September 27, 2020
Here’s how much President Trump paid in federal income tax in 2005, 2006, 2007, 2008, 2011, 2012, 2013, and 2014:
Retweet if you paid more than Donald Trump in taxes. https://t.co/csc0yPVuTw
— Katie Porter (@katieporteroc) September 27, 2020
This article originally appeared on HuffPost and has been updated.