Trump says New York Times’ report about his taxes is “fake news” [Video]

WHAT YOU NEED TO KNOW:

• President Donald Trump on Sunday told reporters at the White House briefing that the report revealed by The New York Times about his tax payment was “fake news.”
• The report by the news outlet holds detailed information covering over 20 years of Trump’s tax return data and said that the president paid no income taxes for over 10 years before taking office.
• Trump has frequently called negative news about him as “fake news” and he often criticizes the Times’ reporters and its coverages.

On Sunday, President Donald Trump ditched The New York Times’ report revealing he only paid an annual income tax of $750 in 2016 and 2017.

Trump told reporters during the White House press conference: “It’s totally fake news.” The story came sometime before the president came to the podium.

He insisted that the Americans would see his tax returns eventually, but claimed that it was being audited by the Internal Revenue Service (IRS) for the time being.

“When they’re not, I’d be proud to show you. It’s fake news,” Trump said.

Trump said that the Times wanted “to create a little bit of a story” as the Election Day comes.

When pressed whether he would announce to the public how much income taxes he has paid, the president declined to comment and again referred to the audit. 

“I paid a lot, and I paid a lot of state income taxes too,” Trump said. “It’ll all be revealed. It’s all going to come out.” 

The exclusive exposé by The Times reported a detailed information of Trump’s finances based on the tax return data for over 20 years.

Based on the report, Trump paid no income taxes in 10 of 15 years prior to becoming the president in 2016. It also discovered that he is disputing with the IRS following the validity of about $73 million tax return he gained when he declared business losses.

The report described how Trump leveraged his financial losses to bypass paying taxes. Ever since he has served in the government, his tax returns have been sought by state investigators and the House of Representatives. Past presidents of the US have declared their tax returns.

The report also undermines Trump’s description of himself as a billionaire business tycoon and real estate magnate.

The president, who usually makes baseless or false claims, typically calls derogatory headlines and press coverage as “fake news.” The tagging became a rallying slogan for his supporters.

The New York Times has gotten in the veins of Trump over its coverage of his presidential term. Oftentimes, the president calls out stories and reporters of the outlet.

Weeks before the November 3rd election, Trump continued to trail behind Democratic presidential candidate Joe Biden in national polls.

Source: The Hill