Daily Mail: Donald Trump tears into the New York Times for 'made-up, phony' story that he paid no income tax for 11 years, just $750 in 2016 and 2017 and reported huge losses across his business empire
* The Times reported that Trump paid just $750 in federal income taxes in both 2016 and 2017, and paid no income taxes in 11 of the 18 years looked at
* That's despite receiving $427.4 million through 2018 from his reality television program The Apprentice and other endorsement and licensing deals
* Trump was able to minimize his tax bill by reporting losses across his empire
* He is said to have claimed $47.4 million in losses in 2018, despite claiming income of at least $434.9 million in a financial disclosure that year
* Trump denied the report on Sunday, calling it 'total fake news'
* He has previously blasted the long-running quest for his financial records as a 'continuation of the most disgusting witch hunt in the history of our country'
* He is the only modern president who has refused to release his tax returns
Donald Trump on Sunday labeled The New York Times report that he paid just $750 in federal income tax in 2016 and then again in 2017 as 'phony and fake'.
Documents show the president paid no income tax in 11 of the 18 years looked at, according to a report by the paper. He was able to minimize his tax bill by reporting heavy losses across his business empire, including at his golf courses.
That's despite receiving $427.4 million through 2018 from his reality television program and other endorsement deals. Trump is said to be now facing payments on loans of $300 million while money from hosting The Apprentice dries up.
Responding to the report Sunday evening Trump told reporters: 'It's totally fake news. Made up. Totally fake news.' The president, who campaigned for office as a billionaire real estate mogul and successful businessman, said he has paid taxes, though he gave no specifics.
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Update #1: Trump dismisses New York Times report on taxes as 'fake news' -- The Hill
Update #2: Trump calls NYT report on tax avoidance ‘totally fake news’ -- Politico
Update #3: 'Totally fake news': Trump denies NYT report saying he paid almost no federal taxes, says returns to be released when audit ends -- RT
WNU Editor: Trump tax return reports 'may not be as explosive' as the president's critics think (see video below). What's my take. The New York Times has not (and will not) release the documents that they say substantiate their claims. So are we trust the New York Times with their long record of being wrong on many Trump stories? I would not. Bottom line. We all try our best to minimize our taxes. President Trump is doing nothing new.