Trump Denies NYT Story, Says ‘Entitled To Tax Credit’
United States President Donald Trump has denied a recent report which stated that he paid no income tax for about ten years.
A New York Times report on Sunday had claimed that Trump dodged tax for years.
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“Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.”
“He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made,” the report stated.
But, Trump alleged on Monday, that the story was untrue, adding he paid taxes but that he was also entitled to tax credits as everyone else.
A tax credit is an amount of money that taxpayers can deduct from taxes they are owing.
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“The Fake News Media, just like Election time 2016, is bringing up my Taxes and all sorts of other nonsense with illegally obtained information and only bad intent. I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation and tax credits,” Trump tweeted.
Trump also debunked the reports’ claim about his wealth status.
According to him, he had more money to spare based on his assets.
“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.
“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.
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” It is a very IMPRESSIVE Statement, and also shows that I am the only President on record to give up my yearly $400,000 plus Presidential Salary!,” he tweeted.
