September 27, The New York Times published their obtained tax information of President Donald Trump. The information, which spans over two decades, revealed large write-offs, debt and his struggling properties. It was also revealed that the President paid only $750 in federal income taxes in 2016 and 2017, the year he was elected president and his first year in office. Overall, the reporters taking part in this investigation have concluded that he has not paid federal income taxes for eleven out of the eighteen years examined. The reduction in his taxes have been due to major financial losses from his businesses. From the documents collected, The Times has reported that the President has obtained millions in valuable assets, but they do not expose the correct amount of wealth he currently has. The newspaper has decided to not disclose the documents in their article in order to protect their source.
At a press briefing following the publication of his tax information, President Trump dismissed the report as being “totally fake news.” He stated that he has paid his federal income taxes and can be shown in his tax returns, however, those returns are under audit, meaning that the IRS is inspecting them. He said that once they are released from the audit, they will reveal that he has paid his federal and state taxes.
The publication of this investigation also plays a threat to the President’s reputation as a successful businessman, which would make him a reliable overseer of the U.S. economy.