Leave to the media to blow up their own story.
The media and Democrats have gone wild over President Trump’s tax returns that were leaked to them.
AOC, CNN’s Brian Stelter, and MSNBC were aghast over the claim that President Trump only paid $750 in taxes.
In 2016 & ‘17, I paid thousands of dollars a year in taxes *as a bartender.*
Trump paid $750.
He contributed less to funding our communities than waitresses & undocumented immigrants.
Donald Trump has never cared for our country more than he cares for himself. A walking scam. https://t.co/VZChbp8htu
— Alexandria Ocasio-Cortez (@AOC) September 28, 2020
Trump lives a life of luxury, and lets working families pay the taxes.
The year he was elected, he paid $750 in income taxes.
No wonder his signature policy is cutting taxes for the wealthy and cutting healthcare for everyone else.
It’s who Trump is. It’s who he’s always been. https://t.co/0hCbzhllK1
— Adam Schiff (@RepAdamSchiff) September 27, 2020
The headline itself might be sexy however a responsible person (like all of you reading this) would read the entire article and interactive website.
You had to read about halfway down the page to get the details.
We added the bold to emphasize the point.
The New York Times reported:
As he settled into the Oval Office, his tax bills soon returned to form. His potential taxable income in 2016 and 2017 included $24.8 million in profits from sources related to his celebrity status and $56.4 million for the loans he did not repay. The dreaded alternative minimum tax would let his business losses erase only some of his liability.
Each time, he requested an extension to file his 1040; and each time, he made the required payment to the I.R.S. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017. But virtually all of that liability was washed away when he eventually filed, and most of the payments were rolled forward to cover potential taxes in future years.
So when Trump filed his taxes he made the necessary payment and he would just tell the IRS to keep the money and use it for next year’s payment once the previous years taxes were settled.
The Democrats and the media are also forgetting that in 2016 the President admitted how bankruptcy made him smart during his debate with Hillary Clinton when she tried to attack him over not paying taxes. There is nothing new here.
This hit job by the New York Times is similar to a piece they ran on (get this) October 2, 2016.
Fours years later the New York Times is running the same old playbook.