|President Donald Trump speaks during a news conference in the Briefing Room of the White House on September 27, 2020 in Washington. (Photo by Joshua Roberts/Getty Images)|
[Asia News Communication = Reporter Reakkana] US President Donald Trump paid just US$750 in federal income taxes in 2016, the year he won the election, The New York Times reported on Sunday (Sep 27), citing tax return data extending more than 20 years.
It added that he also paid only US$750 in his first year in the White House, and he had paid no income taxes at all in 10 of the earlier 15 years because he reported losing much more money than he made. Trump immediately dismissed the report as "totally fake news". "First of all, I paid a lot and I paid a lot of state income taxes too. It'll all be revealed," Trump said as he shrugged off the New York Times story that cited tax return data extending more than 20 years.
US presidents aren’t required by law to release details of their personal finances, but every one since Richard Nixon has done so. Trump has broken with presidential tradition by refusing to release his returns, fighting a long battle in the courts and fuelling speculation about what they might contain. He also previously indicated he preferred to minimise his tax bill, saying in a 2016 presidential debate it made him "smart".