DONALD TRUMP SUSPECTED FOR TAX FRAUD
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American renowned newspaper The New York Times reveals that president Donald Trump has been shying away from paying his taxes. The paper has obtained tax-return data for President Donald Trump and his companies covering more than two decades. The president has always made it difficult to release information concerning his tax, making him the first U S president in decades to have hide his tax details.
New York Times investigations noticed that Trump paid no federal income taxes in 11 of 18 years that it examined. In 2017, after he became president, his tax bill was only $750. It also noticed that the President has reduced his tax bill with questionable measures, including a $72.9 million tax refund that is the subject of an audit by the Internal Revenue Service. Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes. The financial pressure on him is increasing as hundreds of millions of dollars in loans he personally guaranteed are soon coming due. Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television. Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill. As president, he has received more money from foreign sources and U.S. interest groups than previously known. The records do not reveal any previously unreported connections to Russia.
The new discovery of President Trump’s tax issues has put challenger republican candidate Joe Bidden in an advantageous position, owning that opinion pull was already in favor of Biden. Joe Biden’s campaign is capitalizing on revelations that the President has paid little or no federal income taxes for years amplifying the Democratic nominee’s message that the 2020 election is a choice between the working-class he came from and the wealthy elite the president personifies. “You have in Donald Trump a president who spends his time thinking about how he can work his way out of paying taxes, of meeting the obligation that every other working person in this country meets every year,” Kate Bedingfield, Biden’s deputy campaign manager, said on CNN Sunday. “With Joe Biden, you have somebody who has a completely different perspective on what it means to be a working family in this country.”
The new development which is liken to a bombshell poses another obstacle to the president’s effort to catch up to Biden, who is leading in most national and battleground-state polls as their race enters its final five weeks. It also throws Trump on the defensive on the eve of Tuesday’s first presidential debate. Though Tim Murtaugh, a spokesman for Trump’s campaign, shrugged off the report, calling it “a big nothing-burger and a pre-debate attack intended solely to help Joe Biden.” On Sunday and Trump called it “fake news”, they both offered no evidence to refute the report in the New York Times. The Biden camp immediately seized the fresh ammunition for attacking the president and drawing a heightened contrast between the rivals.
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