In a report that Trump dismissed as"fake news," the Times said the Republican president also paid no federal income taxes in 10 of the previous 15 years through 2017, despite receiving $427.4 million through 2018 from his reality television program and other endorsement and licensing deals.
Senate Democratic leader Chuck Schumer took to Twitter to ask Americans to raise their hands if they paid more in federal income tax than Trump. Trump's consistent refusal to release his taxes has been a departure from standard practice for presidential candidates. He is currently in a legal battle with New York City prosecutors and congressional Democrats who are seeking to obtain his returns.
The Times reported that Trump was able to minimize his tax bill by reporting heavy losses across his business empire. It said he claimed $47.4 million in losses in 2018, despite saying he had income of at least $434.9 million in a financial disclosure that year.
Source: News Formal (newsformal.com)
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