Newly-released tax returns indicated that the former president paid far less income tax in 2016 and 2017 than he previously said.
The committee's report found that Trump's income varied significantly in that timespan, but that he never paid more than 5 percent in income tax. In 2016 and 2017, Trump paid only $750 in federal income tax, as he reported substantial financial losses throughout his myriad of businesses.
Former President Donald Trump is seen, inset, a tax form. Following the release of Trump's tax returns on Friday, several people on social media posted a video of Trump saying he paid millions of dollars in income tax from 2016 to 2017. The tax returns showed he paid only $750.After the tax returns were released, some social media users posted a video from a 2020 presidential debate in which former"I know that you pay a lot of other taxes, but I'm asking you the specific question.
Trump dismissed reports that he paid such a low amount, insisting he paid millions despite the newly-released returns indicating otherwise. As Trump spoke, Biden, then a candidate, pressed him to release his tax returns to prove how much he paid. "I've paid millions of dollars in taxes. Millions of dollars of income tax. And let me just tell you—there was a story in one of the papers that I paid $38 million one year. I paid $27 million one year," Trump said.
Mike Sington, a former NBCUniversal executive, tweeted the video on Friday alongside the caption:"Watch Trump lie right to your face."
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