India  

Democrats pounce on Trump tax report

Video Credit: Reuters - Politics - Duration: 02:14s - Published
Democrats pounce on Trump tax report

Democrats pounce on Trump tax report

Democrats seized on a fresh line of attack on the eve of the first U.S. presidential election debate, accusing President Donald Trump of gaming the system after a report showed he paid paltry amounts of federal tax in recent years.

This report produced by Jonah Green.

Democrats seized on a fresh line of attack on the eve of the first U.S. presidential election debate, accusing President Donald Trump of gaming the system after a report showed he paid paltry amounts of federal tax in recent years.

Citing tax-return data, the New York Times reported that Trump has hundreds of millions of dollars in debt amid chronic business losses that he uses to avoid paying taxes.

The Times reported Sunday that the self-proclaimed billionaire paid only $750 in federal income taxes in both 2016 and 2017.

Speaking on MSNBC, Democratic Senator Dick Durbin said this explains why Trump has refused to release his taxes, as presidents and presidential candidates have done for decades.

“Now we know why: this so-called billionaire business empire is a house of cards.

He is facing hundreds of millions of dollars of personal debt that will come due in just a short period of time and he’s had a string of business failures that he’s propped up” using his tax returns.

Trump has dismissed the report as “fake news.” In a post on Twitter on Monday, he said he had paid “many millions of dollars in taxes” but was entitled to depreciation and tax credits and was “extremely under-leveraged” in terms of his debt and assets.

He did not provide evidence or promise to release any financial statements before the Nov.

3 election.

House Speaker Nancy Pelosi told MSNBC it was "not right" for Trump to be paying less in taxes than the average American family, adding that the president's debts raised questions of national security.

The report also said Trump paid no federal income tax in 10 of the previous 15 years through 2017, despite receiving $427.4 million in income through 2018 from his reality television program and other endorsement and licensing deals.

Chairman of the House Intelligence Committee Adam Schiff tweeted "Trump lives a life of luxury, and lets working families pay the taxes.... No wonder his signature policy is cutting taxes for the wealthy and cutting healthcare for everyone else."




You Might Like


💡 newsR Knowledge: Other News Mentions

Democratic Party (United States) Democratic Party (United States) Major political party in the United States

Wisconsin county recount boosts Biden's margin [Video]

Wisconsin county recount boosts Biden's margin

President Donald Trump's election campaign demanded recounts in two of Wisconsin's most populous and Democratic-leaning counties. Joe Biden ended up gaining votes. This report produced by Jonah Green.

Credit: Reuters - Politics    Duration: 01:02Published
In crucial electoral state Georgia's governor certifies Democrat win [Video]

In crucial electoral state Georgia's governor certifies Democrat win

It brings the state one step closer to wrapping up an election fraught with unfounded accusations of fraud by Trump and his supporters.

Credit: Euronews English    Duration: 01:20Published
Former NYC Mayor David Dinkins dies at 93 [Video]

Former NYC Mayor David Dinkins dies at 93

[NFA] David Dinkins, who served as New York City's first and only African American mayor during the 1990s, died on Monday at the age of 93, police said. This report produced by Yahaira Jacquez.

Credit: Reuters - Politics    Duration: 01:40Published
Biden transition gets green light from GSA [Video]

Biden transition gets green light from GSA

[NFA] President-elect Biden was formally given the go-ahead by a key federal agency to begin his transition to the White House, shortly after Michigan certified him as the state's winner. This report produced by Chris Dignam.

Credit: Reuters - Politics    Duration: 02:37Published

Donald Trump Donald Trump 45th president of the United States

GOP turns to Biden transition [Video]

GOP turns to Biden transition

[NFA] Senior Republican lawmakers on Sunday said a Joe Biden presidency looks inevitable, even as President Donald Trump continues to fight the election results almost a month after Election Day and says he won’t change his mind anytime soon. Gavino Garay reports.

Credit: Reuters Studio    Duration: 02:06Published
SCOTUS weighs Trump's contentious census bid [Video]

SCOTUS weighs Trump's contentious census bid

The Supreme Court on Monday is set to take up President Donald Trump’s unprecedented and contentious effort to exclude illegal immigrants from the population totals used to allocate U.S. House of Representatives districts to states. Lisa Bernhard produced this report.

Credit: Reuters Studio    Duration: 02:06Published
Iran mourns slain nuclear scientist [Video]

Iran mourns slain nuclear scientist

A top advisor to Iran's Supreme Leader has warned that those responsible for killing one of the country's top nuclear scientists would face a "calculated and decisive" response. Tehran blames Israel for the attack. David Doyle reports.

Credit: Reuters - Politics    Duration: 01:20Published
Only Trump left to campaign in Hyderabad civic polls: Owaisi on BJP's strategy [Video]

Only Trump left to campaign in Hyderabad civic polls: Owaisi on BJP's strategy

Addressing a public rally at Hyderabad's Langer House on November 28, All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi spoke about Hyderabad municipal election. Owaisi said, "It doesn't look like Hyderabad election, it is as if we are electing a Prime Minister in place of Narendra Modi. I was at a rally in Karwan and said that everyone has been called here, a child said they should have called Trump too." "He was right, only Trump is left," AIMIM chief added.

Credit: ANI    Duration: 02:03Published

Dick Durbin Dick Durbin United States Democratic Senator from Illinois

Democrats object as Senate panel sets Barrett vote [Video]

Democrats object as Senate panel sets Barrett vote

The Republican-led U.S. Senate Judiciary Committee on Thursday scheduled an Oct. 22 vote to advance conservative appellate judge Amy Coney Barrett's nomination to the Supreme Court to the full Senate for confirmation, rejecting Democratic objections. This report produced by Yahaira Jacquez.

Credit: Reuters - Politics    Duration: 02:14Published

Nancy Pelosi Nancy Pelosi 52nd Speaker of the United States House of Representatives

Treasury pulls plug on some Fed lending programs [Video]

Treasury pulls plug on some Fed lending programs

House speaker Nancy Pelosi went after Treasury Secretary Steven Mnuchin on Friday for his decision to end some Federal Reserve COVID-19 emergency lending programs, a move also criticized by many Fed officials. Conway G. Gittens reports.

Credit: Reuters Studio    Duration: 02:16Published
Pelosi is re-elected as House Speaker [Video]

Pelosi is re-elected as House Speaker

Democrats in the U.S. House of Representatives on Wednesday voted to keep House Speaker Nancy Pelosi in her job for another two years, despite the Nov. 3 elections in which the party lost seats to Republicans. Colette Luke has the latest.

Credit: Reuters Studio    Duration: 01:38Published
Pelosi slams Facebook over election misinformation [Video]

Pelosi slams Facebook over election misinformation

U.S. House of Representative Speaker Nancy Pelosi said on Friday that Facebook has been 'part of the problem' when it comes to election-related misinformation.

Credit: Reuters Studio    Duration: 01:24Published
'It's not safe': States step in as COVID-19 surges [Video]

'It's not safe': States step in as COVID-19 surges

[NFA] State governors across the United States were more forceful in their warnings, telling residents it was not safe to go out, as COVID-19 infections soared to new records. Conway G. Gittens reports.

Credit: Reuters - Politics    Duration: 02:49Published
McConnell, Pelosi spar over stimulus size [Video]

McConnell, Pelosi spar over stimulus size

[NFA] U.S. Senate Majority Mitch McConnell said on Friday that October's drop in the nation's employment rate showed that Congress should enact a smaller coronavirus stimulus package, but House Majority Leader Nancy Pelosi said, smaller is still not the way to go. Conway G. Gittens reports.

Credit: Reuters Studio    Duration: 01:54Published

The Times The Times British daily (Monday to Saturday) national newspaper based in London

Johnson looks to defuse Tory rebellion over free school meals [Video]

Johnson looks to defuse Tory rebellion over free school meals

Boris Johnson is reportedly planning to increase funding for the poorestfamilies over Christmas in an attempt to head off a damaging revolt over freeschool meals. The Times quoted allies of the Prime Minister as saying work wasunder way on providing additional support for eligible pupils outside termtime. There was no immediate response to the reports from Downing Street. Sucha move is likely to be seen as a partial climbdown by the Government in itsstruggle with footballer Marcus Rashford, who has been spearheading demandsfor free meals to be extended in England over the school holidays. However, itwas unclear whether it would be enough to defuse the growing anger on the Torybenches as more MPs continued to speak out against the Government’s handlingof the issue.

Credit: PA - Press Association STUDIO    Duration: 01:06Published

MSNBC American television news channel

MSNBC's Brian Williams Mocks Trump's COVID Response in Exit Monologue

Anyone looking to get schooled in sarcasm, irony or satire ... check out Brian Williams going full Jonathan Swift on President Trump's COVID response, and..
TMZ.com
Eva Longoria Clarifies Comments Made on MSNBC | THR News [Video]

Eva Longoria Clarifies Comments Made on MSNBC | THR News

Eva Longoria took to social media late on Sunday to clarify comments she had made in an interview on MSNBC that were construed as downplaying the role of Black women in helping Joe Biden win the presidential election.

Credit: The Hollywood Reporter    Duration: 02:04Published

Related news from verified sources

Donald Trump didn't pay income tax for 10 of 15 years before 2016 polls

US President Donald Trump did not pay his income tax for 10 of the 15 years before the 2016 election,...
Mid-Day - Published


Related videos from verified sources

Biden to Trump: 'Show us your tax returns' [Video]

Biden to Trump: 'Show us your tax returns'

U.S. President Donald Trump pushed back on a New York Times report that he paid little or no federal income tax in recent years, saying that he had paid 'millions of dollars. And you'll get to see it.'

Credit: Reuters Studio     Duration: 02:25Published
President Trump Ignores Debt Questions On His Way To Debate [Video]

President Trump Ignores Debt Questions On His Way To Debate

CBS4's Debra Alfarone reports on the details of the New York Times report into Trump's tax return history.

Credit: CBS4 Miami     Duration: 02:00Published
Biden releases tax returns, urges Trump to do so [Video]

Biden releases tax returns, urges Trump to do so

[NFA] Democratic presidential candidate Joe Biden released his tax returns and pressed the Republican president to do likewise, keeping pressure on Donald Trump in the wake of a New York Times expose..

Credit: Reuters - Politics     Duration: 01:27Published