The president declined at a Sunday night press conference to discuss a New York Times document-based report more clearly describing his efforts to pay little or no tax for years, his sources of income overseas, and the hundreds of millions of dollars his businesses are losing. They also revealed a $ 70,000 hairstyling tax write-off and hundreds of millions of dollars in consultation payments to his eldest daughter, now White House adviser Ivanka Trump.
On Sunday, Mr. Trump dismissed the report as fake news and would not discuss the content of the article or what he says is in the documents.
The president used a tweet earlier today to discuss the latest scandal of his tenure.
“The Fake News Media, just like election time 2016, brings up my taxes and all kinds of other nonsense with information obtained illegally and only with bad intentions,” the president said. “I paid several million dollars in taxes but I was entitled, like everyone else, to depreciation and tax credits.”
“Also, if you look at the extraordinary assets that I own, which the Fake News doesn’t have, I’m extremely under-leveraged – I have very little debt relative to the value of the assets,” he said. -he adds. “Much of this information is already on file, but I have long said that I could publish financial statements, from the moment I announced that I was going to run for president, showing all the properties , assets and debts.
“This is a very AWESOME statement,” continued Mr. Trump, “and also shows that I am the only registered president to give up my annual $ 400,000 plus presidential salary!”
House and Senate Democrats, as well as Joe Biden’s presidential campaign, have slammed Mr. Trump for what is said to be in the archives.
President Nancy Pelosi told MSNBC that his debts and foreign-based income streams make him subject to blackmail and could pose a risk to national security.
Experts say the two could lead the chief diplomat to make decisions against US interests abroad that would improve his financial situation.
A government watchdog has focused on deregistering the extremely expensive haircut.
“Taxpayers paid Trump’s company $ 33,000 for Steven Mnuchin’s secret service fees the same year Trump paid $ 750 in federal taxes,” tweeted Citizens for Responsibility and Ethics in Washington (CREW) to the Secretary of the Treasury. “Meanwhile, Mnuchin was helping Trump hide his tax returns. Questions? “
Democratic lawmakers have criticized the president, but there is little they can do. Hearings are likely, but they reported that the ball was in the court of the Internal Revenue Service, which collects taxes.
“Even though Trump has taken advantage of tax laws that benefit the rich, perhaps illegally, he has worked with Republicans to make these laws even more beneficial to the super-rich in many ways. More than half of American households have less annual income than the sum Trump set aside for hair spending, but his most consistent policy move has been his attempts to weaken their health care protections, ”the Congressman Dan Beyer of House Ways. Means Committee said Monday.
“Trump made up for the substantial losses of his personal brand properties by using his office to raise the profile of those properties. He praised the patronage of wealthy supporters and wealthy corporations who in many cases have been rewarded with their influence, ”he added. The ramifications of his corruption on national security are serious.