Joe Biden’s campaign seized on a fresh line of attack on the eve of the Democratic presidential nominee’s first debate with President Donald Trump, accusing the Republican incumbent of gaming the system to avoid paying his fair share of taxes.
Trump, a self-proclaimed billionaire who is seeking reelection in the Nov. 3 vote, paid only $750 in federal income taxes in both 2016 and 2017, after years of reporting heavy losses from his businesses to offset hundreds of millions of dollars in income, the New York Times reported on Sunday, citing tax-return data.
The Times also reported that Trump paid no federal income tax 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.
Jared Bernstein, one of Biden’s top economic advisers, said the report highlighted the need to simplify the tax code and make people like Trump pay their fair share.
“The vast majority of us pay taxes and get on with life. But the richer you are, the more tax lawyers you employ, the more complex you can make your holdings – all of this can, as the piece shows reduce your tax liability to zero,” Bernstein said on Twitter.
Mariah Carey’s song ‘All I Want for Christmas Is You’ gets diamond certified
Ontario man who accidentally transferred $19,000 to stranger’s account left for weeks without solution
Iran currency falls as nuclear talks seem to hit roadblock
Protestors block railway near Montreal in solidarity with Wet’suwet’en hereditary chiefs
Anger, heavy physical exertion may trigger stroke: Study
Asia2 weeks ago
New Delhi’s air pollution still extremely high despite emergency measures
World2 weeks ago
Third night of violence in Guadeloupe as France sends police special forces
Middle East3 weeks ago
France denies handing over executed journalist Zam to Iran: Report
Europe4 weeks ago
EU accuses Belarus of ‘trafficking’ migrants toward border
Latin America4 weeks ago
Cuba accuses U.S. of organizing new protest demonstrations
Middle East3 weeks ago
The May 2021 Israel-Hamas war was a stress test for normalization
Middle East4 weeks ago
UN Security Council permanent members condemn Yemen’s Houthi attacks on Saudi Arabia
U.S4 weeks ago
Judge OKs US$626 million settlement in Flint water litigation