Donald Trump said during the Tuesday debate against Democratic presidential candidate Joe Biden that he has paid "millions of dollars" in income tax, adding that one year, it even reached $38 million.
"Show us your tax returns", Biden pressured Trump, to which the president replied he will do that but only after they are "finished".
Biden said that he is going to eliminate Trump's tax cuts.
Wallace: “Is it true that you paid $750 in federal income taxes each of those 2 years?”— Bloomberg QuickTake (@QuickTake) September 30, 2020
“I’ve paid millions of dollars in taxes; millions of dollars in income tax,” Trump says. He says “you’ll see” his tax return “as soon as it’s finished" #Debates2020 pic.twitter.com/S9Z4SOZTPE
The New York Times published an article on Sunday claiming that Trump paid $750 each for 2016 as well as 2017 and that he paid no income taxes at all in ten of the previous 15 years. The president dismissed the claims as another piece of "fake news" in a series of tweets, adding that he was entitled to depreciation and tax credits like everyone else.
The Fake News Media, just like Election time 2016, is bringing up my Taxes & all sorts of other nonsense with illegally obtained information & only bad intent. I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits.....— Donald J. Trump (@realDonaldTrump) September 28, 2020
Biden's tax records showed he and his wife, Jill Biden, collectively earned $517,334 in 2019 and paid $346,204, while receiving a refund of $46,858.