The bombshell report that President Donald Trump paid $750 in federal income tax in both 2016 and 2017, the first years of his presidency, set social media ablaze.
The president refused to comment on the New York Times story, calling it “fake news” and adding that he pays “a lot.”
However, the Biden campaign has seized on the report by selling stickers that read “I paid more in taxes than Donald Trump.”
The vinyl sticker two-packs are priced ironically at $7.50.
Democratic presidential nominee Joe Biden has not yet released an official statement in response to the report about the president’s tax woes. However, the two are expected to face off during the first presidential debate Tuesday night, and the subject will undoubtedly arise.
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The Times article details how during his first two years as president, Trump received $73 million from foreign operations, which, in addition to his golf properties in Scotland and Ireland, included $3 million from the Philippines, $2.3 million from India and $1 million from Turkey. The president in 2017 paid $145,400 in taxes in India and $156,824 in the Philippines, compared to just $750 in U.S. income taxes.
Read More: NY Times: Trump paid $750 in US income taxes in 2016, 2017
The report also notes that the president is saddled with tens of millions of dollars in debt, much of which would come due in his second term, if he was re-elected.
According to the Times, he appears to be responsible for loans totaling $421 million, most of which is coming due within four years.
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For years, Trump has maintained that his taxes could not be released because he is under audit. That fact has been rejected by a number of experts. Trump and the Justice Department have fought their release all the way to the Supreme Court amid an investigation from New York state.
The Times did not disclose how they obtained the returns, only that their latest findings build on their previous reporting.
#TrumpTaxReturns is still a trending topic on Twitter, where users are expressing their dismay with the disclosures about the president’s finances.
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