Trump claims, without offering proof, he has ‘very little debt’ and has paid millions of dollars in taxes after explosive New York Times report

But Trump pushed back on the report in a series of tweets Monday morning.

“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,” Trump wrote in a tweet.

“Also, if you look at the extraordinary assets owned by me, which the Fake News hasn’t, I am extremely under leveraged – I have very little debt compared to the value of assets. Much of this information is already on file, but I have long said that I may release, Financial Statements, from the time I announced I was going to run for President, showing all properties, assets and debts,” the president added.

“It is a very IMPRESSIVE Statement, and also shows that I am the only President on record to give up my yearly $400,000 plus Presidential Salary!”

Timothy O’Brien, a Bloomberg News opinion columnist who was sued for libel by Trump over a book he wrote about the president’s finances, on Monday wrote that Trump’s indebtedness, which O’Brien believe is much higher what the Times reported, makes him a danger to national security.

“Due to his indebtedness, his reliance on income from overseas and his refusal to authentically distance himself from his hodgepodge of business, Trump represents a profound national security threat – a threat that will only escalate if he’s re-elected,” wrote O’Brien, who won the suit filed by Trump.

Laurence Tribe, a Harvard Law professor and a Trump critic, tweeted O’Brien’s article, adding that Trump’s creditors have a significant hold over the president because of the amount of his reported debt.

“That puts them in position to squeeze us all as long as he’s president,” Tribe wrote.

“Two takeaways: 1. Keeping him in office endangers our national security. 2. He’s desperate to hold onto office to stay out of prison,” Tribe wrote.

Rep. Ted Lieu, D-Calif., in a tweet echoed that, writing, “Any American who filed a tax return that looked like #TrumpTaxes would be denied a security clearance.”

Lieu added that Trump “is a walking national security liability. He can be leveraged by foreign powers. Actually, pretty sure that has already happened.”

Biden’s campaign wasted no time seizing on the Times report, issuing a new advertisement that contrasted the president’s tax payments with those of working-class Americans.

“Teachers paid $7,239. Firefighters paid $5,283. Nurses paid $10,216. Donald Trump paid $750,” the Biden campaign tweeted.

Article source: https://www.cnbc.com/2020/09/28/trump-offers-no-proof-as-he-claims-hes-paid-millions-in-taxes-and-has-little-debt.html