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Trump insisted he paid “millions of dollars” in federal income tax in 2016 and 2017, the two years in which the New York Times reported he paid only 750 $ in one bomb report on Sunday.
When Biden stepped in, “show us your taxes then,” Trump repeated the claim he had made since entering politics five years ago – that he would release his tax returns once they did. will be more controlled. Trump has said he cannot release them while the audit is ongoing – a claim his own IRS commissioner has refuted.
The Times reported that Trump paid no income tax in 11 of the 18 years the newspaper examined, citing decades of “tax return data … for Mr. Trump and the hundreds of companies that make up its commercial organization ”. Trump then paid $ 750 in 2016 and again in 2017. The newspaper found that Trump reduced his tax bill by reporting massive losses and taking advantage of tax breaks and refunds.
Biden suggested he would eliminate the breaks taken by Trump, but falsely suggested they were isolated from cuts included in the 2017 tax law that Trump had championed.
“The tax code that put him in a position where he pays less tax than a schoolteacher on the money a schoolteacher earns is because of him – he says he’s smart because he can take advantage of the tax code, and he takes advantage of the tax code, ”Biden said. “That’s why I’m going to eliminate the Trump tax.”
In fact, Trump has benefited from longstanding deductions, according to the Times report. The newspaper said it did not get any return data for 2018 and 2019, after Trump’s tax law came into effect.
The Times report also suggested that Trump had incurred significant debt, with some $ 300 million in loans he personally guaranteed due to mature over the next four years. Trump also disputed that detail on Tuesday, saying, “I am totally under-leveraged because the assets are extremely good.”
Biden calls Trump ‘racist’ for ending diversity training
Biden explicitly called Trump a “racist” in an exchange about the president’s recent decision to end racial sensitivity training among federal agencies.
Responding to a question about why he ended training that addresses white privilege or critical race theory, Trump said he made the decision because “it’s racist,” that ” a lot of people were complaining “and that this reflected a” radical revolution “take. place all over the country.
“If you look at people, we were paying people hundreds of thousands of dollars to teach them really bad ideas and, frankly, very sick ideas,” Trump said. “They were teaching people that our country is a horrible place, it is a racist place, and they were teaching people to hate our country and I will not allow that to happen.
Biden said the premise was wrong.
“Nobody does that,” Biden said. “He’s a racist.”