Tax revelation could blot Trump's business brand

bombshell revelations that President Donald Trump paid just $750 in federal income tax year he entered White House served to raise doubts about Trump's self-im as a shrewd and successful businessman.

Trump has worked for deces to build an im of himself as a hugely successful businessman — even choosing "mogul" as his Secret Service code name. But New York Times on Sunday revealed that he paid just $750 in federal income taxes in 2016, year he won presidency, and in 2017, his first year in office. He paid income taxes whatsoever in 10 of previous 15 years, largely because he reported losing more money than he me, according to Times, which obtained years' worth of tax return data that president h long fought to keep private.

Compared to or scandals president has faced, Jonathan Lemire, a White House Reporter for Associated Press, thinks this one is easier to digest.

"Your aver American wakes up in morning, doesn't think about Russia or Ukraine. And though he or she might see helines. y don't have much of a bearing on what he is doing," Lemire said. "Every American does or should pay income tax. And I think re are a lot of Americans out re who pay far more than 750 dollars, who have a lot less money than President Trump."

documents are also providing a new opening for his Democratic rival, Joe Biden, on eve of first presidential debate.

Roughly half of Americans pay federal income taxes, but aver income tax paid in 2017 was nearly $12,200, according to IRS.

Biden campaign's online store alrey selling stickers saying "I paid more income taxes than Donald Trump" on Sunday night.

"Democrats alrey in 24 hours or so since story released, painting president as someone who has lost an extrinary amount of money as a business man. Which seems to undercut his im as art of deal salesman," Lemire ded.

Biden campgaingn recently stepped up efforts to paint Trump as a charlatan who has lied to his working-class supporters. In contrast, Biden has tried to highlight his own middle-class upbringing.

election, Biden has said, is "Scranton vs. Park Avenue," pitting Biden's boyhood hometown in Pennsylvania against Manhattan, where Trump built his branding empire and reality television career.

Bill Barrow, a National Political Reporter for Associated Press, said Trump's taxes could be an issue that sticks around through vemeber and has an impact on results.

"It doesn't take much on in elections that turn on margins. It could stick eugh to matter," Barrow said. "w, is everyone in his base going to buy that or believe that or be swayed? , but this is a president who won by cumulatively about 80,000 votes spre across three states. That's where his Electoral College majority came from. re's t a lot of wiggle room, particularly for a man who runs a base strategy."

Since entering White House, Trump has broken with trition set by his predecessors by t only refusing to release his tax returns but by waging a legal battle to keep m hidden. Times report suggests why that might have been so. It reported that many of Trump's top businesses are losing money, even as those losses have helped him shrink his federal tax bill to essentially thing.

Trump seems sure to face heavy financial pressures from ermous pile of debt he has absorbed. Times said president appears to be responsible for $421 million in loans, most of which will come due within four years. On top of that, a $100 million mortg on Trump Tower in New York will come due in 2022.