First 2020 Presidential Debate: on Tax Reform


Donald Trump: I pay millions of dollars in income taxes, not $750

Q: There's a report that in 2016, the year you were elected president, and 2017, your first year as president, that you paid $750 a year in federal income tax each of those years. I know that you pay a lot of other taxes, but I'm asking you this specific question. Is it true that you paid $750 in federal income taxes each of those two years?

TRUMP: I paid millions of dollars in taxes, millions of dollars of income tax. And let me just tell you, there was a story in one of the papers that paid-

BIDEN: Show us your tax returns.

TRUMP: I paid $38 million one year, I paid $27 million one year.

BIDEN: Show us your tax returns.

TRUMP: You'll see it as soon as it's finished [referring to an ongoing IRS audit, which Trump has claimed as a reason to not release his tax returns]; you'll see it.

Source: First 2020 Presidential Debate, moderated by Chris Wallace Sep 29, 2020

Joe Biden: Eliminate Trump tax cuts; invest in people who need help

The tax code that put [Trump] in a position that he pays less tax than on the money a school teacher makes is because of him. He says he's smart because he can take advantage of the tax code. And he does take advantage of the tax code. That's why I'm going to eliminate the Trump tax cuts. And make sure that we invest in the people who in fact need the help. People out there need help.
Source: First 2020 Presidential Debate, moderated by Chris Wallace Sep 29, 2020

  • The above quotations are from First Presidential Debate, Case Western Reserve University, Sept. 29, 2020.
  • Click here for definitions & background information on Tax Reform.
  • Click here for other issues (main summary page).
  • Click here for more quotes by Joe Biden on Tax Reform.
  • Click here for more quotes by Donald Trump on Tax Reform.
2020 Presidential contenders on Tax Reform:
  Democrats running for President:
Sen.Michael Bennet (D-CO)
V.P.Joe Biden (D-DE)
Mayor Mike Bloomberg (I-NYC)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Gov.Lincoln Chafee (L-RI)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Amy Klobuchar (D-MN)
Gov.Deval Patrick (D-MA)
Sen.Bernie Sanders (I-VT)
CEO Tom Steyer (D-CA)
Sen.Elizabeth Warren (D-MA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)

2020 Third Party Candidates:
Rep.Justin Amash (L-MI)
CEO Don Blankenship (C-WV)
Gov.Lincoln Chafee (L-RI)
Howie Hawkins (G-NY)
Gov.Gary Johnson(L-NM)
Howard Schultz(I-WA)
Gov.Jesse Ventura (I-MN) 		Republicans running for President:
Sen.Ted Cruz(R-TX)
Gov.Larry Hogan (R-MD)
Gov.John Kasich(R-OH)
V.P.Mike Pence(R-IN)
Gov.Mark Sanford (R-SC)
Pres.Donald Trump(R-NY)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld(R-MA & L-NY)

2020 Withdrawn Democratic Candidates:
Sen.Stacey Abrams (D-GA)
Mayor Bill de Blasio (D-NYC)
Sen.Kirsten Gillibrand (D-NY)
Sen.Mike Gravel (D-AK)
Sen.Kamala Harris (D-CA)
Gov.John Hickenlooper (D-CO)
Gov.Jay Inslee (D-WA)
Mayor Wayne Messam (D-FL)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Rep.Tim Ryan (D-CA)
Adm.Joe Sestak (D-PA)
Rep.Eric Swalwell (D-CA)
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Page last updated: Oct 07, 2020