Trump Taxes Revealed: You Probably Paid More Than He Did
Donald Trump's tax returns have been revealed and you probably paid more than the 'billionaire.'
Hard-working Americans pay their fair share of taxes every year, but some folks use loop holes and other methods to pay the least amount that they can, including Donald Trump. According to WIVB, Trump paid only $750 in taxes in 2016. Not $750,000, seven hundred and fifty dollars! In the same year he ran for president of the United States, his federal tax bill was definitely less than what I paid and more than likely, you too.
In 2017, his first year as President, Trump again only paid $750 in federal taxes. The New York Times report also revealed that Trump paid no federal income taxes for 10 years. The losses he claimed offset his tax bill, which is why he paid no taxes. The The New York Times says,
"His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes."
Trump, who promotes "America First," actually paid more money to foreign governments than he did to the U.S. government. The Times report shows that he paid thousands and hundreds of thousands in taxes to other countries.
"In 2017, the president’s $750 contribution to the operations of the U.S. government was dwarfed by the $15,598 he or his companies paid in Panama, the $145,400 in India and the $156,824 in the Philippines."
The New York Times report is based on decades of tax return data. The Times says the data shows a variety of write-offs, including the costs of a mansion, a criminal defense attorney and more.
"The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow."