Recent tax returns made by Donald Trump have become public and unlike previous presidents (or Joe Biden who is running against him) who have paid thousands of dollars or even over one million dollars, the most Trump has paid in any year of the past 15 was $750.
For what it is worth, a two income family that earned just over $50k pay $750 and Trump's net worth is estimated at 2.5 billion.
To me, there are three ways he would only need to pay that:
1) The tax code allowed it. As someone who changed where he stopped for morning work supplies because a city increased their sales tax by one percent, I can understand anyone wanting to pay less.
If anyone can have that much money and can only pay so little, that is a problem with the tax code that should be fixed. Someone who takes advantage of that has zero incentive to change it.
2) Fraudulent return. No doubt someone will be scrutinizing the details of the returns and if something illegal was done, hoping it will be audited and repaid with interest.
3) He has lost money. As income is subject to tax, it is possible someone who has lost enough can write off losses to the point where no taxes would be assessed. That to me could be the worst case.
First off, Trump has claimed business expertise was his forte and why would someone who failed so badly in the real world be suitable to run the country?
Also, has his financial situation effected how he runs the country? Are the trips to golf at his resort a way to generate income? Are policies made just to placate his creditors be it corporations or countries?
There are many who support Trump because he hurts those that are not cis white men by incarceration, medical sterilization, and removing laws that protect their lives or livelihoods, while supporting those who choose to intimidate and harm non cis white men.
I wished they would ignore that and realize what he is doing.
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