Read how much Trump paid -- or didn't pay -- in taxes each year

[Beachnutt]

CNBC
The amount of income, deductions and taxes paid by or refunded to former President Donald Trump while serving in the White House was detailed in a new report released Tuesday night.

The report reveals that Trump on his federal tax returns declared negative income in 2015, 2016, 2017 and 2020, and that he paid a total of $1,500 in income taxes for the years 2016 and 2017.
On their 2020 income tax returns, Trump and his wife Melania paid no federal income taxes and claimed a refund of $5.47 million, according to the report by the staff of the Joint Committee on Taxation.

snip
https://www.cnbc.com/2022/12/21/trump-income-tax-returns-detailed-in-new-report-.html

[ProudMNDemocrat]

1. Defrauding the Government of taxes due makes TDFG a CRIMINAL!

We all know where the Republican Party stands on Tax Fairness.....tax the Middle Class and poor...Leave the ultra-Rich alone!

If anything, the Ways & Means Committee need to re-examine how taxes are collected and by who needs to pay more based on their incomes by whatever means. Perhaps it is time once again to set a Top Marginal rate on the Millionaire/Billionaire class of say of 50% over a specific amount. State what that amount is. Revise Tax deductions on that class such as Private Jets, homes owned that collect property taxes from based on property values, legitimate expenses on businesses owned, etc. It is complex, I know.. The current tax laws allow for so many loopholes, it resembles a piece of Swiss cheese. Same laws should apply to the Corporate entities as well.

Thus frauds like TDFG, get away with making hundreds of millions/billions of dollars, writing off huge losses in the guise of loans rather than gifts, etc, all to AVOID paying taxes.

Those of us who run small businesses make sure we keep every receipt, record expenses, report profits or losses, as well as keep up to 7 years of tax returns if indeed we are audited. The same rules should apply to the TDFG and his ilk who believe paying their fair share of taxes are for others NOT of their class.

[MichMan]

2. Why didn't the committee refer criminal charges to the DOJ for tax evasion?

He clearly broke multiple tax laws with these fraudulent returns and they have the proof right in front of them.

[ProudMNDemocrat]

3. Perhaps they will. The DOJ should be able to get access to them at any time.

Knowing the obvious FRAUD, the DOJ will add this to their growing list of crimes. New York State will go after him for failure to pay State taxes as far as the TO is concerned. Other states as well where the orange cretin owns property connected to the TO. Bedminster is in New Jersey. There is a State Income Tax there I believe.

TDFG may think he is above the law like Al Capone thought. We know how Al Capone was brought down. Live high on the hog and pay NO Federal Taxes? TDFG needs to know that the con game is up.

[3Hotdogs]

4. Because they just got the returns and the committee had/has no more hearings scheduled.

And don't expect the next Congress to do anything.

[thesquanderer]

16. re:"He clearly broke multiple tax laws with these fraudulent returns...proof right in front of them"

You're presuming that to be the case. If such evidence it exists, it has not been released to the public. Nothing mentioned in the article is clearly fraudulent or illegal on its face.

[doc03]

6. "Only Little People pay taxes" I made a comment a few days ago about billionaires paying

no taxes to a MAGAt. He thought that was OK because they make jobs.

[SledDriver]

10. Shades of Leona Helmsley

[scarletlib]

7. Meanwhile the rest of us pay a hell of a lot more than that each year.

I will also bet that most of us don’t get refunds of millions of dollars. Our tax system is grossly unfair.

[MichMan]

8. Those in congress that created these tax laws need to be held accountable and voted out of office

[Emile]

9. So we been paying his share of taxes. Time

for him to pay us back what he owes us.

[Goodheart]

11. Unpopular opinion here: this type of bullshit self income and tax computation

is why I favor a national sales tax over an income tax.

Under my national sales tax, EVERY transfer of value, including stocks, bonds, real estate, artworks, yachts, inheritances, and so on, would be taxed at assessed rates, and basic incomes would be granted to everybody to cover housing and living expenses.

It would be a much easier system to enforce, the very rich would pay more, and everything would be much fairer.

[Emile]

14. Only one problem with a national sales tax over income tax.

The poor spend a greater percentage of their income than the rich.

[Goodheart]

18. Thus the guaranteed basic income part of the plan.

[The Jungle 1]

17. Have not studied your plan, however

Would you also tax food, clothing, education and healthcare?
If a local government paves a road would there be a tax? Would corporate welfare be taxed?
Do you have any links that describe this tax plan.
The method of taxation we have now is totally screwed up. The government takes our money and gives it out in corporate welfare.

[Goodheart]

19. Yes, but those would be refunded with a guaranteed basic income payment.

[oldsoftie]

22. Even something like Herman Cain's much derided "9-9-9" would be better

than what we have NOW. And it would certainly raise more money.
Just using Trump as an example he would have paid a TON more in taxes.

[oldsoftie]

20. I'm one thats been preaching a version of it for some time. Cant hide from it.

nd much less needed for the IRS
Go ahead & buy the Lambo; you'll pay the tax

[Disaffected]

28. Unpopular or not, such a plan makes a lot of sense.

It would be much more equitable and, efficient as it would eliminate the need for a huge number of tax lawyers, accountants, consultants and their support infrastructure. Tax cheating would also be reduced and easier to detect.

IMO it would have v little chance however of ever being legislated as the affected interests would put up formidable resistance.

As well as income tax, one can make a good case for eliminating the corporate tax system as well. A well thought out consumption tax would cover pretty much everything...

[The Jungle 1]

12. But But But.....

Reagan promised us it would all trickle down. It is gonna happen soon so just be patient.
Snark

[pansypoo53219]

15. we are still waiting for crumbs. tinkledown + no pee.

quid + no quo.

[pansypoo53219]

26. we are still waiting for crumbs. tinkledown + no pee.

quid + no quo.

[Beachnutt]

13. But he is under audit..

https://m.

&feature=youtu.be

[ok_cpu]

21. So, during this six year period

Last edited Wed Dec 21, 2022, 09:30 AM - Edit history (1)

He had taxable income of just under $26 million and pulled $3.6 million from the treasury? Even if you ignore the refund in 2020, his tax rate on $26MM was less than 7%.

Edit to ads that NYT days the 2020 refund was the return of estimated payments he'd made before his losses.

[oldsoftie]

23. No matter which partys in charge they simply will NOT change the tax code to make it better.

If you just focus on soaking the rich that will fail. The entire system HAS to go & be rewritten. It really wouldn't be that hard for some smart accountants to get rid of everything but a handful of deductions & have a minimum rate for business & personal.

[orthoclad]

25. The rich are the party in charge

That hypothesis explains a lot of the observable facts.

We managed to rein them in, in the past. Study FDR, the "class traitor".

[LaMouffette]

24. What's even more galling is that Trump and the Repubes still felt the wealthy needed a $1.5 trillion

tax break!!!

Poor, poor, poor Mr. Trump! Paying that $1,500 in income tax really was a horrible burden for you, I'm sure! So glad that this error was corrected in 2020 and that you paid NO federal taxes and got a 5.47 million refund!

And how good of you to ease the tax burden on your billionaire friends, too. So thoughtful, so kind!

[chriscan64]

27. What a lie matrix.

Lies about being audited, being a great businessman, and most likely about the amounts of losses resulting in multi-million dollar refunds. He lies about the returns, he lies on them and will lie about how these returns are somehow fake.