How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year
Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share.
Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public. According to data reported by The New York Times, Trump only paid $750 in federal income taxes in 2016 and 2017 — less than the average of $819 paid by households making over $20,000 per year in 2017.
According to data from the IRS, Americans in the most common income bracket earned an adjusted gross income between $50,000 and $75,000 in 2017 and paid an average income tax of $5,077.
According to The New York Times, the former president’s various businesses lost hundreds of millions of dollars over the previous 20 years, allowing him to reduce his federal tax obligation to almost nothing.
https://finance.yahoo.com/news/donald-trump-paid-less-taxes-134111237.html