The New York Times, and CNN, and other liberal media (but I repeat myself) and crowing that Prresident Trump paid little or no income tax for the past several years.
In both the year he won the presidency and his first year in the White House, Trump paid just $750 in federal income taxes, the Times reported.
I once had an income tax professor tell me that if I were never audited, then I was paying way more taxes than I owed. The IRS doesn't audit you when you are over-paying. Be that as it may.
From what I understand, President Trump has others watching over his business while he's in the White House, and he takes no salary. He does have a minor child, but he's living in government housing, so there is that consideration.
If the main ain't making any money, he doesn't have to pay much income tax. That's a pretty good deal.
This whole thing is a tempest in a teapot.
Anyone with money doesn't pay a lot income tax. They have the money to pay someone to know the tax laws and structure their financial life in such a way as to not have to pay taxes. That includes the a-holes that are bitching about whether or not Trump is paying taxes or not. Even I, who lives on a fixed-income below poverty line, only withdraw just enough out of my IRA to stay below the poverty line for tax reasons. There's a difference between tax avoidance and tax evasion.
ReplyDeleteThis was to be the "October surprise" to get the voters riled up against President Trump, and thereby allow Biden to "win". By publishing that he only paid $750 in taxes, low info voters will look at how much they paid, and say, "He's cheating."
ReplyDelete