The House Ways and Means Committee finally released Donald Trump’s tax returns from 2015-2020. The documents revealed that Trump paid far less than expected in taxes in the years he was in office. He reported significant losses every year, and the amount he paid in taxes reflected that.
The tax return documents are almost 6,000 pages, and it is clear that Trump used every trick in the book to keep his tax payments as low as possible.
He paid $641,931 in federal income tax in 2015, but in 2016 and 2017, he only paid $750. In 2020, he paid nothing at all.
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In 2018, however, he did pay almost $1 million in taxes and $133,445 in 2019. While those might seem to be astronomical amounts to us peons, it is, in fact, a very small percentage of Trump’s reported income.
Last Ditch Effort
In January, the House will transfer to Republican control, and the probe into Trump’s tax returns and the January 6th incident will likely cease.
Republicans have continuously claimed that releasing Trump’s tax returns to the public is an egregious invasion of privacy.
Although the IRS is supposed to conduct mandatory audits of the president’s tax returns, no audit was done until 2019, when the committee first requested the returns.
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Richard Neal, the Chairman of the Ways and Means Committee, took up the cause of seeking Trump’s tax returns when he became chairman in 2018.
His initial request for the returns was denied, but a ruling by the Supreme Court in November allowed for the release of the documents.
“A president is no ordinary taxpayer. They hold power and influence unlike any other American. And with great power comes even greater responsibility.”
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This article was produced by Career Step Up and syndicated by Wealthy Living.
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