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Wednesday, March 15, 2017
Donald Trump Paid At A Higher Effective Federal Income Tax Rate Than Bernie Sanders And Barack Obama
The big story of the night is President Trump’s 2005 tax returns. As it turns out, he paid $38 million in taxes on over $150 million of income. Zero Hedge broke this down– he paid “$5.3 million in regular federal income tax, and an additional $31 million of ‘alternative minimum tax,’ or AMT.”
It’s an impeachable offense, clearly.
“Before being elected President, Mr. Trump was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required,” the White House said in a statement. “That being said, Mr. Trump paid $38 million dollars even after taking into account large scale depreciation for construction, on an income of more than $150 million dollars, as well as paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes and this illegally published return proves just that.”
So, what’s the big takeaway? Are we supposed to feel angry? Outraged? Relieved? I have no idea. Trump paid what he was legally obliged to pay. Not seeing how that’s any sort of bombshell. But I’m fully expecting MSM to whine about his tax rate tomorrow. It’s coming, mark my words. That being said, we might as well get this out of the way.