swordfish Posted December 21, 2022 Share Posted December 21, 2022 So the former President's tax returns are now public, but the most important (IMHO) part of the returns is being largely overlooked, swept aside, not reported, or simply ignored......The fact that his net worth declined as President. In case any one wonders, I also included a report on the past Presidents - whose net worth actually increased (substantially) https://nypost.com/2022/12/21/trumps-claimed-negative-income-in-four-of-six-years-between-2015-2020-report/ The tax returns of former President Donald Trump and his wife Melania show they reported negative income in four of the six years between 2015 and 2020, according to a report. In three of those years, the Trumps reported income tax liability of $750 or less, the Wall Street Journal reported. The House Ways and Means Committee voted 24-16 along party lines Tuesday evening to release the Trumps’ tax returns for the years 2015 through 2020 following a legal battle that began in 2016. The full release of the returns is expected in the coming days after all personal information is redacted from them. In the six-year period covered by the returns, the Trumps’ adjusted gross income totaled negative $53.2 million and their total federal tax liability was $4.4 million, the report said. The Trumps reported positive adjusted gross income in only two of those six years — $24.4 million in 2018 and $4.4 million in 2019, according to the Journal. The Trumps paid roughly $1 million in taxes in 2018 and $133,445 in 2019, according to an analysis by the New York Times. In 2020, as the coronavirus pandemic raged across the country, the Trumps reported a loss of $4.8 million and paid $0 in federal taxes. Here is the data on the Presidents since Jimmy Carter. https://blog.cheapism.com/what-presidents-are-worth/#slide=14 Donald Trump Before: $3 billion After: $2.3 billion Barack Obama Before: $1.3 million After: $70 million George W. Bush Before: $20 million After: $40 million Bill Clinton Before: $1.3 million After: $241.5 million George H.W. Bush Before: $4 million After: $23 million Ronald Reagan Before: $10.6 million After: $15.4 million Jimmy Carter Before: $2.3 million After: $10 million Link to comment Share on other sites More sharing options...
Impartial_Observer Posted December 21, 2022 Share Posted December 21, 2022 Who wrote the tax code? Link to comment Share on other sites More sharing options...
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