Trump’s taxes

Almost all US Presidents make their tax documents public before an election. Why?

• crimes

• financially stable

• connections to companies / foreign countries

Donald Trump was the first US President for 40 years to not release his tax documents. Why do you think he didn’t release them?

Popular theories:

• hide his true wealth

• the amount of tax he paid

• connections to foreign governments

• donations to charity

Trump didn't pay any income taxes in 10 of the last 15 years.

Why didn’t he need to pay any taxes?

• His businesses made huge losses in some years.

• In 1994 and 1995 he lost over $1.8 billion in total (190,110,600,000 yen)

• In 2008 and 2009 he lost $1.4 billion in total (147,875,000,000 yen)

Trump claims his lavish lifestyle as business expenses. His gardening fees, private jets, houses, and cars are all business expenses.

Is this legal?

Mr Trump paid an average $1.4 million dollars in income taxes from 2000 to 2017. The average US taxpayer in the same income bracket paid about $25 million dollars a year.

Why does Trump want people to think he is a successful businessman?

How did Obama make so much money when he became President?

sources:

• https://www.theguardian.com/us-news/2020/sep/28/hairstyling-donald-trump-taxes-numbers-us-president-finances

• https://www.thelondoneconomic.com/news/world-news/the-amount-obama-paid-in-federal-taxes-in-first-year-of-office-compared-to-trump-is-astonishing/28/09/

Answers: