THE STORY TRUMP’S TAX RETURNS TELL


By Akin Ojumu

The Ways and Means Committee of the United States House of Representatives has finally released to the American public a report on the Federal Income Tax returns declaration made by Donald J. Trump and his wife Melania Trump for the 6-year period from 2015 through 2020.

These are the highlights:

Trump and his wife, Melania, filed joint Federal Income tax Returns for married couples.

Tax Year 2015
Total Income: negative $31.7 million (i.e., declared a loss)
Taxable Income: $0
Federal Income Taxes Paid: $641,931

Tax Year 2016
Total Income: negative $31.2 million (i.e., declared a loss)
Taxable Income: $0
Federal Income Taxes Paid: $750

Tax Year 2017 (Trump as POTUS)
Total Income: negative $12.8 million (i.e., declared a loss)
Taxable Income: $0
Federal Income Taxes Paid: $750

Tax Year 2018 (Trump as POTUS)
Total Income: $24.4 million
Taxable Income: $22.9 million
Federal Income Taxes Paid: $999,466

Tax Year 2019 (Trump as POTUS)
Total Income: $4.4 million
Taxable Income: $2.97 million
Federal Income Taxes Paid: $133,455

Tax Year 2020 (Trump as POTUS)
Total Income: negative $4.69 million (i.e., declared a loss)
Taxable Income: $0
Federal Income Taxes Paid: $0
Tax Refund: $5.47 million

In the years leading up to his one-term presidency Donald J. Trump and his wife declared multiple years of income losses and paid less than $650,000 in Federal Income taxes in total. While in office, the couple’s income seemed to improve somewhat, and they paid a total of $1.1 million in Federal Income Taxes in 2017 and 2018 combined. 

As the Trumps were about to vacate the White House, though, their income once again seemed to have reverted to the usual pre-presidency pattern of losses. In his final year as POTUS, the Trumps declared a loss in income of $4.7 million, paid zero in taxes, and received a hefty tax refund of $5.47 million.

Donald Trump often boasts he is a self-made multi-billionaire and savvy businessman who built a highly successful vast business empire from scratch with little or no debts. The released Federal Income Tax returns, where Trump and his wife declared multiple years of income losses, paid no taxes, and even received a whopping $5.47 million tax refund, provides the American public and those heavily drunk on the MAGA Kool-Aid a rare opportunity to peer behind the curtain of Trump’s bombasts. 

Given the information in the released Federal Income Tax returns, a fair minded and objective person can reasonably draw a conclusion on Trump’s claims about his wealth and business acumen if we, 1) assume Trump was truthful in the tax declarations, or 2) assume Donald Trump’s tax return declarations were full of lies and fabrications.

(1) Assuming Trump Tax Returns Declarations were Truthful
Donald Trump is barely a millionaire, much less a billionaire as he claims. The business acumen is all a façade meant to deceive the gullible. He’s an all hat and no cattle inept businessman who is always underwater and can’t seem to ever break even. His businesses are crushed under a mountain of debt, and they all run on fumes. 

(2) Assuming Trump Tax Returns Declarations were Fraudulent
Donald Trump is a liar, a crook, and a tax dodger who has defrauded American taxpayers of millions of dollars in taxes. This man lacks the character and temperament required of a public office holder. As a tax cheater, Donald Trump belongs in jail. For defrauding the American taxpayers, this highly incorrigible man should be locked up and the keys thrown away.

Let him that readeth decide which of these two stories seem more plausible?

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