For months many of President Donald Trump’s political opponents and have suggested that Trump refused to release his tax returns because the documents would indicate that the billionaire businessman hadn’t paid his “fair share” in taxes or that he had special interests with Russia. This led to a nationwide movement that marches today to demand Trump’s tax returns.
This narrative was dealt a serious blow March 15, 2017 when portions of Trump’s 2005 tax returns were published, showing that Trump’s effective federal tax rate during that year was 25 percent. A lot of Americans are either unaware of this news, or simply choose not to believe reality.
Trump’s 25 percent federal tax rate in 2005 was higher than former President Barack Obama’s 18.7 percent tax rate in 2014, former GOP standard bearer Mitt Romney’s 14.1 percent tax rate in 2011, and even the self-avowed Democratic socialist and former Democratic presidential candidate Senator Bernie Sanders 13.5 percent tax rate in 2014.
The comparison is surprising, to say the least, given that Sander’s most popular talking points while he was running for president was making the rich pay their “fair share.”
During the first Democratic primary debate held in Las Vegas in October 2015, Sanders blasted Trump and his “billionaire friends,” suggesting they did not pay enough in federal income taxes. “Let me tell you, Donald Trump and his billionaire friends under my policies are going to pay a hell of a lot more in taxes today – taxes in the future than they’re paying today” Sanders continued.
Ironic isn’t it? He paid about half as much in 2014 as Trump’s 2005 tax rate. What are your thoughts? Comment below!