The release of President Trump tax forms has gained crazy fame since its release on Tuesday. For those who don’t know, Trump paid $38 million in federal income taxes and reported income of $150 million in 2005. His tax rate was determined to fall just under 25% which is ABOVE what most wealthy people pay.
According to the Tax Policy Center, the average effective income tax for U.S. Households was 8.8% in 2005. So paired up against the average American home, he paid triple the taxes. However, we all know that Trump was clearly not an average home or person for that matter.
Trump’s massive income was well about the average and above average person. Granted, he has worked hard to build that type of income and become the 1%. His income was even added after he added in allowances for past losses. But with the income he had and the taxes he paid, Trump still paid more than the rest of the 1% people.
Breitbart reported on the 1% saying:
“The average effective rate for the top 1% of income earners in 2005 was 19.7 percent, several points lower than the 25% rate Trump appears to have paid, according to the Tax Policy Center. In other words, the tax return shows that Trump was one of the top TAXPAYERS back in 2005.”
So what does this mean? This means that while everyone is assuming the worst about Donald Trump, he actually paid more than the average person in his bracket of wealth. There has been theories that Trump knew no one would find anything all along, but used the taxes to distract from things like the health care reform that’s happening. This is just one theory.
What do you think about Trump’s recent tax release? Do you think they’re true? Let us know in the comments below!