Furious Donald Trump Truth Vid Ironically Talks ‘Hard Working Americans’ as His Taxes Reveal He Often Pays $0
Donald Trump has been fighting to keep his taxes a secret for a long time. But that fight is over
Donald Trump has been fighting to keep his taxes a secret for a long time.
But that fight is over now, after the House Ways and Means Committee voted this week to make full (redacted) versions of his taxes public.
Yesterday, the Ways and Means Committee and the Joint Committee on Taxation (JCT) released reports providing context on the former President’s filings.
While it’s unclear from what’s been released so far if the long-feared foreign obligations are evident somewhere in Trump’s taxes, what is clear is that the former President often paid nothing in taxes. And has even claimed a massive million-dollar refund.
Today, Trump took to Truth Social in a tone-deaf video telling Republicans to vote “no” on an upcoming trillion-dollar omnibus spending bill. In the video, Trump appealed to the needs of “hard-working Americans,” while sounding completely oblivious to what exactly that means.
The contrast and timing could not have been worse.
Donald Trump Hopes Omnibus Spending Will Shift Focus From his Taxes
Today, Trump posted a two-and-a-half minute video to Truth Social where he blasted Republicans for working with Democrats on a $1.7 billion omnibus spending bill.
The video came as news broke that the Senate had reached a deal on the bill, which will last-minute avert a government shutdown.
The Washington Post reports, “The compilation of long-stalled appropriations bills, known as an omnibus, would provide nearly $773 billion for domestic programs and more than $850 billion for the military, covering expenses through the 2023 fiscal year, which concludes at the end of September. Republicans had insisted on robust Pentagon funding in months-long talks with Democrats, who secured some — but not all — of the health, education, labor and economic spending they wanted.”
The bill must be passed by midnight Friday if the government shutdown is to be averted.
Although Congress seems to be in accord (grudgingly) and it’s all but a done deal, Trump took one last opportunity to throw his opinion into the ring, perhaps hoping that people’s ire focused on the omnibus bill will distract from recent revelations into his taxes.
Trump’s video started with the former POTUS saying, “Every single Republican should vote ‘no’ on the ludicrous, unacceptable 1.7 trillion dollar omnibus spending bill. It’s a disaster for our country, and it also happens to be a disaster for the republican party because they can stop it.”
Trump accused Democrats of ramming the bill through in the “dark of night” without giving anyone a chance to read it.
Trump also suggests that it’s foolish to pass just before Republicans “take control of Congress” next year – but of course, they aren’t. Republicans are only taking a slim majority in the House, but the Senate remains in Democrat hands.
At one point, Trump also mentions that the bill pushes special interests “without lifting a single finger to solve the problems that matter to hard-working families in America.”
It’s a bizarre statement coming from someone whose taxes just revealed he often pays $0 in income tax – compared to those hard-working families who pay their taxes.
Donald Trump’s Taxes Reveal What He Pays – and What He Doesn’t
Donald Trump paid $1.1 million in federal income taxes in his first three years as president, and paid no taxes in 2020, according to new figures in a House report. https://t.co/WJjoi0XUBE pic.twitter.com/VJXoPBFBgl— The New York Times (@nytimes) December 21, 2022
We now know generally what Trump’s taxes have revealed.
Here are a few takeaways from the JTC’s report ahead of the full tax releases expected today or tomorrow:
- Trump paid $0 in federal income taxes for several years. Per The Hill, “Trump’s tax liability fluctuated wildly in the years his returns were reviewed by the Ways and Means Committee and by the JCT. The JCT found that Trump paid nothing in tax in 2020, $558,000 in tax in 2019, $5.3 million in tax in 2018 and nothing again in 2017. His taxable income in these years was also a roller coaster ride. Trump had $0 in taxable income in 2020, $3 million in taxable income in 2019, $23 million in 2018 and $0 again in 2017. These ups and downs were made possible by the strategic distribution of business losses, which soak up income levels and with them tax liability, tax experts say.”
- The IRS is supposed to audit a president and vice president’s taxes every year they’re in office. But Trump’s taxes were only audited once – after the House Ways and Means Committee requested access to his taxes.
- Republicans are saying that Trump’s taxes are being released as a political weapon. However, every presidential candidate and President before Trump (and ostensibly after) have released their taxes willingly.
- Trump made money through investments. While his companies kept posting losses, he was able to use those losses to shield him from tax liability.
- In 2020, Trump and his wife claimed over $5.4 million in tax refund.
Compare this to average Americans who are often nickel-and-dimed for their income taxes, and it paints an unflattering picture of someone who is out of touch with what “hard-working Americans” actually care about.
Trump may be hoping that pushing the omnibus bill will provide a distraction as the House Ways and Means Committee prepares to release Trump’s full taxes for the past few years, but instead it makes him look callous – and tone-deaf.