For months now, there has been rampant speculation about what may be hidden in Donald Trump’s tax returns. Trump claims he cannot release then because he’s being audited by the IRS. The IRS says any taxpayer is free to release his or her tax documents, so Trump’s excuse doesn’t hold water.
But while some have said Trump might be trying not to show controversial investments he’s made, or his real net worth–which experts say is very likely much less than he claims–up until now no one has gotten to the most likely reason Trump is so reluctant to share his tax information: Because he doesn’t pay any taxes.
Pulitzer Prize-winning investigative journalist David Cay Johnston writes in USA Today:
“The big story is not the true size of his wealth, but about how Congress has turned the income tax into a source of massive wealth for many of the richest Americans, including Trump.”
Indeed, Johnston says, Trump may not have paid any income taxes for the past several years, which would mean that he is making out like a bandit while seeking to become President and receive taxpayer money as he sits in the Oval Office.
Johnston explained how wealthy businessmen–especially those in real estate–are able to depreciate the value of their properties, and how this contrasts with the average wage earner:
“To understand how reporting a negative income can be profitable, take a look at your pay stub. If Congress gave you a deal similar to Trump’s, instead of the government deducting taxes from your paycheck, you would keep that money — like an interest-free loan — and could use it to make more money.”
And the real travesty in how the tax system is now structured to make sure the rich keep as much as possible is the real issue we should be discussing, Johnston maintains:
“The big story in Trump’s tax returns is that Congress has created two income tax systems, separate and unequal. One system burdens most Americans. The other enriches the donor class.”
So while Trump loves to say the middle class has gotten the shaft over the years while contributors get sweet tax breaks, it turns out that Trump himself is benefitting and letting others foot the bill for his rampant, predatory deals.
Bottom line: Trump is a rich guy who is really just a bum, freeloading off the dime of every working man and woman in the country. But are his brain-dead supporters even willing to hear the truth?
Featured Image Via Flickr available under a Creative Commons Attribution-Noncommercial license
