Donald Trump might have gone decades without paying taxes—but he’s not afraid of telling you to pay yours.
Here’s what we know about Trump’s taxes.
There are only 37 days left till the election, and Donald Trump is still refusing to release his tax returns. But the New York Times dropped a bombshell last night: They uncovered part of his 1995 tax return and reported that Trump—who promises to run America like he runs his businesses—declared a $916 million loss in 1995.
This means that it’s entirely possible, perhaps even likely, that he avoided paying federal income taxes for 18 years, paid nothing or almost nothing for at least five years, and only paid income taxes in as few as three years.
Here’s everything we know about Trump’s taxes—keeping in mind that he’s the first major party nominee since 1976 to not release his own returns.
- As the New York Times reported, “Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years.” According to experts, this means that he would have been able to cancel out $50 million in taxes each year over that period.
- Before the New York Times report, we knew of five years in which Trump paid nothing, or almost nothing, in taxes:
- In 1978, 1979, and 1984, Trump paid $0 in federal income taxes.
- In 1991 and 1993, Trump paid nothing or close to nothing in federal income taxes.
- There are only three years in which we know for sure that Trump paid taxes: 1975, 1976, and 1977.
Even though all the evidence we have now suggests that Trump likely avoided paying taxes for more than two decades, he’s been quite willing to share lots of opinions about taxes for years. Just take a look at some of the things he’s tweeted:
Criticizing the president for his 20.5 percent tax rate …
Or staging a photo op with thousands of pages of “tax returns” …
Or asking for “lower taxes,” so we could “stop wasting money on global warming” (which, by the way, Trump has called a “hoax”) …
Or criticizing the “half of Americans” who he claimed didn’t pay taxes …
After the first presidential debate, a prescient Joe Biden decided to spend a moment discussing this issue: “[Trump] acknowledged that he didn’t pay taxes because, he said, he’s smart. Tell that to the janitor here who’s paying taxes. Tell that to my dad, who, when he was alive, busted his neck working 60 hours a week, paid all his taxes.”
Because this is what the rest of us pay for with our tax dollars:
Flaunting the fact that you don’t pay taxes? “It angers me,” Biden says. If you feel that way too, make sure Trump never gets near the White House: Chip in to Hillary’s campaign.