Trump’s Shocking Tax Records
By: Gabriel Rodriguez
Photo by: Philip Taylor PT
Many people might have heard of Trump’s tax records, over the past 18 years that were examined, 11 of them had no federal income taxes paid. The year after he became president, he paid $750 in taxes. It is startling that our president cannot be held to the same standard as every other president we have had.
Every president before has paid their federal income taxes. Obama and George W. Bush both paid $100,000 in income taxes every year and would pay even more sometimes. It begs the question, why should our president now get away with doing this when everyone else has to pay their taxes?
The president of The United States of America should be held to the same standard as citizens at the bare minimum regarding taxes and should be a good example for the American people. They are supposed to be a good role model for the citizens. Presidents impact the lives of Americans greatly and set a precedent for future presidents.
The fact that the role model for Americans did not pay his taxes for 11 of 18 years and asked the Supreme Court to stop a subpoena to release his tax records is startling. Especially when the citizens have to pay their taxes every year. We all will have to pay our taxes in the future and our parents now pay taxes.
Donald Trump gets away with this because he classifies much of his spending on personal lifestyle as the cost of business. Nearly 20% of all of his businesses have 20% of the income used for consultation fees. Trump’s private records show that his company paid $747,622 to an unknown consultant for the hotel projects. Ivanka Trump received an identical amount through a consulting company in which she co-owned which was found out due to Ivanka Trump’s public disclosure forms.
All this says a lot about the ways that he operates his businesses. In fact, many of the highest-profile Trump businesses lose large amounts of money. The Washington hotel that Trump opened up has lost more than $55 million. You might be asking now, where does he get his money?
The answer to that question is Trump gets most of his money from his brand. He markets his image and firms pay for the right to use his name. This led to the show called “The Apprentice” which helped elevate his brand. Even then, by 2015, the money made from the show began to decline and Trump hasn’t seemed to pay any of the principles of the mortgage on Trump Tower.
$100 million is due by 2022 and his financial records indicate that he only has around $873,000 to spend. Trump is not the ruthless, successful businessman that he markets himself as. He is far from it as he is running out of money and is trying to get out of paying taxes. His campaign for presidency served to increase his brand and his presidency helped his business as politicians, lobbyists, and foreign officials join his clubs or stay at his properties.
People should care about what he has done and should hold him accountable for his actions. Presidents should be held to a higher standard as they are role models for the American people. All of us will have to pay taxes in the future and our parents now are paying taxes.
To make a change, the best thing we can do is to inform the people that you know about what Donald Trump has done. Get people to be informed about whom they are voting for as many people may not even care at all and don’t vote or don’t know whom they are voting for due to them being misinformed. We should combat the misinformed with information about whom they are voting for as the president of the United States of America.