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How D. Trump’s Taxes Would Have Been Used?
CNN's calculation is just a guesstimate at this point because unlike every presidential candidate since Tricky Dick, D. Trump is to embarrassed to make his taxes public.
Donald Trump's tax calculator
http://www.cnn.com/profiles/eli-watkins
Eli Watkins and Joyce Tseng, CNN
September 29, 2016
Washington (CNN)
Here's a hypothetical look at where Donald Trump's taxes would have gone, assuming he paid them.
Hillary Clinton insinuated at the first presidential debate that Trump has not paid his share in taxes.
"Maybe he doesn't want the American people, all of you watching tonight, to know that he's paid nothing in federal taxes," Clinton said.
Trump jumped in briefly, saying, "That makes me smart."
The questions about his contribution to the federal coffers have emerged because he has steadfastly refused to release his tax returns. He has claimed he cannot provide them while under audit, an excuse that has tax lawyers scratching their heads. He did say he would release the returns if Clinton were to provide tens of thousands of emails deleted from her private system during her tenure as secretary of state.
<snip>
The Wall Street Journal estimated his pretax income over 19 months in 2014 and 2015 would have been $160 million, so for speculative purposes, let's use that total and assume it's all "passive income," like an owner would collect vis-à-vis rents.
Using H&R Block's tax calculator, someone with a $160 million income could owe $69,370,931 in federal taxes.
<snip>
Where would all this hypothetical tax money go if and when the government collected it?
<snip>
$19.1 million to healthcare
$16.6 million to defense
$12.6 million to "job and family security" (e.g. federal and military retirement programs, food assistance like SNAP, Temporary Assistance to Needy Families, or TANF)
$6.3 million paying down interest on the national debt
$4.1 million for veterans benefits
$3.6 million education
$1.4 million for immigration and law enforcement
$1.3 million for foreign aid and other international affairs
$1.1 million for energy and environmental considerations
$783,891 for NASA and other scientific endeavors
$672,898 for agriculture
$2.9 million for everything else, including disaster relief, community development and the milieu of other government programs
<snip>
The national debt is currently on course to reach $20 trillion.
D. Trump is just one billionaire that's hogging the money that could be used for the programs on the above list. So just where does the money come from to pay for our schools, veterans, national defense, etc? Unless you have a creative accountant like D. Trump's, you are, you and the lenders - you know, the Chinese, Japan and other foreign countries including Saudi Arabia and...
.
How D. Trump’s Taxes Would Have Been Used?
CNN's calculation is just a guesstimate at this point because unlike every presidential candidate since Tricky Dick, D. Trump is to embarrassed to make his taxes public.
Donald Trump's tax calculator
http://www.cnn.com/profiles/eli-watkins
Eli Watkins and Joyce Tseng, CNN
September 29, 2016
Washington (CNN)
Here's a hypothetical look at where Donald Trump's taxes would have gone, assuming he paid them.
Hillary Clinton insinuated at the first presidential debate that Trump has not paid his share in taxes.
"Maybe he doesn't want the American people, all of you watching tonight, to know that he's paid nothing in federal taxes," Clinton said.
Trump jumped in briefly, saying, "That makes me smart."
The questions about his contribution to the federal coffers have emerged because he has steadfastly refused to release his tax returns. He has claimed he cannot provide them while under audit, an excuse that has tax lawyers scratching their heads. He did say he would release the returns if Clinton were to provide tens of thousands of emails deleted from her private system during her tenure as secretary of state.
<snip>
The Wall Street Journal estimated his pretax income over 19 months in 2014 and 2015 would have been $160 million, so for speculative purposes, let's use that total and assume it's all "passive income," like an owner would collect vis-à-vis rents.
Using H&R Block's tax calculator, someone with a $160 million income could owe $69,370,931 in federal taxes.
<snip>
Where would all this hypothetical tax money go if and when the government collected it?
<snip>
$19.1 million to healthcare
$16.6 million to defense
$12.6 million to "job and family security" (e.g. federal and military retirement programs, food assistance like SNAP, Temporary Assistance to Needy Families, or TANF)
$6.3 million paying down interest on the national debt
$4.1 million for veterans benefits
$3.6 million education
$1.4 million for immigration and law enforcement
$1.3 million for foreign aid and other international affairs
$1.1 million for energy and environmental considerations
$783,891 for NASA and other scientific endeavors
$672,898 for agriculture
$2.9 million for everything else, including disaster relief, community development and the milieu of other government programs
<snip>
The national debt is currently on course to reach $20 trillion.
D. Trump is just one billionaire that's hogging the money that could be used for the programs on the above list. So just where does the money come from to pay for our schools, veterans, national defense, etc? Unless you have a creative accountant like D. Trump's, you are, you and the lenders - you know, the Chinese, Japan and other foreign countries including Saudi Arabia and...
.
