The first presidential debate between Joe Biden and Donald Trump is just hours away and Trump’s taxes will definitely be a topic. Right on time, Biden and Sen. Kamala Harris released their 2019 tax returns and they paid a whopping amount compared to Trump in 2016 and 2017.
In a bombshell report from the New York Times, Trump only paid a measly $750 in federal income tax the year he won the election in 2016 and in 2017.
In 2016, PolitiFact confirmed Harris and her husband paid $516,469 in federal tax income, which is 680 percent more than Trump.
As for 2019, according to CNBC, “Harris and her husband, attorney Doug Emhoff, reported $3,018,127 in taxable income, the majority of it via Emhoff’s partnership at the global law firm DLA Piper. They paid federal income taxes of $1,185,628, or an effective tax rate of 39%.”
This is approximately 1580 percent more than Trump in 2016.
Of course, Trump has not released his 2019 taxes.
In 2019, Biden and his wife, Jill, had a federal tax bill of $299,346, which is nearly 400 percent more than Trump.
The New York Times reports that while Trump initially paid $95 million in taxes over 18 years, he recovered $72.9 million of it through a federal tax refund. He also reportedly gained $21.2 million in state and local refunds, which are usually based on federal filings.
In 17 years, Trump only paid an average of $1.4 million in federal income tax each year, which is much lower than the average of $25 million each the top .001 percent of earners paid out over the same timeframe.
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