John,
The recent New York Times report, detailing Donald Trump’s tax returns, is a treasure trove.
In addition to learning how Trump uses loopholes to dodge taxes―paying just $750 in federal income taxes in both 2016 and 2017―we also learned that “he is personally responsible for loans and other debts totaling $421 million, with most of it coming due within four years.”[1]
Now, national security experts are raising the alarm about how Trump’s massive debt could be a national security threat.
Senator Elizabeth Warren said:[2]
“He may be vulnerable to financial blackmail from a hostile foreign power and God knows what else.”
Trump’s tax returns also show he may be breaking the law. He wrote off as business expenses personal costs like the legal defense of his son in the Russia inquiry and his costly hair care. He paid himself and apparently his daughter Ivanka hundreds of thousands of dollars as “consultants,” even though they both already worked for the Trump Organization, thus artificially upping costs to lower tax bills.[1]
Tonight, in the first presidential debate between Joe Biden and Donald Trump, we saw one candidate who was raised in a working-class family in Scranton, PA who’s paid his fair share of taxes―a 30% cumulative tax rate between 2000 – 2017, according to an Americans for Tax Fairness Action Fund report.[3]
We saw another candidate who paid $0 in federal income taxes in 11 of those 18 years, after having been given more than $400 million in today’s dollars by his father to begin his real estate empire.[4]
Donate today to educate the American people about how Donald Trump uses tax loopholes and questionable accounting practices to dodge taxes. And how “regular Joe” Biden pays his fair share and will make sure millionaires and billionaires do too.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
When Donald Trump and the ultra-rich, and the corporations they lead, pay their fair share in taxes, we’ll be able to invest in our country’s future including our roads, schools, healthcare and so much more.
Together, we’re holding Donald Trump accountable to the American people.
Thank you,
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] “Long-Concealed Records Show Trump’s Chronic Losses And Years Of Tax Avoidance,” New York Times, Sept. 27, 2020
[2] “Ethics experts see national security concern in Trump’s debt,” Associated Press, Sept. 29, 2020
[3] “While Billionaire Trump Was Dodging Millions In Taxes, ‘Regular Joe’ Biden Was Paying His Every Year,” Americans for Tax Fairness Action Fund, Sept. 29, 2020
[4] “Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father,” New York Times, Oct. 2, 2018
