Trump Paid $38M in Taxes, Made More Than $150M in 2005

Trump Paid $38M in Taxes, Made More Than $150M in 2005

WAAR-DUHOK:

President Donald Trump earned more than $150 million and paid $38 million in income taxes in 2005, paying a roughly 25 percent effective tax rate thanks to a tax he has since sought to eliminate, according to highly sought-after tax documents disclosed Tuesday night.

The two 1040 pages, which don’t include any itemized pages, from Trump’s federal tax return, the first federal return to be seen by the public, show the then-real estate mogul also reported a business loss of $103 million that year, although the documents don’t provide detail. The forms show that Trump paid an effective tax rate of 24.5 percent, a figure well above the roughly 10 percent the average American taxpayer forks over each year, but below the 27.4 percent that taxpayers earning 1 million dollars a year average, according to data from the Congressional Joint Committee on Taxation.

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