Monday, October 3, 2016

Trump Not Paying Taxes - Our Cost of Him Being a Tax Deadbeat

Here's a fun exercise. Some back of the napkin math based on some assumptions.
Let's assume:
  • Trump's income in 2015 was the $557M that he reported on his financial disclosure.
  • Trump paid 0% effective income tax in 2015.
What if Trump had paid Clinton's effective tax rate of 34.2%?
Well... he would have paid $190.5M in taxes. Which would have gone to the below:
  • $48.4M to Defense
  • $54.7M to Healthcare
  • $26.1M to Federal Debt Service
  • $15.2M to Unemployment & Labor
  • $11.2M to Veterans Benefits
  • $8.8M to Food & Agriculture
  • $6.9M to Education
  • $5.5M to Government
  • $3.6M to Housing
  • $3.0M to Energy & Environment
  • $2.9M to International
  • $2.3M to Transportation
  • $2.1M to Science
That's what he kept out of those programs in a single year.
$11.2M to Veteran Benefits is more than Trump has donated to veterans in his entire life.
That's what it means to be a tax deadbeat.

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