Another big revelation about president Trump did a total boomerang on the liberals who released it. The Trump tax return fiasco is a laughable disclosure.
After more than a year of claims that Trump never paid taxes or was hiding his returns to conceal his dealings with the Russians (Chinese, martians, etc.), or was really on welfare, etc., Rachel Maddow gleefully released a Trump return from 2005 that showed that Trump actually paid a relatively large amount in taxes, about 25% of his income that year.
Compare this to the Obamas who have paid about 19% of their income during the Obama presidency. Or Bernie Sanders who paid as little as 13%.
Taxpayers, of course, use deductions to lower their taxes. But it is funny how the liberals who want everyone to pay more and more in taxes always themselves seek to pay less and less using every possible deduction, like Bernie Sanders has done. Look at this thoroughly embarrassing tidbit from the New York Times, April 16, 1994 about the Clintons’ tax returns:
In previous returns, when Mr. Clinton was the Governor of Arkansas and his wife was a partner in a Little Rock law firm, the Clintons had gone so far as to deduct $2 for underwear donated to charities.
Ouch! The Trump return showed that the president earned $153 million in 2005 and paid $38 million in taxes. But a black female reporter claimed that the tax return showed that Trump was not a billionaire like he says he is.
April D. Ryan tweeted that “So in 2005 (Trump) was not a Billionaire. He made in 2005 over 100 million dollars.”
Uh, April, there is a difference between “annual income” that you are taxed on (like your annual salary) and your “net worth”, which for Trump is the total value of everything he owns, which is his real estate empire, estimated up to $10 billion.
What does all of this really mean? First, it means that someone committed a felony by releasing Trump’s return. It was probably someone in the IRS who opposes Trump, and this shows once again that we live in perilous times when privacy no longer exists as long as you are not liberal.
Meanwhile Bill and Hillary Clinton are said to be worth more than $125 million, yet there has not been a single effort to expose their tax returns or determine their exact worth or where it came from since they are Democrats.
Former vice president Al Gore is worth $200 million that he got primarily from selling his part ownership of his failed TV network, Current TV, to Middle Eastern interests for a huge profit at $500 million.
This is very suspicious particularly since the buyer, Al Jazeera, ended up closing its US-based network after it failed financially.
Ironically the release of the Trump returns ended up doing Trump a favor since the return showed him paying more as a percentage in taxes than most people in his income bracket. And no, presidents and presidential candidates are not required to release their tax returns.
Trump’s overall net worth can be calculated by adding up the value of his 37 hotels, luxury condominium buildings, office buildings (he once owned the Empire State Building) and resorts worldwide, including his Florida estate and Trump Tower in New York City, his home. Add to this his various investments and other possessions.
The important thing about Trump is that he has earned his money the old-fashioned way, like an industrial tycoon, erecting buildings, which is really hard to do.
Many of today’s mega-billionaires build their fortunes moving money around on computer screens, like New York hedge funders or investor Warren Buffett (net worth $78 billion); or by a huge stroke of political favoritism by starting a website that got major financial backing, like Mark Zuckerberg of Facebook (net worth $45 billion at age 32); or the most devious of all George Soros, who is an international currency manipulator who has built nothing and employs few people (net worth $25 billion). Soros’ activities even have had very detrimental effects on millions of people in Britain and Asia, i.e., he is a typical leftist – he earns what others lose.
Trump has employed tens of thousands of people in his real estate empire, from designing it to building it to operating it, while Zuckerberg’s Facebook employs only about 3,000 people. Yet Zucky is worth 5 to 10 times as much as Trump.
Here is the wealth of some of our past presidents for comparison (these figures in today’s dollars). These numbers vary according to the source. These particular numbers come from Wikipedia:
*George Washington, $580 million.
*Lyndon Johnson, $108 million (Johnson was a Democrat who was considered to be perhaps our most corrupt president ever. He even stole his first election to the US Senate from Texas in 1948).
*John F. Kennedy, $100 million (his share of the Kennedy family fortune of $1 billion, most of which came from bootlegging in the 1920s, and from serial Wall Street fraud that caused the stock market to crash).
*Richard Nixon, $17 million
*Ronald Reagan, $14 million
*George W. Bush, $40 million
*Calvin Coolidge, less than $1 million
*Barack Obama, $9 million
*Franklin D. Roosevelt, $66 million (far-left Democrat Roosevelt’s family wealth came from his maternal grandfather Warren Delano, who accumulated his fortune shipping opium into China, i.e., he got rich as China suffered, i.e., typical Democrat).
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