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The documents contradict many of Trump's public claims to have a flourishing and prosperous business empire, [51] showing that as a result of reporting losses in many years and receiving a $72.9 million tax refund, Trump paid no net federal income taxes in 11 of 18 years of the past two decades. After the refund, Trump had an average tax bill ...
During the six months following enactment of the Trump tax cut, year-on-year corporate profits increased 6.4%, while corporate income tax receipts declined 45.2%. This was the sharpest semiannual decline since records began in 1948, with the sole exception of a 57.0% decline during the Great Recession when corporate profits fell 47.3%. [193]
Size of this JPG preview of this PDF file: 463 × 599 pixels. ... Trump tax returns. ... Version of PDF format: 1.6
Another key factor among the 2017 tax law changes enacted during Trump’s first term was the provision that brought the U.S. corporate income tax rates in line with those levied in Europe and Asia.
In 2017, his first year in the White House, Trump paid $750 in federal income tax and reported $12.9 million in losses. According to his 2020 filing, he paid no federal income taxes and claimed a ...
“Tax revenues boomed in 2021 and some ... the first year the Trump tax cuts were in effect. But in 2019, growth dipped back again. Pffft. The same trend is evident in the next chart, showing ...
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That baseline, which assumes that the 2017 tax cuts expire at the end of 2025 and individual rates snap back to their prior, higher rates, already calls for a 10-year deficit increase of $22 ...