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Trump’s Tax Returns Show Why We Need to Fund Tax Enforcement
In the News

Trump’s Tax Returns Show Why We Need to Fund Tax Enforcement

Seth Hanlon explains why the revelations about President Donald Trump's tax returns show that the IRS needs more funding to effectively address tax avoidance.

The revelations from President Donald Trump’s tax returns reported by the New York Times give new definition to the phrase “shocking but not surprising.”

Shockingly, the president of the United States, with a supposed net worth of $2.7 billion, paid a sum total of $750 in income taxes in his first year in office. That’s less than a single person working full-time for $9 an hour, or $18,000 annually, would have paid. And Trump reportedly paid nothing at all in most prior years.

But given what we already knew about Trump, it’s hard to say the Times report was all that surprising.

The above excerpt was originally published in Bloomberg. Click here to view the full article.

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Authors

Seth Hanlon

Senior Fellow