Trump’s predecessor Barack Obama, by contrast, paid nearly $1.8 million in federal income tax his first year in office, primarily on royalties from the sale of his books. George W. Bush’s first-year federal tax burden was $250,221, paid largely on his presidential salary and investment income from the blind trusts in which his assets were held. Prior presidents each paid tens of thousands of dollars in taxes during the first years of their administrations. ADADAt a 2016 presidential debate, Trump boasted he was “smart” for not paying federal income tax. Unlike every other major party presidential candidate since Richard Nixon, Trump has refused to release his tax returns.

Source: Washington Post September 28, 2020 19:22 UTC