President Donald Trump listens during a meeting with leaders from small community banks, Thursday, March 9, 2017, in the Roosevelt Room of the White House in Washington. (AP Photo/Evan Vucci)
Donald Trump paid a higher tax rate in 2005 than most people in his income group
By
Philip Klein
•
3/14/17 10:04 PM
Philip
Klein
Managing Editor
The Washington Examiner
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A leaked version of President Trump's tax return from 2005 shows that he actually paid a higher tax rate than a typical taxpayer in his income group.
Trump paid $38.4 million in taxes on $152.7 million of reported income that year, for an effective average tax rate of 25.1 percent.
But that year, those among the top 0.1 percent of taxpayers had an average tax rate of 22.48 percent, according to data from the Tax Foundation.
Though Trump's taxes were mostly comprised of a massive $31 million alternative minimum tax payment, there is nothing unusual about his overall tax rate. In fact, he paid more than others with his income.
Editor's note: An earlier version of this story said Trump paid an average tax rate of 25.3 percent, which was based on using rounded numbers of $38 million and $150 million. This has been updated to reflect a more precise number, absent rounding.
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The Washington Examiner
2017
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Politics
2017-03-14
http://www.washingtonexaminer.com/donald-trump-paid-a-higher-tax-rate-in-2005-than-most-people-in-his-income-group/article/2617393
2017-03-14T22:04
2017-03-15T10:56
Trump paid higher tax rate than most in his income group
A leaked version of President Trump's tax return from 2005 shows that he actually paid a higher tax rate than a typical taxpayer in his income group.
Trump paid $38.4 million in taxes on $152.7 million of reported income that year, for an effective average tax rate of 25.1 percent.
But that year, those among the top 0.1 percent of taxpayers had an average tax rate of 22.48 percent, according to data from the Tax Foundation.
Though Trump's taxes were mostly comprised of a massive $31 million alternative minimum tax payment, there is nothing unusual about his overall tax rate. In fact, he paid more than others with his income.
Beltway Confidential,White House,Philip Klein,Taxes,2016 Elections,Donald Trump,Minusextra
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