Trump Tax Returns a ‘Dud’

The unprecedented release of Trump’s tax returns revealed nothing and have been described as a “dud.” The information showed Trump paid taxes from 2015-2020. His total tax consisted of $4.4 million.

From National Review:

Over the entire six-year window, Trump had aggregate negative AGI of $52 million and aggregate total tax of $4.4 million. He paid plenty in taxes even though he lost money.

In short, I don’t think there’s a lot here. We have a man who has spent a career obsessively creating dozens of businesses, probably hundreds over his lifetime. Many of these have lost money, which of course cancels out those that have made a profit. When it all nets out, the ultimate owner pays all the tax legally owed. Should he pay more? Only if you believe someone should not be able to let his business losses offset his business profits, which is grossly unfair. If the business losses were fraudulent for some reason, that’s not clear from these tax returns — each LLC would have to be separately audited and its books examined. But today’s Trump tax-return dump was a lot of buildup for not a lot of interesting output.