Five Takeaways About Trump’s Taxes

PolitCens Новини, Політика, Суспільство 0 Comment

Democrats in the U.S. Congress released six years’ worth of former President Donald Trump’s tax returns following a years-long legal fight in which Trump sought to keep the information private. The newly publicized records amount to nearly 6,000 pages, including the personal tax returns of Trump and his wife, Melania, from 2015 to 2020, as well as tax returns from Trump’s businesses.

Here are five key takeaways from the documents:

  1. Trump’s personal income varied greatly year by year.

Of the six years covered by the documents from 2015 to 2020, Trump’s adjusted gross income ranged from a low of negative $32.4 million (in 2016) to a high of $24.4 million (in 2018).

  1. Trump’s tax liability also greatly fluctuated.

Trump paid little to no taxes in three of the six years covered by the documents released: $0 taxes paid in 2020 and $750 in taxes paid in both 2016 and 2017. The former president paid larger sums in 2015 ($641,931), 2018 ($999,466) and 2019 ($133,445).

  1. Trump claimed large deductions and losses.

While Trump’s gross income ran into the hundreds of millions of dollars, he also reported large losses and claimed various tax deductions, which reduced his adjusted gross income, along with the taxes he would have to pay on it.

  1. Trump had bank accounts in several foreign countries.

In his tax filings, Trump said he had financial accounts in various foreign countries between 2015-2020, including China, Ireland, Great Britain and the Caribbean nation of St. Martin. By 2018, he had closed all his overseas accounts except for the one in Great Britain. The former president also reported earning money in foreign nations.

  1. Trump’s charitable giving varied year by year.

Of the six years covered by the documents, Trump’s charitable giving ranged from a low of $0 in 2020 to a high of $1.8 million in 2017. Trump gave about half a million in each of 2018 and 2019, and $1.1 million in 2016.

Some information in this report came from The Associated Press and Reuters.
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Штраф, арешт або обмеження волі: поліція шукає осіб, які вчора у Києві запускали феєрверки

SocNet Новини, Політика, Суспільство 0 Comment

Згідно з рішенням військової адміністрації міста Києва, використання будь-яких піротехнічних виробів у період дії воєнного стану заборонене
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Iran Replaces Central Bank Governor Amid Currency Crash

CensorBiz Бізнес, Новини, Статті, Суспільство 0 Comment

Iran appointed a new head of its central bank Thursday after the currency crashed to its lowest level ever against the dollar amid mass protests and ongoing Western sanctions.

Mohammad Reza Farzin, 57, a senior banker and former deputy finance minister, was tapped to replace Ali Salehabadi, who resigned after 15 months at the post, the official IRNA news agency reported.

The rial was trading at about 430,000 to the dollar Thursday, down from 370,000 earlier this month. Already battered by years of Western sanctions over Iran’s nuclear program, the rial was trading at 315,000 when anti-government protests erupted in mid-September.

The protests were ignited by the death of a woman who was detained by the country’s morality police. The demonstrations rapidly escalated into calls for an end to more than four decades of clerical rule. Security forces have launched a heavy crackdown, using live ammunition and birdshot, as well as beating and detaining protesters, according to rights groups.

At least 508 protesters have been killed and more than 18,600 people have been arrested, according to Human Rights Activists in Iran, a group that has closely monitored the unrest. Iranian authorities have not provided an official death toll.

Iran’s currency was trading at 32,000 rials to the dollar at the time of the 2015 nuclear accord that lifted international sanctions in exchange for tight controls on Iran’s nuclear program. That deal unraveled after then-President Donald Trump unilaterally withdrew the United States from it in 2018.

The Biden administration had been trying to restore the agreement until the protests broke out, but those talks hit a deadlock several months ago.

In a separate development on Thursday, Iran summoned the Italian ambassador over Rome’s criticism of its response to the protests.

Italian Foreign Minister Antonio Tajani had summoned Iran’s envoy the day before to express concern over the crackdown, which he said had nothing to do with protecting Iran’s security.
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