>Trump paid about $750 in taxes in 2016 while still claiming to be a billionaire Right, because the tax system (generally) taxes income, not wealth. Not taking

>Trump paid about $750 in taxes in 2016 while still claiming to be a billionaire Right, because the tax system (generally) taxes income, not wealth. Not taking this into account is like asking "you're millionaire, yet you don't have any income, how come?" to a retiree. According to the new york times article that broke this story, most of it seems to be from his loss making businesses elsewhere. Moreover in recent years he has been paying tax, as those losses have stopped. https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html https://www.nytimes.com/interactive/2020/09/27/us/donald-tru...