Wow… this is insane.
Given the needless complexity of our tax code, it would stand to reason that Donald Trump would have to fill out a pile of paperwork for the Internal Revenue Service every year. And he does — literally.
Trump posted a picture of himself signing his tax return this year on his Twitter feed. It wasn’t just in the interests of full disclosure, though — the simple volume of the return should indicate just how labyrinthine the tax code has become.
Trump tweeted these pictures along with the caption, “Signing my tax return … ”
Now, of course, most of us don’t have a tax return anywhere near as complicated as Trump’s. This is a man who manages a real estate empire and an entertainment brand. In the past, he’s owned and operated airlines and football teams.
However, the fact that anyone needs to file a tax return that lays waste to an entire Amazonian forest is absolutely absurd.
Trump has been on the forefront of simplifying the tax code, proposing a simplified tax that, while not flat, is certainly flatter.
“If you are single and earn less than $25,000, or married and jointly earn less than $50,000, you will not owe any income tax,” Trump’s tax proposal read.
“That removes nearly 75 million households – over 50 percent – from the income tax rolls. They get a new one page form to send the IRS saying, ‘I win,’ those who would otherwise owe income taxes will save an average of nearly $1,000 each.
“All other Americans will get a simpler tax code with four brackets — 0 percent, 10 percent, 20 percent and 25 percent — instead of the current seven. This new tax code eliminates the marriage penalty and the Alternative Minimum Tax while providing the lowest tax rate since before World War II.”