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Ron Paul Liberty Report

Weekly Update --- Trump's Tax Returns Show Evil Of The Income Tax

Ron Paul Liberty Report

Ron Paul Liberty Report

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4.92.3K Ratings

🗓️ 10 January 2023

⏱️ 5 minutes

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Weekly Update --- Trump's Tax Returns Show Evil Of The Income Tax by Ron Paul Liberty Report

Transcript

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0:00.0

Hello everybody and thank you for tuning in to the weekly report. Trump's tax returns show

0:06.4

evil of the income tax. The final act of the Democrat majority on the House Ways and Means

0:13.8

Committee was to make public several years of Donald Trump's tax returns, which the committee

0:20.5

obtained after a prolonged legal battle. The tax returns confirm that despite being one of the

0:28.4

richest people in America, Donald Trump paid very little in federal income tax. In fact, in at

0:36.4

least one year he paid under a thousand dollars. Trump's success in minimizing his tax liability

0:44.3

without ever being audited is surprising only to those who think IRS audits are mainly used to

0:51.7

catch rich tax cheats. According to data released by the Syracuse University Trans-Actional Records

1:00.4

Clearing House, in 2022 lower income tax payers were five and a half times more likely than million

1:09.7

errors and billionaires to be audited. This is because low income tax payers cannot afford to hire

1:17.4

top notch tax attorneys and accountants to help fight the IRS, so they are more likely to give in

1:25.2

to the agency's demands. Despite claims of the Biden administration and its congressional allies,

1:33.6

the $80 million in additional funds provided to the agency as part of the misnamed

1:40.8

Inflation Reduction Act will likely increase the tax agency's targeting of low and middle income

1:48.9

Americans. Proponents of a flat tax or a national sales tax argued that such a system would ensure

1:56.3

millionaires and billionaires paid their fair share of taxes. Saying we must all pay our fair share

2:04.3

of taxes assumes we have a moral obligation to the government that can only be fulfilled by

2:10.8

turning over as much of our income as our so-called public servants demand. This is not the case.

2:19.2

Individuals have a moral duty to support their families and to support private charities if they

2:25.9

wish. They do not have a moral duty to support the government. Tax reform proponents also complain

2:34.5

that the current tax code contains too many loopholes that cause economic distortions and inefficiencies.

2:43.1

It is true that the current tax system promotes inefficiency, but this is caused by the income tax itself

...

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