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Do You Agree That Jared Kushner Should Pay Almost Nothing In Federal Taxes?

October 13, 2018

Jared Kushner is worth more than $300 million and has earned millions off his family’s real-estate holdings but has paid little in taxes, The New York Times reported today after obtaining confidential financial documents.   The report concluded that he appeared to have paid almost no federal income taxes for several years running.

He appears to have dramatically reduced his tax bills in recent years by using a legal tax break known as depreciation, according to The New York Times. 

Kushner was able to offset his income by reporting the depreciation of various real estate holdings, a widely used tax break that is designed to account for the damage properties incur over time.

The Times reported that Kushner earned $1.7 million in salary in 2015 and offset that income with more than $8.3 million in losses reported as a “significant depreciation” in real estate assets.  There’s no evidence to suggest, however, that Kushner did anything improper.

But it does strongly suggest that those who have vast wealth often do not share the burden of meeting their obligations as citizens in the way that the majority of taxpayers in the land do each April.  The wealthy must not be part of the swamp that Trump wanted to drain once elected.

Hmmmm.

 

2 Comments leave one →
  1. October 15, 2018 11:37 AM

    You write of those rich people who pay taxes–though I would add not at the fair share as compared with others in the nation. But you never once mentioned the topic of the post. That being Trump’s son-in-law who paid almost NO federal taxes. FOR YEARS! If you tried that your comments would probably not be posted here as I think folks behind bars can not have that type of computer access. As for me–I support what is termed the “Buffett rule,” which would require households earning more than $1 million a year to pay at least 30 percent in taxes. That has been viewed by many economists as fair for the taxing base of the nation.

  2. Pkarm permalink
    October 14, 2018 9:31 PM

    Actually from a Bloomberg story today I found a couple of interesting facts about who pays their fair share.

    The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).

    The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.

    I am never going to near anywhere near the 1% when it comes to income and I pay more than my fair share out of my income each payday so when it comes to doing my taxes each year I work very hard to make sure pay as little as possible,

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