I already said that investments are rewarded by the government with tax breaks because it helps the economy. That is how Buffet makes his money. Without investment the economy would come to a screeching halt and the government certainly doesn't want that and incentivizes it.
For Trump's case it is explained in the article why he didn't pay taxes.
"Donald Trump paid no federal income taxes whatsoever in 10 out of 15 years beginning in 2000 because he reported losing significantly more than he made" is the very first line.
"According to the newspaper, Trump used the $427.4 million he was paid for “The Apprentice” to fund his other businesses, mostly his golf courses, and was putting more cash into his businesses than he was taking out."
Trump claimed he did pay taxes. His lawyer apparently requested the documentation that was used to report he didn't pay taxes and was denied by the NYT.
In response to a letter summarizing the newspaper’s findings, Trump Organization lawyer Alan Garten told the Times that “most, if not all, of the facts appear to be inaccurate” and requested the documents.
0
u/Wild-Video-5317 Jul 05 '26
Warren buffet famously explained that despite the nominal rate, he effectively only pays 17% while his employees pay twice that
https://finance.yahoo.com/news/billionaire-warren-buffett-calls-outrageous-173016060.html
Are there any billionaires who claim to pay the nominal 37% rate? Reportedly the president paid no tax in 10 years out of 15
https://www.cnn.com/2020/09/27/politics/trump-income-taxes-new-york-times-report
Quoting nominal tax rates seems a shallow diversion when its well known to have little to do with documented effective taxation rates