American workers with incomes of between $US20,000 and $US50,000 ($28,000 and $70,000) pay an average of $US1871 in federal income taxes annually – twice that paid by Trump in 2016 and 2017,theTimes said.
Trump was able to minimise his tax bill by reporting heavy losses across his business empire. TheTimes reported Trump claimed $US47.4 million in losses in 2018,despite claiming income of at least $US434.9 million in a financial disclosure that year.
He also minimised his tax payments by classifying residences,the cost of his aircraft and even haircuts as business expenses. Trump reportedly claimed deductions worth more than US$70,000 to style his hair during his time hostingThe Apprentice.
He also reduced his taxable income by treating daughter Ivanka as a consultant,and then deducting payments worth hundreds of thousands of dollars to her as a cost of doing business.
Speaking at a news conference at the White House shortly after the investigation was published,Trump dismissed the report as"fake news".