Transcript for By the Numbers: Trump’s taxes vs. the average American
New York Times bombshell report on the president's tax returns is certainly dominating the headlines with a paper reporting that the president paid. Just 750 dollars in federal taxes in 2016 and 2017. So how sex compare to other Americans. Let's take a look by the numbers. How the average American pays in taxes isn't easy to pin down but for comparison. In 2016 households in the middle twining percent of US income paid an average of 2200. Dollars in federal taxes according to the Congressional Budget Office. That means those middle class households earning about 60000 dollars to approximately. Three times as much in federal income taxes as trump. Giving taxpayers earning between 2825000. Dollars a year paid about 11100 dollars in federal taxes in 2019. According to IRS data. It's according to the Tax Policy Center. Some 44% of Americans pay no federal income tax but most of those are low income Americans and seniors. While some wealthy Americans do manage to pay no taxes during deductions and write offs as the president has done. Trump's low tax bill is par for the course and rich according to the Associated Press the average wealthy tax Payer in the top point 001%. Good about 25 million dollars annually between 2000 to 2017. That's the same timeframe when the New York Times says the president paid on average. One point four million dollars in federal taxes after a massive refund now under audit by the IRS. Get back to the twenty Tony race tax returns for Joseph Biden. Show that he paid about three point seven million in federal taxes in 2017. After leaving office. Expect the tax issue to be on the major issue as a to face off tomorrow on the debate stage. For the very first time.
This transcript has been automatically generated and may not be 100% accurate.