Trump Tax-Return Report Fuels Democrats’ Drive to Tax the Rich
President Trump’s apparently minuscule tax payments are pumping new energy into Democrats’ plans to raise taxes on rich people and beef up the Internal Revenue Service.
But raising tax rates wouldn’t necessarily make the president or others in similar situations pay more, because he reportedly claimed unusually large business losses to lower his taxable income. And Mr. Trump’s tax situation doesn’t automatically yield a list of tax breaks to be eliminated, because he seems to be making aggressive use of common deductions that help many businesses.
Mr. Trump paid $750...