It’s time billionaires paid at least a 25% minimum tax.
— President Biden (@POTUS) September 14, 2023
Donald Trump paid an effective tax rate of 0% in 2020; he paid no taxes after claiming nearly $5 million in losses. In 2019, with declared income of $4.4 million, the Trumps paid just $134,000 in their joint tax filing, or 3%. In 2018, with $24.3 million in income, he paid a 4% effective rate. The average effective federal tax rate in the United States for people of all income levels was 13% in 2022.