{"id":7194,"date":"2025-09-07T16:41:02","date_gmt":"2025-09-07T16:41:02","guid":{"rendered":"https:\/\/africanamericanvoice.net\/?p=7194"},"modified":"2025-09-07T16:41:02","modified_gmt":"2025-09-07T16:41:02","slug":"trumps-tax-policies-let-d-c-billionaires-pay-less-than-working-residents","status":"publish","type":"post","link":"https:\/\/africanamericanvoice.net\/?p=7194","title":{"rendered":"Trump\u2019s Tax Policies Let D.C. Billionaires Pay Less Than Working Residents"},"content":{"rendered":"

by Stacy M. Brown<\/a><\/span> <\/span><\/p>\n

Washington, D.C., is home to some of the richest people in America, and under President Donald Trump\u2019s tax agenda, they continue to pay a lower share of their income in taxes than most working residents of the city.<\/p>\n

A new National Bureau of Economic Research (NBER) study shows<\/a> that the nation\u2019s 400 wealthiest households paid an average effective tax rate of just 24% between 2018 and 2020 \u2014 compared with 30% for the overall population and 45% for top wage earners. That steep drop from earlier years stems from Trump\u2019s 2017 Tax Cuts and Jobs Act, which slashed the federal corporate tax rate from 35% to 21% and opened new loopholes for the ultra-wealthy.<\/p>\n

Now in his second term, Trump is pushing further measures that exempt billionaires from paying their fair share while shifting the burden onto ordinary Americans.<\/p>\n

The effects are especially stark in D.C., where the Forbes 400 list<\/a> has remained dotted with local billionaires.<\/p>\n

Amazon founder Jeff Bezos, who owns the Washington Post and a Kalorama estate, sits at the top with a fortune of $161 billion.<\/p>\n

\u201cBetween 2006\u20132018, Jeff Bezos\u2019s wealth grew by $127 billion. His federal income tax bill? $1.4 billion total. That\u2019s about 1% effective tax rate,\u201d Kashu<\/a> founder J. Grey Friend wrote on X<\/a>, formerly known as Twitter. \u201cMeanwhile, the average worker pays 20\u201330%.\u201d<\/p>\n

Others with deep local ties include candy heiress Jacqueline Mars and her relatives, worth nearly $39 billion, and Carlyle Group co-founders David Rubenstein, Daniel D\u2019Aniello, and William Conway Jr., each worth billions and firmly anchored in Washington\u2019s business and civic life.<\/p>\n

Despite their vast holdings, the NBER study shows billionaires in the capital and across the country exploit structural gaps in the tax code. Corporations they control distribute little in dividends, passthrough firms report paper losses despite strong profits, and estate taxes barely touch their wealth. For the richest households, taxable income amounts to only about one-third of their actual economic income, which drastically cuts their IRS bills.<\/p>\n

Between 2010 and 2017, billionaires paid about 30% of their income in taxes \u2014 roughly the same as average Americans. But once Trump\u2019s tax law took effect, their rate dropped to 24%, and by 2018\u20132020 they were paying only 1.3% of their wealth annually in taxes.<\/p>\n

\u201cUltra-high-net-worth individuals appear less taxed than the average American,\u201d NBER authors noted.<\/p>\n

Source: Published without changes from Washington Informer Newspaper<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

by Stacy M. Brown Washington, D.C., is home to some of the richest people in America, and under<\/p>\n","protected":false},"author":3,"featured_media":7195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[255,32],"tags":[],"class_list":["post-7194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-america-under-attack","category-business"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=\/wp\/v2\/posts\/7194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7194"}],"version-history":[{"count":1,"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=\/wp\/v2\/posts\/7194\/revisions"}],"predecessor-version":[{"id":7196,"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=\/wp\/v2\/posts\/7194\/revisions\/7196"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=\/wp\/v2\/media\/7195"}],"wp:attachment":[{"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/africanamericanvoice.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}