SURPRISE! (not really) Trump is taking his salary as president, and it’s not $1
Like Mexico not paying for the wall and not everyone being covered under TrumpCare, Trump has again reneged on something he promised during his campaign and after his election. First, Trump said he wouldn’t take any money. After finding out that he had to take something he said he would take $1. Now, he says he is going to donate his salary to a charity of the press corps determination (whether this is the press corps of his choosing or the entire press corps has been left unannounced) at the end of the year. (Imagine if the press corps chose Planned Parenthood or the ACLU.)
For a savvy businessman, which Trump claims to be, he should have no problem earning 10 or 12% interest on those dollars that he receives for doing whatever it is that rich people do to garner more interest than the rest of us (investing in the stock market, buying property, creating a diversified portfolio). However, at even half the percentage rate, Trump will have earned over $9,000 by the end of the year when he is set to donate his earnings. Will he donate the interest on the salary as well?
Even if he donates everything, interest and salary, he will be getting a tax break for his charitable contribution. This is one of the ways that rich people avoid paying taxes. No one can say that it isn’t a part of his normal donation procedure to give away $400,000 or more every year since we haven’t seen his tax returns, so even his donation of his salary only makes since if in the larger picture of his normal donations he is giving beyond what he normally does. If last year he gave any amount over $400,000, this year it should be the same number +$400,000 (or $409,295.10). Again, until we see what he donated last year, we won’t know if he is donating his salary or just making a show of what he has already in his charitable giving fund. Keeping both of those things in mind, there is a larger question than his actual sincerity and intent.
What happens if he decides not to donate at all? In spite of his promise to make Mexico pay for the wall, Mitch O’Connell revealed that there is no way Mexico is going to pay for it. Even Trump said that Mexico wouldn’t pay for it. He said he would use an import tax on goods from Mexico to cover the costs, which means the American consumer, you and I are going to pay for it twice – once with our taxes and again whenever we buy anything made or produced in part by Mexico. Trump said that his healthcare plan would cover everyone. The CBO has said that next year 14 million people will lose health insurance, and by 2026, 24 million people would no longer be covered by insurance.
If Trump decides to keep his salary, Trump’s supporters and Republican allies will not hold him any more accountable for his decision than anything else he has said or done over the past year. His supporters have already shown that they are willing to put up with his lies and ignore anything negative that comes to light regarding Trump. His advisors have already shown that they will lie through their teeth and admit they are doing it with “alternative facts” and spying through the microwave even though she has no evidence of wiretapping. The Republican Party has shown that they are okay with him calling people names and making false accusations.
Trump wouldn’t face any consequences at all if he were to decide that he was going to keep the money. It would be rationalized away by his supporters and staff alike. He earned it, after all, and as any leader in the Republican Party would show you – charity sucks.
For a savvy businessman, which Trump claims to be, he should have no problem earning 10 or 12% interest on those dollars that he receives for doing whatever it is that rich people do to garner more interest than the rest of us (investing in the stock market, buying property, creating a diversified portfolio). However, at even half the percentage rate, Trump will have earned over $9,000 by the end of the year when he is set to donate his earnings. Will he donate the interest on the salary as well?
Even if he donates everything, interest and salary, he will be getting a tax break for his charitable contribution. This is one of the ways that rich people avoid paying taxes. No one can say that it isn’t a part of his normal donation procedure to give away $400,000 or more every year since we haven’t seen his tax returns, so even his donation of his salary only makes since if in the larger picture of his normal donations he is giving beyond what he normally does. If last year he gave any amount over $400,000, this year it should be the same number +$400,000 (or $409,295.10). Again, until we see what he donated last year, we won’t know if he is donating his salary or just making a show of what he has already in his charitable giving fund. Keeping both of those things in mind, there is a larger question than his actual sincerity and intent.
What happens if he decides not to donate at all? In spite of his promise to make Mexico pay for the wall, Mitch O’Connell revealed that there is no way Mexico is going to pay for it. Even Trump said that Mexico wouldn’t pay for it. He said he would use an import tax on goods from Mexico to cover the costs, which means the American consumer, you and I are going to pay for it twice – once with our taxes and again whenever we buy anything made or produced in part by Mexico. Trump said that his healthcare plan would cover everyone. The CBO has said that next year 14 million people will lose health insurance, and by 2026, 24 million people would no longer be covered by insurance.
If Trump decides to keep his salary, Trump’s supporters and Republican allies will not hold him any more accountable for his decision than anything else he has said or done over the past year. His supporters have already shown that they are willing to put up with his lies and ignore anything negative that comes to light regarding Trump. His advisors have already shown that they will lie through their teeth and admit they are doing it with “alternative facts” and spying through the microwave even though she has no evidence of wiretapping. The Republican Party has shown that they are okay with him calling people names and making false accusations.
Trump wouldn’t face any consequences at all if he were to decide that he was going to keep the money. It would be rationalized away by his supporters and staff alike. He earned it, after all, and as any leader in the Republican Party would show you – charity sucks.