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Capitol Report: Trump family’s alleged tax evasion would be triple the typical evasion among the superwealthy

If this week’s bombshell report about the Trump family’s tax evasion is accurate, then the level of avoidance looks remarkable even for a superwealthy clan with adept advisers.

Tuesday’s New York Times exposé alleged that President Donald Trump’s parents transferred well over $1 billion in wealth to their children. That should have produced a tax bill of at least $550 million under the 55% tax rate then imposed on gifts and inheritances, but Fred and Mary Trump paid $52.2 million, or 5%, according to the Times report.

So the Trumps allegedly paid only 9.5% of what they should have paid in taxes, avoiding 90.5% of their bill.

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