When MSNBC’s Rachel Maddow erroneously announced that she had President Trump’s tax returns, the Democratic Media Complex exploded into excitement over the chance to hit The Donald for supposedly paying no taxes or very little taxes. However, Maddow only possessed a two-paged Form 1040 from 2005 that showed that Trump made over $150 million and that he paid more than $36 million, effectively paying 25% in taxes.
While many in the Democratic Media Complex pushed back on Maddow’s nothingburger story, American Urban Radio Network’s White House Correspondent April Ryan believed that Maddow’s big reveal was astounding.
@maddow is on fire with @POTUS @realDonaldTrump leaked tax returns
— AprilDRyan (@AprilDRyan) March 15, 2017
However, Ryan stepped on a rake the moment she made the following take:
So in 2005 @POTUS was not a Billionaire. He made in 2005 over 100 million dollars.
— AprilDRyan (@AprilDRyan) March 15, 2017
This is completely idiotic. The Form 1040 only accounts for the income that Trump made in 2005 instead of accounting for the wealth he accumulated over decades of building up his real estate empire. Thanks to the United States Constitution, Congress cannot impose a wealth tax, which would allow the government to take from an individual’s asset holdings. For that reason, Trump’s total net worth could neither be taxed nor determined simply by a two-page Form 1040.
Even if there was an unconstitutional wealth tax, there is additional evidence that makes Ryan’s tweet look ridiculous. In 2006, the year that the Form 1040 was filed to the IRS, Forbes estimated that Trump’s net worth was around $2.9 billion, even though Trump suggested his fortune was worth around $6 billion. The chart below shows how Forbes came to its estimate.
If Forbes’ estimate is accurate, then that also debunks April Ryan’s moronic claim that Trump was not a billionaire in 2005.
Left-wing journalists will spin anything to promulgate their ridiculous narrative. However, Ryan spun a two-page tax return hard enough to throw herself into the list of Moron Alert recipients. Perhaps she should brush up on the United States Tax Code before she decides to comment on issues regarding taxation, President Trump’s tax returns, or anything that would justify increasing tax rates to push a radical agenda.
And people wonder why the fake news media has such a difficult time acquiring the trust of the American people?
UPDATE:
April Ryan deleted both tweets and made her Twitter account private.
BAHAHAHAHAHAHA pic.twitter.com/07ZUZ91kGl
— Elliott Hamilton (@ElliottRHams) March 15, 2017
Victory!
