Yes, you're right. And these taxes are automatically taken from earned income before you get a paycheck. I'm not sure if Trump had any jobs with earned income in 2017. Oh wait, now I remember. Trump started a new job January 20, 2017. So if that job paid a little more than minimum wage (e.g., $400,000 per year), Trump's Social Security and Medicare taxes might have been more than the minimum wage earner.
It also pays to know about component depreciation, cost seg, 1031 exchanges, GRATs, and the tax implications of meeting the definition of a real estate professional in the IRS regs. To whoever is reading my above statement, if you are not very knowledgeable about those terms, STFU! You have no idea what you are talking about. If you have to google any of the terms, STFU! You are completely ignorant wrt to IRS regs and taxes. You are clearly not in the top 10% and you are only familiar with regular joe payroll taxes.
He donated his full Presidential pay to charity. My understanding in this scenario no payroll taxes are deducted.
“Tax fraud, however,” he continued, “is lying about what your income was, lying about what your deductions are, and there’s a couple items that just stand out in that report from the New York Times that really appear to go beyond tax avoidance.” The “most glaring” issue, Akerman said, was the “consulting fees” Trump paid to his daughter Ivanka, saying there “is no legitimate reason” for her to have been paid those fees since she was already an employee of the Trump Organization. Burnett interrupted with a “blunt question,” asking Akerman, “Do you think Trump could end up going to jail if he is not re-elected because of anything in here?” referring of the information in the Times article. “No question about it,” said Akerman, “and his daughter could go to jail, too. Tax evasion is a five-year felony. It’s a pretty serious crime and the more money that is stolen the longer you go to jail for.” “So you’re saying if he loses, he, also Ivanka Trump, and others in his family, could be at risk?” asked Burnett. “Sure, absolutely,” he replied. “I mean, the only thing saving him at this point is the Department of Justice’s guideline that says you can’t indict a sitting president. Once he is no longer a sitting president, he is subject to being indicted. I think any decent prosecutor looking at this evidence will be able to put together a pretty viable tax case.” https://www.mediaite.com/crime/form...-jail-for-tax-fraud-if-he-loses-the-election/
Show us the tax fraud from this new revelation from the NYSlimes. No one cares about Trump U. No one.
Look who is trying to throw shade on Trump. She should be more concerned with her own illegal activities and financial shenanigans.