Trump earned $153M and paid $36.5M in taxes in 2005
- Author: Stacy Houston Mar 29, 2017,
Mar 29, 2017, 1:57
In fact, in 2005 he earned around $150 million in income and paid $38 million in taxes, which puts him a 24 percent tax rate bracket.
Trump, who has long refused to release his own tax returns, also paid about $1.9 million for his self-employment tax, which goes toward Social Security and Medicare (calculating that in bumps his total tax rate to about 25 percent).
Those 1995 returns showed that Trump took a $916 million loss that year - so big he could have avoided paying federal income tax for years to come.
During the 2016 U.S. election campaign, many called for Donald Trump to make his tax returns public, with more than a million people signing a White House petition urging him to release them. (The file received by the New York Times to which Johnston referred on Maddow's show had the return address of Trump Tower.) An image of the envelope was released, showing a postmark of Westchester, New York - an affluent suburb of New York City - on March 9.
"I have no idea where they got it but it's illegal and they're not supposed to have it and its not supposed to be leaked and it's certainly not an embarrassing tax return at all but it's an illegal thing they've been doing it, they've done it before and I think it's a disgrace", Trump said.
But mostly, it had its critics, including Jason Del Rey of Recode: "Maddow just convinced millions more to cut the cable cord".
Since watergate every president has released their tax returns, Trump is the first to refuse.
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Johnston suggested a member of Trump's entourage - possibly even, he speculated, the president himself - anonymously delivered the documents to him.
The White House has not said whether or not the president plans to release his returns while he's in office.
The president's Tuesday night complaint that Maddow must be "desperate for ratings" - and that the publication of the return was illegal - doesn't hold up.
Last night the internet was ablaze after reading a tweet by Rachel Maddow announcing that she would be revealing a Trump Tax return. A 15-minute introduction of "The Rachel Maddow Show" outlined Trump's refusal to release his tax returns, which are running into millions of dollars. But the White House partially verified its credibility in a statement that claimed Trump paid roughly $38 million in taxes in a year he made $150 million.
Neither Trump nor anybody in the administration have called for a probe into the returns' release. "It is amusing to me that a president would spend this much energy and political capital to keep secret his finances and his taxes specifically and simultaneously would want to brag about how much money he made". Experts say more information is needed to know whether or not Trump has financial conflicts of interest.
"The dishonest media can continue to make this part of their agenda, while the President will focus on his, which includes tax reform that will benefit all Americans", it added.