Trump’s 2005 Taxes Were Leaked, What Did We Learn?
Author David Clay Johnson was on the Rachel Maddow Show (TRMS) yesterday. Johnson had brought with him something that many people have wanted to see. He had President Donald Trump’s 2005 federal tax return. The two page document seemed to bring up more questions than it answered. Many people have been trying to get their hands on information about his taxes for some time.
The returns show that Trump made $150 million that year. He also paid $38 million in taxes. This puts his tax rate at 25.33%. Without the impact of the Alternative Minimum Tax (AMT), he would have paid only 5% in federal taxes. This may be one reason the president was so adamant about getting rid of the AMT during his campaign.
The tax returns themselves did not prove to be the “smoking gun” that many people assumed they would be. For his part, Trump wasted no time in responding to TRMS via Twitter.
Does anybody really believe that a reporter, who nobody ever heard of, "went to his mailbox" and found my tax returns? @NBCNews FAKE NEWS!
— Donald J. Trump (@realDonaldTrump) March 15, 2017
The White House responds to the leak
The White House put out a statement about the leak: “Despite this substantial income figure and tax paid, it is totally illegal to steal and publish tax returns. 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.”
There are a number of questions that have not been answered by the 2005 1040 form. While we now know how much Trump paid in taxes, it is still unclear where his income came from, what kinds of deductions he took and what ties he may have with other countries, such as Russia.
Despite Trump’s claims to the contrary, many people around the nation want him to release his taxes to clear up his ties to Russia and to show where he makes his money and where he makes donations to charity.
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