Rachel Maddow just released portions of Trump’s 2005 federal tax return. The returns were reportedly sent to investigative reporter David Cay Johnston. The returns reveal that Trump wrote off $ 100 million in business losses, reported income of $ 150 million, and paid $ 38 million in federal taxes.
Read the White House official’s full statement below:
You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago.
Before being elected President, Mr. Trump was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required.
That being said, Mr. Trump paid $ 38 million dollars even after taking into account large scale depreciation for construction, on an income of more than $ 150 million dollars, as well as paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes and this illegally published return proves just that.
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.
