Mrs Clinton and her husband past year paid an effective federal tax rate of 34.2%, a combined federal, state and local effective rate of 43.2% and donated 9.8% of their income to charity, according to the campaign.
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In 2015, Clinton paid a federal tax rate of 34.2% and a NY state rate of 9% for a total effective tax rate of 43.2%. The campaign also released 10 years’ worth of tax forms for vice presidential nominee Tim Kaine and his wife, Anne Holton, who earned $313,000 last year and have donated an average of 7.5 percent to charity over the past decade.
The Clintons donated 9.8 percent of their gross income of $10.6 million to charity organizations, according to the return, published on the candidate’s Web page.
“In stark contrast, Donald Trump is hiding behind fake excuses and backtracking on his previous promises to release his tax returns”, she added.
“Hillary Clinton and Tim Kaine continue to set the standard for financial transparency”, Clinton campaign communication director Jennifer Palmieri said Friday.
Straying from his trademark bravado, Donald Trump acknowledged Thursday that his presidential campaign is facing challenges and could ultimately fall short – a rare expression of humility by the Republican presidential nominee.
The Trump campaign statement came hours after Clinton released the latest tax returns of her and her husband Bill Clinton.
Trump and his lawyer have said the IRS is auditing his returns, so he can’t or won’t release them although there is no legal prohibition on releasing returns that are being audited.
Trump’s critics, including 2012 Republican presidential candidate Mitt Romney and other fellow Republicans, have said his refusal raises questions about his net worth, his charitable contributions, his business dealings and various other ties, including with Russian Federation.
“I just do not think insults and bullying is how we are to get things done”, Clinton said as she laid out her economic plan Thursday in Warren, Michigan.
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Politico has reported that Mr Trump paid zero to very little taxes for two years in the 1990s. Documents further reveal that the Clintons paid $3.24 million in federal income taxes in 2015, with their total federal and state tax burden amounting to 43.2 percent – down from 45.8 percent in 2014. But more than a year the billionaire refuses to do this. President Barack Obama also backs the proposal. Their main investment was a low-priced index mutual fund, and the Clintons reported dividend and interest income of $109,000.
