Hillary and Bill Clinton paid $3.2 million in federal income tax a year ago, a rate of 34.2 percent.
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The Democratic VP candidate also released his tax returns and they are a little more pedestrian. The couple gave $1.4 million to charity – the majority of that to their own family foundation.
Today’s release is to include the 2015 returns on that list. Although sharing tax returns is a tradition that goes unquestioned by modern presidential candidates, Trump has built his campaign around bucking convention.
On Thursday, new broke that Clinton and her running mate, Tim Kaine, will unveil their latest returns, pressuring Trump follow suit.
Trump, a NY businessman, and his lawyers have cited an audit by the Internal Revenue Service as a reason for his refusal to release his returns. “What is he trying to hide?” Like Clinton, Obama made it a campaign issue.
The disclosures are sure to irk liberal voters for whom Hillary Clinton’s ties to powerful corporate and banking interests are cause for suspicion. “It’s time we find out what Donald Trump is hiding”.
Clinton released her tax forms on Friday in a move that is seen as a way to pressure Donald Trump to release his taxes. The agency, while not indicating whether the Republican presidential nominee is being audited, has said anyone can release their returns, under audit or not. The campaign said the Kaines had paid an effective Virginia tax rate of 5.4 percent, for a total tax rate of 25.7 percent.
The couple also received $226,000 in pension and annuities.
Most released their returns for several years, such as Bob Dole en 1996.
College affordability is a major policy plank for Clinton, and she frequently criticizes for-profit institutions, which she says can saddle students with debt without preparing them for jobs. Apparently the $100 entry is residuals from Bill Clinton’s iconic 1988 appearance on The Tonight Show, where he played the saxophone, joked about his bad speech at that year’s Democratic convention and generally resurrected his political career.
In 2015, their return shows, they overpaid their federal taxes by more than $1 million and asked that the excess be applied to their 2016 tax bill.
Taxed at 39.6 percent, and after factoring out deductions, the Clintons appear to have paid more than $3 million in federal income tax on their pass-through income in 2015.
According to the campaign, the Clintons earned a $10.6 million income in 2015.
Bill Clinton and Hillary Clinton get paid a lot of money to talk. He delivered 43 speeches, for which he was paid fees ranging from $100,000 to $750,000. As a former USA president, Bill Clinton is entitled to receive a pension north of $200,000 a year. That’s lower than the $9.7 million he earned from speeches in 2014 and the $13.2 million he received in 2013. Her fees varied, but she earned as much as $315,000 for speaking to eBay in San Jose on March 11; she also collected $325,000 for speaking to the technology company Cisco in Las Vegas in August.
Recent polls show Clinton leading in most of the battleground states while making surprising inroads in others, like Utah and Georgia, that have been troublesome for Democrats. The GOP nominee has refused to release the records, saying that he is under a routine audit.
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During the decade or so that Clinton served as a USA senator and then secretary of state, Clinton reported that her husband made $105 million for delivering more than 540 speeches. The Clintons, who now live in Chappaqua, New York, paid an average effective federal tax rate of about 32 percent from 2007 to 2014 and an effective combined tax rate of approximately 40.5 percent. The vast majority of their income – almost $312,000 – came from their salaries. Under Trump’s proposal, they would be taxed at just 15%. We want to see the Clinton Foundation records showing how the Clintons sold our uranium to Russian Federation, ripped off Haiti and cut deals with oppressive regimes around the world. Her consulting contracts ceased when she became education secretary. He did so for the previous 29 years, according to the Washington Post.
