If Trump refuses to release his personal taxes, he will become the first presidential nominee to holdout since Richard Nixon.
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In 2015, the Clinton’s paid $3.24 million in federal income taxes, amounting to effective tax rate as 34%, according to the Clinton campaign.
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%. Her opponent’s refusal to release his own returns makes Clinton’s wealth and its origins harder for Republicans to assail.
“I am proposing an across-the-board income tax reduction”, said Trump back on August 8th while talking about his economic agenda.
Trump delivered an address Monday to the Detroit Economic Club, outlining a plan to cut taxes and get rid of regulations.
A federal official yesterday said the US Secret Service had not formally spoken with Republican Donald Trump’s presidential campaign regarding his suggestion a day earlier that gun rights activists could stop Democratic rival Hillary Clinton from curtailing their access to firearms. Their income was down sharply from $US28 million in 2014, when they paid an effective tax rate of more than 35%. Trump also has said his taxes are no one’s business and that they reveal little.
Campaign aide Jennifer Palmieri said in a statement that Clinton and Kaine “continue to set the standard for financial transparency”, and called on Trump to release his own tax records, as every major presidential candidate has done for the past four decades. “Yesterday we witnessed the latest in a long line of casual comments from Donald Trump that cross the line”. She’ll also play up her focus on job development, public works projects and tax policy, say aides who previewed the speech.
The ad shows a series of Republicans, including Mitt Romney, Mitch McConnell and Ted Cruz, blasting the supposed billionaire businessman for hiding his tax returns from the public.
The Clintons have disclosed tax returns for every year since 1977. Over the past 10 years, the couple have donated 7.5 percent of their adjusted gross income to charity, according to the release.
While technically anyone making more than $415,000 per year is subject to a 39.6 percent tax rate, there are a wide array of tax breaks that allow them to lower that rate substantially, often well below the rates paid by middle-income earners.
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The Clintons’ 2015 return showed that, unlike most Americans, just $100 of their income came from wages.
