Clinton and her husband, former President Bill Clinton, reported earning $10.6 million in adjusted gross annual income in 2015. Trump’s tax rate itself has been posited as a possible reason for the campaign’s reticence; the New York Times today floated the possibility that Trump may have paid zero federal income tax in some years. Taking into account their state and local taxes, the Clintons had a total effective tax rate of more than 43 percent. But they seem to have scaled back such income in recent years.
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Mr Trump, who has released a self-reported financial disclosure form, said he will not make his tax returns public until the Internal Revenue Service completes audits of them.
“Donald Trump is hiding behind fake excuses and backtracking on his previous promises to release his tax returns”, Palmieri said Friday.
Presidential candidates typically release their tax returns to the media to show their effective tax rate, charitable donations and other financial details.
But so far, with Trump being an unconventional candidate, he’s bucked this tradition.
Between January 2014 to April 2015, Clinton raked in a cool $5 million for her book “Hard Choices”, according to a campaign finance report released earlier this year. They gave more than $1,042,000 to charity, with $1 million going to the Clinton family foundation.
They paid about $10 million in taxes with a tax rate of 36 percent.
Hillary Clinton is set to go after Donald Trump’s economic agenda, aiming to portray her rival’s approach as offering handouts for the rich that could imperil the economy.
“And I mean, if it is true, that’s OK too because all I have to do is stop funding the Republican Party”.
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Hillary Clinton’s income from paid speeches dropped by $9 million from 2014 to 2015, when she gave only a few such talks.
The billionaire real estate mogul’s unusually candid reflections about the uncertainty of his electoral prospects come as he’s struggling to keep the focus on his opponent – Clinton – and avoid distractions.
Democrats believe Mr Trump’s returns could be a treasure trove of politically damaging information.
Instead the returns would be an issue if he wasn’t as wealthy and successful of a businessman as he’s claimed.
Trump has said he is worth more than $10bn, but no one has been able to confirm this independently.
Most released their returns for several years, such as Bob Dole in 1996. “It’s both possible and legal that Donald Trump would pay little or no income tax”, said Len Green an accountant from the Green Group to The NY Times.
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Trump had told The Associated Press in May that he would not release his returns before the November 8 elections. You’ll see it when I release. The same day, the reality show star acknowledged that his lack of political correctness could cost him the election if Americans reject his blunt approach.
