In the same week that Hillary Clinton released her 2015 tax returns Donald Trump essentially showed everyone a note from his lawyer explaining why the billionaire isn’t allowed (by the lawyer) to do the same.
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According to the returns, in 2015, the Clintons paid an effective federal income tax rate of 34.2 per cent and an effective state and local income tax rate of nine per cent for a combined federal, state, and local effective tax rate of 43.
Her running mate, US Senator Tim Kaine of Virginia, also released his tax return, showing he and his wife paid a federal effective tax rate of 20.3% in 2015, the campaign said. Total income for Kaine and his wife Anne: $313,000.
Clinton’s campaign noted Trump’s refusal to make his tax returns public.
In 2014 their total tax bill was just under $10 million, so you could buy a pretty nice oceanfront mansion with the amount Bill and Hillary Clinton did NOT have to pay in taxes this year.
“In stark contrast, Donald Trump is hiding behind fake excuses and backtracking on his previous promises to release his tax returns”, Palmieri said.
Trump has said that his returns are now being audited and he would release his returns after it is completed.
When pressured in the past, Trump has insisted that “there’s nothing to learn” from his returns, pointing to the fact that he has released a personal financial statement – which is legally required.
The Clinton campaign yesterday challenged Trump to release his tax returns. Every major-party nominee since the late 1970s has released tax returns before Election Day.
The pair donated 7.5 percent of their adjusted gross income to charity over the course of the past 10 years.
The figures show Hillary and Bill Clinton earned almost $11m in 2015, and paid a total of 43.2% tax.
The Republican candidate has said he is worth more than $10 billion, but no one has been able to confirm this independently. More than half the earnings came from Bill Clinton’s speaking and consulting fees.
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.
The release coincides with a new Clinton campaign web video featuring Republicans pressuring their nominee to release his returns.
The bulk of the Clintons’ income – £4.6 million – came from speaking fees for appearances made largely before Ms Clinton launched her campaign. “What is he trying to hide?” asked Palmieri.
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A New York Times poll-of-polls puts Mrs Clinton ahead of Mr Trump by an average 46% to 39%. “Even Republicans think so”.
