US presidential candidate Hillary Clinton said in a speech at a MI factory on Thursday that her jobs and tax plans would better help middle-class Americans than the plans released earlier this week by Republican rival Donald Trump.
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The filing shows that the Clintons paid a federal tax rate of 34.2 per cent.
Kaine and Holton over the past 10 years have had effective federal income tax rates ranging from 13.4 percent to 24 percent.
When asked what his tax rate was exactly, Trump responded, “It’s none of your business”.
CLAIM: “We do know that the 400 richest taxpayers in America would get an average tax cut of more than $15 million a year from this loophole”, Clinton said.
Like millions of Americans, the Clintons overpaid their tax bill a year ago. Since 2001, the Clintons have paid a rate each year that tops that 21.9% figure, ranging from a rate of 38.2% in 2002 to 25% in 2007. Their 2015 return was released today by the Clinton campaign, nearly five months after they signed it for filing.
“Hillary Clinton and Tim Kaine continue to set the standard for financial transparency as she releases her 2015 personal tax return and builds on the Clintons’ tradition of making their returns public since 1977 and Kaine releases 10 years of his returns”, campaign communications director Jenn Palmieri said in a statement. The Kaines paid an effective rate of 20% a year ago on $313,000 in income.
But aside from their earnings, the latest showing by the Democratic candidates was meant to put a spotlight on Trump’s failure to release his returns.
“There is an adage in politics: Don’t get in the way of a train wreck”, said Democratic strategist Bob Shrum, a top campaign aide to presidential candidates Al Gore in 2000 and John Kerry in 2004.
But he would let the spooks tell the presidential rivals and their running mates what they must under the law, said Barack Obama hoping that they would not spill the beans.
At a Clinton rally last week in Omaha, Nebraska, Buffett, whose Berkshire Hathaway conglomerate is based there, challenged Trump to meet and exchange tax returns.
“Hillary Clinton has turned over the only records nobody wants to see from her _ the American public wants to see the 33,000 emails she deleted to obstruct an FBI investigation”, said Trump spokesman Jason Miller. The Clinton campaign said that the couple has donated 7.5 percent of their adjusted gross income to charity over the past decade.
Of the the $1,042,000 the Clintons gave to charity as listed on their return, $1 million of that went to the Clinton Family Foundation. Both Clintons reported income from royalties and retirement plans and just over $84,000 in income from an investment in the Vanguard 500 Index mutual fund. She earned nothing in speaking fees in 2012, while at the State Department.
She had previously taken heat for saying in June 2015 that she and Bill Clinton were “dead broke” when they left the White House in 2001 because her husband’s legal bills had put them in debt. He’s sharply criticized Obama for announcing he would pull USA troops out of Iraq, a decision that many Obama critics say created the kind of instability in which extremist groups like IS thrive.
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Over the 10-year span, the two reported total annual income ranging between $156,967 and $314,398.
