Clinton, who filed jointly with her husband, paid an effective federal income tax rate of 34.2% previous year, and the Clintons donated 9.8% of their adjusted gross income to charity, according to the campaign.
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If the Trump campaign is going to raise questions about the Clinton Foundation’s financial dealings, which are fair game, his own business dealings and tax returns should be fair game.
Sen. Tim Kaine, Clinton’s running mate, and his wife, Anne Holton, are also releasing 10 years of their returns. IRS officials have said there’s no law preventing taxpayers from releasing their returns to the public, even if they’re under audit. It may be easier for the Clintons to release the details of their finances than it would be for Trump to release his, since almost all of their income is from book sales and speech fees, both of which Hillary Clinton has already made public in her filings with the Federal Elections Commission.
Most of the income came from Clinton’s speaking fees as Hillary has been campaigning for president.
The Clintons also donated a million dollars to the non-profit foundation that bears their name.
Clinton released her 2015 federal income tax return on Friday in a move to pressure Trump to release his returns. He has said he is unlikely to do so before the November 8 presidential election.
That document gave only an estimate of Trump’s assets, liabilities and income.
Analysts and political opponents have challenged that explanation, with fellow billionaire Warren Buffett saying he, too, is being audited, but saying he’d release his returns if Mr. Trump did as well. It said she “understands the complex and volatile world we live in, and she has the temperament to be president and commander-in-chief”.
Trump and his lawyers have cited an audit by the Internal Revenue Service as a reason for his refusal to release his returns. Forbes magazine estimates Trump is worth less than half that – $4.5 billion. Tax returns filed by the Clintons have been made public, in some form, for every year back to 1977.
King said he supports Trump’s proposals on border security, a three-tiered tax plan and placing a moratorium on new federal regulations. Hillary also made $3 million in proceeds from her book Hard Choices.
Clinton led Trump by more than five percentage points in a Reuters/Ipsos poll released on Friday.
“The records we need to see are those being hidden, deleted, obstructed and stashed away by Hillary Clinton to keep authorities from untangling this corrupt scheme that reaches into the world’s shady corridors of power”, he said.
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.
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Income is taxed up to 39.6 percent by the federal government, while capital gains are only taxed at 20 percent rate for people in the highest federal income tax bracket.
