Rachel Maddow Releases 12 Year Old Trump Tax Return From 2005 To Find Nothing

Rachel Maddow Releases 12 Year Old Trump Tax Return From 2005 To Find Nothing
Trump earned about $150 million in income in 2005, and paid $38 million in taxes, This gives Trump an effective tax rate of about 24 percent, “No Big Deal”

NBC Reports:
The White House confirmed Tuesday night that President Donald Trump paid $38 million in federal income tax on more than $150 million in income in 2005 after MSNBC’s “The Rachel Maddow Show” said it would release the details.

DCReport.org obtained two pages from what it said were Trump’s 2005 Form 1040. The site’s founder, David Cay Johnston, a former reporter for The New York Times, disclosed the details of the two pages, which he said were sent to him through the U.S. Postal Service, on Maddow’s program.

The pages come from a part of the return that doesn’t break down Trump’s specific sources of income. In broader terms, the pages reveal that Trump reported about $152 million in income — $67 million in rental income, about 60 percent more than he reported from his general business interests.

The White House said the $152 million in income was derived after accounting for “a large-scale depreciation.” The pages show a writedown of $103.2 million. He paid the Alternative Minimum Tax of about $38 million.

In a statement, the White House said the “illegally published” pages proved only that Trump “was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required.”

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