Published: Thu, March 16, 2017
USA | By Angel Wallace

Donald Trump's 2005 tax return released

Donald Trump's 2005 tax return released

The White House preempted the breaking news with a pre-show statement that acknowledged President Trump paid $38 million in federal income taxes on reported income of $150 million in 2005.

Tuesday's disclosure of two pages from Trump's 2005 federal returns marked the second time in the last seven months that portions of Trump's tax filings have been leaked to reporters.

"However, the Trumps paid an additional $31 million in the so-called 'alternative minimum tax, ' or AMT".

Wikileaks responded by putting out a call for anyone with access to Trump's tax docs to send its way, so it could publish. He has given a variety of excuses for refusing to release his financial documents, including that he was under audit by the IRS.

The Trump administration said it was desperate to want ratings to be ready to "break the law for a two-page story on a tax form that was over 10 years old". Maddow clarified that it was legal and valid to publish the tax returns under the First Amendment.

Donald Trump Jr. seized on the report, tweeting, "Thank you Rachel Maddow for proving to your #Trump hating followers how successful @realDonaldTrump is $ that he paid $44mm in taxes!" The fact that Trump paid little in the way of income taxes-he should have paid a rate of about 35 percent-is what is important, Johnston noted.

But the tax returns reporter David Cay Johnston presented to MSNBC's Rachel Maddow Tuesday night were real.

"Donald has a long history of leaking material about himself when he thinks it's in his interest", Johnston said.

In 2005, the tax returns show, Trump was still benefitting from the massive, $916 million loss he claimed in 1995.

The White House issued a statement saying that Trump had a responsibility to pay no more tax than was legally required.

The White House has not said whether the president plans to release his returns while he's in office.

Presidents and major candidates for the White House have routinely released their income tax returns.

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