BOMBSHELL: Rachel Maddow Unveils Donald Trump’s 2005 Tax Return
*This story is still developing and we will update it as the details come in.*
Rachel Maddow made a bombshell announcement on Tuesday evening that her show had obtained copies of Donald Trump’s 2005 tax return. And on her show Tuesday night that Maddow unveiled Donald Trump’s tax return.
Maddow confirmed that she had received the 2005 tax return from Pulitzer prize winning journalist David Cay Johnston.
Both Johnston’s website DCReports.org and Maddow’s Maddowblog.com crashed Tuesday night.
Maddow began her show by reraising the question of why Donald Trump has refused to unveil his taxes. As others have done, Maddow noted that Trump’s claim that he is under audit and cannot release the returns just doesn’t add up.
So Maddow asks the next obvious question about Trump’s tax returns. If Trump’s excuse for not releasing his taxes don’t add up, then we must look for another explanation for why Donald Trump won’t release his taxes.
Maddow also raised the question of why someone would leak Donald Trump’s tax return.
Maddow then revealed that she has the first two pages of Donald Trump’s 1040 form.
Trump made about $150 million in income in 2005.
And Trump paid $5.3 million in federal income tax and $31 million in alternative minimum tax, Johnston and Maddow revealed. Trump paid an effective tax rate of 25 percent.
Trump paid an effective tax rate of 25 percent.
Johnston noted that despite paying the alternative minimum tax, Trump received a massive discount on his taxes, through loopholes only available to the wealthy, meaning his tax rate is equivalent to a middle-class family, and not a billionaire.
Rachel and Johnston also pointed out how Donald Trump’s proposed tax policies would seem to benefit himself tremendously.
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