Public takes rare glimpse in President Trump’s obscure finances

MICHAEL REYNOLDS

Senate Minority Leader Democrat Harry Reid (C) speaks at a news conference held by Senate Democrats to discuss a bill requiring presidential nominees to release their tax returns, on Capitol Hill in Washington, DC, USA, 22 September 2016. Some Senate Democrats have criticized Republican presidential candidate Donald Trump for failing to release his tax returns. Also in the picture (L to R); Democratic Senator from Connecticut Chris Murphy, Democratic Senator from Michigan Stabenow, Democratic Senator from Oregon Ron Wyden and Democratic Senator from Maryland Ben Cardin.

Public takes rare glimpse in President Trump’s obscure finances


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In 2005, President Donald Trump paid $38 Million in Federal Income Tax on a $150 million income NBC revealed on Tuesday evening.

President Donald Trump is the first President – or even Presidential candidate – that has not released his tax returns since Richard Nixon.

The leaked 1040 tax return form is a summary but offers a rare glimpse in other obscure finances. It shows the President’s TV salary, business profits, and dividends but does not reveal the identities of companies and individuals with whom he did business. That means Donald Trump’s links with foreign states, including Russia, remain out of reach.

The investigative reporter, David C. Johnston, who uncovered the 1040 form says he found it in his mailbox.

In a statement on Tuesday evening, the White House verified the “illegally published” tax forms, specifying that Trump had a “responsibility to his company, his family and his employees to pay no more tax than legally required.”

In October 2016, the New York Times leaked Trump’s 1995 New York State tax returns that showed a $916 million loss. At the time, Trump could take advantage of a legal loophole to secure negative tax on future earnings on these losses for 18 years.

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