[Update] Trump blasts release of 2005 tax form
The journalist who obtained the purported first two pages of President Donald Trump's 2005 tax returns and made them public said this morning that Trump was probably not behind the anonymous release.
Maddow's reveal, when it finally came, was interesting if underwhelming: Trump paid $38 million taxes in 2005 at about a 25 percent rate and took a huge write-down. Showing that Donald Trump pays a low tax rate just proves he's an asshole.
"Conservatives - including the president's son Donald Trump Jr. - crowed that the documents showed Trump paid $38 million on $150 million in revenue, seemingly refuting claims that he dodged taxes". Nonetheless, the New York Times, which obviously supports the Democrats, released a copy of that return which showed that Trump had incurred a colossal investment tax loss totaling almost a billion-dollars.
"The president did not release them and I think it's offensive to ask that question", Spicer said, according to a pool report.
The White House responded in a heated statement before the episode even aired, claiming that "it is totally illegal to steal and publish tax returns" and calling MSNBC "desperate for ratings".
The bulk of Trump's tax bill that year was due to the alternative minimum tax (AMT), a tax aimed at preventing high-income earners from paying minimal taxes. Just like most other billionaires and millionaires in the United States, he's going to do everything he can to pay less money in taxes. He has said he will release the returns when they are no longer under audit by the IRS.
"And that tax return would be used as a very important piece of evidence as to whether or not she should get citizenship", Maddow said.
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Following the publicizing of the return, many called on the White House to be more transparent about the president's finances, as it would help dispel fears and theories about ties to Russian Federation.
Trump long insisted the American public wasn't interested in his returns and said little could be learned from them. Prior to the program, the White House released a statement saying Trump also paid "tens of millions of dollars in other taxes, such as sales and excise taxes" and describing the business losses listed as "large-scale depreciation for construction".
I don't know if this was a stunt, but it definitely felt to me like a ratings-grab on Maddow's part, and it was absolutely awful, unwatchable, pathetic television.
Johnston, a veteran investigative journalist who has authored a book on Trump, said that he received the tax returns in the mail.
Rachel Maddow holds up Donald Trump's 2005 1040 tax return form (MSNBC). I don't know if we will ever get full closure on this issue, but I do believe that what Maddow did tonight, while it may have harmed her reputation generally, actually makes it much more likely that we might.
The returns do demonstrate that Trump paid substantial taxes, but took advantage of tax rules when he could to minimize what he owed.
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