The big story of the night is President Trump’s 2005 tax returns. As it turns out, he paid $38 million in taxes on over $150 million of income. Zero Hedge broke this down– he paid “$5.3 million in regular federal income tax, and an additional $31 million of ‘alternative minimum tax,’ or AMT.”
It’s an impeachable offense, clearly.
“Before being elected President, Mr. 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,” the White House said in a statement. “That being said, Mr. Trump paid $38 million dollars even after taking into account large scale depreciation for construction, on an income of more than $150 million dollars, as well as paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes and this illegally published return proves just that.”
So, what’s the big takeaway? Are we supposed to feel angry? Outraged? Relieved? I have no idea. Trump paid what he was legally obliged to pay. Not seeing how that’s any sort of bombshell. But I’m fully expecting MSM to whine about his tax rate tomorrow. It’s coming, mark my words. That being said, we might as well get this out of the way.
— MATT DRUDGE (@DRUDGE) March 15, 2017
Ah yes. Wasn’t Obama’s effective federal income tax rate 18.7 percent in 2015? And who could forget about everyone’s favorite senile socialist, Bernie Sanders?
Trump 2005 tax rate: 25%
Romney 2011 tax rate: 14.1%
Sanders 2014 tax rate: 13.5%
Obama 2015 tax rate: 18.7%
— Hannah Bleau (@hannahbleau_) March 15, 2017