White House statement on MSNBC publishing Trump's 2005 tax return.
In response to Rachel Maddow of MSNBC revealing a portion of Donald Trump's tax returns for 2005, the White House issued the following statement:
"You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago.
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. 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.
Despite this substantial income figure and tax paid, it is totally illegal to steal and publish tax returns. The dishonest media can continue to make this part of their agenda, while the President will focus on his, which includes tax reform that will benefit all Americans."
Tax of £38 million dollars on income of $150 million dollars works out at a tax rate of around 25%.
This is higher than the average tax percentage paid by Comcast (owners of MSNBC) who, according to Citizens For Tax Justice, paid an average tax rate of 24%.1
It's also a higher tax percentage than the effective tax rate of 18.7%2 paid by Obama in 2015. Although of course to make a like for like comparison we would need to examine Obama's 2005 tax returns.
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Sources:
1 http://ctj.org/corporatetaxdodgers/tax-dodgers.php?id=67
2 http://www.washingtontimes.com/news/2016/apr/15/obamas-paid-effective-tax-rate-187-percent-2015/
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. 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.
Despite this substantial income figure and tax paid, it is totally illegal to steal and publish tax returns. The dishonest media can continue to make this part of their agenda, while the President will focus on his, which includes tax reform that will benefit all Americans."
Tax of £38 million dollars on income of $150 million dollars works out at a tax rate of around 25%.
This is higher than the average tax percentage paid by Comcast (owners of MSNBC) who, according to Citizens For Tax Justice, paid an average tax rate of 24%.1
It's also a higher tax percentage than the effective tax rate of 18.7%2 paid by Obama in 2015. Although of course to make a like for like comparison we would need to examine Obama's 2005 tax returns.
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Sources:
1 http://ctj.org/corporatetaxdodgers/tax-dodgers.php?id=67
2 http://www.washingtontimes.com/news/2016/apr/15/obamas-paid-effective-tax-rate-187-percent-2015/
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