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MSNBC's "Tax Records" Non-Story: Trump Made $150MM, Paid 25% Tax Rate, More Than Romney, Bernie
Zero Hedge ^
| 03/14/2017
Posted on 03/14/2017 7:34:49 PM PDT by SeekAndFind
While Rachel Maddow drones on with the coherence of Janet Yellen, losing thousands of viewers by the minute, the MSNBC anchor was promptly scooped not only by the White House which revealed her "secret" one hour in advance, but also by the Daily Beast which reported that its contributor David Cay Johnston had obtained the first two pages of Trumps 2005 federal income tax return, allegedly receiving them in the mail, and posted his "analysts" on his website, DCReport.org.
According to the documents, Trump and his wife Melania paid $38 million in total income tax, consisting of $5.3 million in regular federal income tax, and an additional $31 million of alternative minimum tax, or AMT.
The White House statement confirmed the finding: 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.
As the Beast notes, 2005 was the year that Trump, then a newly minted reality star, made his last big score as a real-life real estate developer, when he sold two properties, one on Manhattans west side and one in San Francisco, to Hong Kong investors, accounting for the lions share of his income that year.
It is totally illegal to steal and publish tax returns, the White House statement concluded. 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.
But the real story here is that there is no story: what MSNBC confirmed is that Trump made more money than some of his critics said he made in the period in question, and more importantly, that he paid a generous effective income tax rate, well above the 14.1% rate paid by Mitt Romney, and even higher than the 13.5% federal tax rate paid by Bernie Sanders in 2014.
Sadly for Maddow, with this attempt at a "blockbuster" story which has quickly backfired, she may well have killed the great distraction that was the trope of Trump's tax returns, and which the rest of the "resistance" press hammered on every now and then.
TOPICS: Culture/Society; Front Page News; Government; Politics/Elections
KEYWORDS: 2005; incometaxes; irs; maddow; maddowfelony; msnbc; rachelmaddow; taxrecord; trumptaxes
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To: Celtic Conservative
41
posted on
03/14/2017 8:32:54 PM PDT
by
Ken H
(Best election ever!)
To: MtnClimber
What you say is also true.
To: MaxistheBest
You can probably add another $20 million or more in state, local, city and sales taxes into the mix.
I read where Trump paid 10 million in state taxes.
Leaking Trump's tax return is a federal crime. Someone committed a Federal crime for nothing.
To: MtnClimber
Trump paid a 120% effective rate.
To figure your effective tax rate you divide “Total tax” (Line 63) by “Taxable Income” (Line 43).
Trump paid $38M on $31.5M taxable income. Not too many returns look like that.
To: SeekAndFind
45
posted on
03/14/2017 9:00:41 PM PDT
by
HotHunt
To: Ken H
LOL!
There Rachel is now!
CC
46
posted on
03/14/2017 9:02:34 PM PDT
by
Celtic Conservative
(CC: purveyor of cryptic, snarky posts since December, 2000..)
To: WENDLE; SeekAndFind
47
posted on
03/14/2017 10:10:36 PM PDT
by
Baynative
( Someone's going to have to pay for these carbon emissions, so it might as well be you.)
To: SeekAndFind
48
posted on
03/14/2017 10:13:54 PM PDT
by
onyx
(DONATE MONTHLY! JOIN Club 300!)
To: SeekAndFind
How much did the Clinton crime syndicate pay from the hundreds of millions in bribe money they diverted from their Clinton money laundering foundation?
To: SeekAndFind
I dont get it, what was the point of Fonzie releasing this on his show? He just showed Trump pays an assload in taxes.
To: SeekAndFind
Now
this is funny. Michael Moore does an about face=>
____________________________________________________________________
Michael Moore ✔@MMFlint
Turn on Rachel @Maddow! MSNBC!
6:21 PM - 14 Mar 2017
https://twitter.com/MMFlint/status/841821560876982272
____________________________________________________________________
Michael Moore ✔@MMFlint
Clearly the source of the "leaked" return is Trump himself. 10-20 missing pages w/ key info. This is to DISTRACT us from Russia, health care
11:26 PM - 14 Mar 2017
https://twitter.com/MMFlint/status/841852991896457216
51
posted on
03/14/2017 11:14:08 PM PDT
by
Ken H
(Best election ever!)
To: SeekAndFind
It took over 30 years for someone to top @GeraldoRivera for biggest over-hyped live TV epic fail in history. You did it Rachel Maddow !
Mark Dice (@MarkDice) March 15, 2017
LOL! Gotta love Mark Dice
52
posted on
03/15/2017 12:07:51 AM PDT
by
Angels27
To: SeekAndFind
Next Rachel Maddow story: Someone, somewhere, really gives a sh!t!
He made a lot. He paid a lot. So what.
53
posted on
03/15/2017 1:10:35 AM PDT
by
Eleutheria5
(“If you are not prepared to use force to defend civilization, then be prepared to accept barbarism.)
To: I want the USA back
Not only the person who made the copy, but Madcow himself committed a felony on live TV and should also be prosecuted.
54
posted on
03/15/2017 1:13:19 AM PDT
by
Fresh Wind
(Hillary: Go to jail. Go directly to jail. Do not pass GO. Do not collect 2 billion dollars.)
To: All
how is this not a crime? If they can do this to one of the wealthiest people in the world, what chance do any of us have when we speak out?
55
posted on
03/15/2017 1:40:52 AM PDT
by
newnhdad
(Our new motto: USA, it was fun while it lasted.)
To: Kickass Conservative
That is an excellent point, and you should send it to Rush Limbaugh, Sean Hannity and others.
56
posted on
03/15/2017 3:20:17 AM PDT
by
Hardastarboard
(Freedom Trumps Fascism)
To: SeekAndFind
I don’t give a rip what Trump made, why should he pay so much more for the same government services? Half the population pay no federal income tax yet receive most of the benefits? As stated in the article, president Trump also paid tens of millions in other taxes.
57
posted on
03/15/2017 3:54:09 AM PDT
by
Neoliberalnot
(Marxism works well only with the uneducated and the unarmed)
To: SeekAndFind
You don’t suppose he paid some property taxes?
58
posted on
03/15/2017 4:58:50 AM PDT
by
Does so
(USA: Watching Muslims' 2nd US Generation become "Radicalized"...)
To: Does so
RE: You dont suppose he paid some property taxes?
If he did, and as property owner, I’m sure he has, they would be deductible from his federal taxes.
To: SeekAndFind
Another question is, why did they pick THIS tax return? If they had access to all of them, why not release those too? If this is an inside job at the IRS they will hopefully be found out.
Either way, someone has committed a felony and should go to prison.
60
posted on
03/15/2017 7:20:45 AM PDT
by
unixfox
(Abolish Slavery, Repeal the 16th Amendment)
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