Trump paid $38 million in taxes in 2005: White House
President Donald Trump
paid $38 million in taxes on more than $150 million in income in 2005, the
White House said on Tuesday, responding to an MSNBC report that the network had
obtained two pages of the returns.
MSNBC host Rachel
Maddow said she received the documents from journalist David Cay Johnston, who
said on her show that he received them in the mail.
The returns, which
MSNBC posted on its website, showed Trump paid an effective federal tax rate of
25 percent in 2005 after writing off $100 million in losses.
The White House said in
a statement that Trump took into account "large scale depreciation for
construction."
Trump has repeatedly
refused to release his tax returns; drawing criticism throughout his campaign
last year and speculation from his political rivals he was hiding something.
A New York Times report
in October said Trump, a New York real estate developer, declared a $916
million loss on his 1995 income tax returns. The newspaper said the large tax
deduction could have allowed him to avoid paying federal income taxes for up to
18 years.
But the returns posted
by MSNBC on Tuesday showed that he did pay taxes in 2005. The returns do not
indicate whether he paid taxes in other years or how much he might have paid.
The Washington Post reported last year that Trump paid no federal income taxes
for at least two years in the late 1970s.
The White House said in
a statement on Tuesday that Trump, as head of the Trump Organization, had a
responsibility "to pay no more tax than legally required."
Presidents and major
candidates for the White House have routinely released their income tax
returns.
Trump says he has not
released his tax returns because they are under audit by the Internal Revenue
Service. Experts say an IRS audit does not bar someone from releasing the
documents.
During a September
presidential debate, Democratic candidate Hillary Clinton criticized Trump, a
Republican, for paying no federal income taxes.
"That makes me
smart," he responded.
Trump has feuded with
the media since his inauguration, often accusing it of promoting "fake
news" intended to undermine his presidency.
"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,"
the White House said on Tuesday.
No comments