News Worms
News Worms


Here's the Biggest Revelation From Donald Trump's Leaked Tax Return

Here's the Biggest Revelation From Donald Trump's Leaked Tax Return

But, according to the paperwork, Trump paid an additional $31 million in the "alternative minimum tax", a tax that Trump has previously said he wants to eliminate.

AMT was originally created to prevent rich taxpayers from using excessive loopholes, and Mr Trump has previously called for its elimination. Experts say an IRS audit does not bar someone from releasing the documents. But Trump's full returns would contain key details about things like his charitable giving and how much he made each year.

In October, The New York Times published a story based on a leaked portion of Trump's 1995 state tax returns in multiple states, showing that he declared a massive $916 million loss that year that could have enabled him to avoid paying federal income taxes for almost two decades.

It is not clear if Maddow unearthed an exclusive story for MSNBC or if the president released his tax returns to the media.

President Trump refused throughout the campaign to release his tax returns, and in doing so became the first major-party nominee - and now the first president - since Nixon not to do so.

"Just today breaking news, General Motors announced that they are adding or keeping 900 jobs right here in MI, and that's going to be over the next 12 months", he said as he met with automakers in the Wolverine State.

That would give the president an effective tax rate of about 25.3 percent for that tax year.

The snapshot was broadly favourable to the White House and appeared to back up Trump's claim that he paid his fair share of taxes. "Donald has a long history of leaking material about himself when he thinks it's in his interest".

It said Mr Trump had a responsibility to pay no more tax than was legally required. "It's entirely possible Donald Trump sent it to me", Cray told Maddow.

Johnston, however, did not provide evidence for that theory and argued later that the White House's response suggested the President was displeased with the release.

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