First Return Out

So Rachel Maddow had a HUGE announcement tonight that she had secured two pages of one of Trump’s tax returns, apparently leaked to MSNBC in violation of federal law. I didn’t watch her broadcast since I have a low tolerance for her smugness. I knew how it would go: twenty minutes of connect-the-dots condescending intro, a dud of a revelation and back-patting for the remainder. Well, I was right:

Donald Trump earned more than $150 million in the year 2005—and paid just a small percentage of that in regular federal income taxes. Daily Beast contributor David Cay Johnston has obtained what appear to be the first two pages of Trump’s 2005 federal income tax return, and published an analysis of those pages on his website, The Daily Beast could not independently verify these documents.

The documents show Trump and his wife Melania paying $5.3 million in regular federal income tax—a rate of less than 4% However, the Trumps paid an additional $31 million in the “alternative minimum tax,” or AMT. Trump has previously called for the elimination of this tax.

This is less than a nothingburger. This almost makes Trump look good. So much so that almost everyone in my feeds think that Trump himself was the source of the leak (the White House responded almost instantaneously to the report). 2005 was the last year Trump has a big business deal, selling off two of his assets. It was also before several sources insist he became entangled with Russian interests.

A large segment of the Left, having realize what a dud this was, are now praising Maddow for “keeping the issue at the forefront”. Pfft. The issue was never a big deal for Trump’s supporters. I think we can now make the argument that Trump should release all of his tax returns. But that argument has not changed.

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  1. AlexInCT

    The sad thing here is how these morons hyped it as if they had a gotcha about Trump that was going to end his presidency or something. Then they left all the progs already fantasizing how magically this revelation would turn into them being back on top feeling like they got ass raped without the benefit of a reach around. Oh don’t get me wrong: I love the way this blew up on these idiots, but at this point I admit I am starting to feel sorry for these snowflakes. These people refusing to accept reality and thinking they will somehow magically be able to get rid of Trump  are going to start snapping soon, and then we are going to have to deal with even more moronic shit.

    It’s also got to hurt the Hillary was also exposed as a liar for claiming Trump didn’t pay any taxes during the campaign – he clearly did – and now it turns out he made some real big money and also paid a higher federal tax rate than a bunch of people always complaining or supporting those complaining about others not paying their fair share (at least in 2005).

    And I am wondering if this was just pure desperation making people do stupid shit or if someone is orchestrating this all, because if it is the later, it is pure genius. The left is just too desperate to avoid the current reality and continues to be their own worst enemy as Cress surely was trying to point out above..

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  2. Hal_10000 *

    Well, to be fair Alex, Trump’s taxes would have bee 4% if not for the AMT.  Clinton was right in that Trump’s business losses in ’95 could have basically have wiped out all his tax liability for the next decade. But she was wrong in that this was a bad thing.  There’s a reason we allow business losses to be carried forward like that.

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  3. AlexInCT

    Well, to be fair Alex, Trump’s taxes would have bee 4% if not for the AMT.

    I am not sure I get your point, Hal. Me, I actually cheer for people that pay the least amount possible, legally of course, because we are over taxed. I don’t suffer from the envy too many people do, and I certainly find it galling that the party which has the most tax avoiding,criminal financial types you can think off, constantly sets the bar and pretends when the other side doesn’t like to pay taxes that’s bad. If it was such a virtuous thing to do I would expect these leftists that have never seen a tax they didn’t like lining up to pay more.

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