Posted on 03/15/2017 3:18:57 PM PDT by IBD editorial writer
When MSNBC's Rachel Maddow started promoting her big scoop about President Trump's tax returns, she made it seem like it would be the shocker story of the year.
Trump resolutely refused to release his tax returns during the campaign, a break from tradition for presidential candidates. So many in the media were anxiously awaiting what they expected were embarrassing revelations.
Turns out that in 2005 — the only return Maddow got her hands on — Trump paid a huge amount of taxes: $38 million to be exact.
Based on his income for the year, that worked out to a tax rate of nearly 25% on every dime Trump made.
The reporter who obtained the tax form, David Cay Johnston, tried to make this seem like Trump was getting some huge break from the tax code.
"Donald Trump was paid that year like a member of the 0.001%," he said, "but he paid taxes like the 99%. And by at least one measure, he paid like the bottom 50%."
Whatever Johnston's credentials are as a financial journalist, reading IRS data isn't one of them.
(Excerpt) Read more at investors.com ...
And it seems that Hillary didn’t pay “her fair share” as if paying your taxes is a voluntary thing.
The leftists make the AMT sound like some sort of a bargain that lets you get away with low taxes. That couldn’t be further from the truth.
The AMT is a default flat tax for those having a good year.
After you’ve jumped through all of the government hoops designed to lead you into one favored investment or another—you get to work through your income taxes, and then after you’ve planned and worked all year according to the tax incentives, you get to re-calculate it, and if you’ve been too successful, you get hit with the AMT. It really sucks, is very frustrating.
Wonder if a Trump operative planted the tax returns, knowing full well the law means nothing to leftist newscasters : )
Trump should still pursue the leakers. An example needs to be made of them, or they will do it again — maybe to you or me.
Exactly.
First I’d like to see Madcow brought up on charges, fined and jailed; that’ll show all that the MSMLSD is not above the law.
I heard that Rachel did not violate any laws because someone else leaked this info, is that true??
I have to think that the lawyers at NBC would have banned her broadcast if she was breaking the law wouldn’t they?
But what did the liberals accomplish with this? Trump pays a heck of a lot of taxes. Did they want to show that he didn’t pay his fair share?? What’s their point???
Still waiting for Uncle Bernie to pay his “Fair Share” come on Bernie, be a good lil Socialist and cough up 80 percent of your wealth to the Govt..and really is there a need for Bernie to have THREE Houses..he should give up one..for the cause of course
Rachel MadCow is probably banging her head against the wall because all she did last night was give Trump another 10 points to his approval rating..all she did was show that Trump is an honest businessman who PAID a crapload in taxes..if I had to fork over 38 mil to the Govt and all that dough went to illegal aliens and funding abortions Id want to run for President too
Reading the lead up hype to the story then the show then the whoopsie at the end. Pie face.
Thank you, inadvertently based transman.
Still amazed at the blinding stupidity of going on the air with this tax return even as it dispels many of the lies the Fake News Media have been spinning for months.
If Trump were the leaker, why would he be so sure the leftists would run with this particular tax return?
And if he were the leaker, wouldn’t it make more sense to leak it to someone at Fox News where it would get good spin?
When the GOP used to do stupid things (they still do), we’d wonder how anyone would be so blind as to not see the consequence coming. I thought the Left were evil but also very intelligent. What this is showing is that the Left can easily be rope-a-doped by Trump, the chessmaster, into making really stupid mistakes when many of us thought they were smarter than that.
If I was going to set up the media on this, David Cay Johnston would be the perfect tool/fool to send the document to. Per wiki he is “an American investigative journalist and author, a specialist in economics and tax issues”. He has previously investigated DJT’s financial issues. He is also a far left liberal who never graduated from college.
For the left it was all about feelings. They all got to participate in their daily minute of Trump hate. Who cares what the reasons were.
Considering that the US population was about 300 million in 2005, the average person's share of payments to the government would have been about 0.0000007%.
ML/NJ
Thank you John. Great article. Maddow is an idiot.
Houston Chronicle head line is TRUMP WR0TE OFF 50 MILLION IN TAXES.
I had to take some deep breaths in the grocery store. I considered ripping it to pieces or spitting on it.
Tonight a Houston teacher is on the hot seat for tweeting, in a back and forth tweet with a Muslim, that he hates Islam. The reporter kept saying he said he hates Muslims. Of course, they interviewed a CAIR rep.
This world is too full of idiots to survive. I won’t be here, thank God, but within 40 years the world will be under Sharia law. These people are giving a world of living hell to their children and grandchildren.
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