US

Trump paid a 25% tax rate on 2005 earnings, leaked return reveals

Journalist Rachel Maddow recently released two pages of President Trump’s 2005 tax return.

Trump’s tax return showed he paid $38 million in tax on $153 million of income.

That’s approximately a 25% tax rate.

The source of the leaked pages is still unknown.

[Jill Colvin, Associated Press White House Reporter]

“David Cay Johnston is a financial reporter, a Pulitzer Prize winner, who says that he found a copy, just two pages of Trump’s 2005 tax return, in his mailbox. He decided to release them on The Rachel Maddow show on MSNBC.”

The White House said in a statement that MSNBC violated the law releasing the return.

Whether what Maddow’s show did was illegal is a grey area, since they weren’t the original leaker.

Illegally publishing a tax return can carry a fine of $5000 and up to five years in jail.

Trump is the first presidential candidate in decades not to release his tax returns.