MSNBC's "Tax Records" Non-Story: Trump Made $150MM, Paid 25% Tax Rate, More Than Romney, Bernie

Tyler Durden's picture

While Rachel Maddow drones on with the coherence of Janet Yellen, losing thousands of viewers by the minute, the MSNBC anchor was promptly scooped not only by the White House which revealed her "secret" one hour in advance, but also by the Daily Beast which reported that its contributor David Cay Johnston had obtained the first two pages of Trump’s 2005 federal income tax return, allegedly receiving them in the mail, and posted his "analysts" on his website, DCReport.org.

According to the documents, Trump and his wife Melania paid $38 million in total income tax, consisting of $5.3 million in regular federal income tax, and an additional $31 million of “alternative minimum tax,” or AMT.

The White House statement confirmed the finding:  “Before being elected President, Mr. Trump was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required,” the White House said in a statement. “That being said, Mr. Trump paid $38 million dollars even after taking into account large scale depreciation for construction, on an income of more than $150 million dollars, as well as paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes and this illegally published return proves just that.”

As the Beast notes, 2005 was the year that Trump, then a newly minted reality star, made his last big score as a real-life real estate developer, when he sold two properties, one on Manhattan’s west side and one in San Francisco, to Hong Kong investors, accounting for the lion’s share of his income that year.

“It is totally illegal to steal and publish tax returns,” the White House statement concluded. “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.”

But the real story here is that there is no story: what MSNBC confirmed is that Trump made more money than some of his critics said he made in the period in question, and more importantly, that he paid a generous effective income tax rate, well above the 14.1% rate paid by Mitt Romney, and even higher than the 13.5% federal tax rate paid by Bernie Sanders in 2014.

Sadly for Maddow, with this attempt at a "blockbuster" story which has quickly backfired, she may well have killed the great distraction that was the trope of Trump's tax returns, and which the rest of the "resistance" press hammered on every now and then.

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J bones's picture

Gotta love stupid people.

Dog Will Hunt's picture

Gotta love desperate Republikovs.  

The_Juggernaut's picture

They're striking out right and left.  lmfao

Chris Dakota's picture
Chris Dakota (not verified) The_Juggernaut Mar 14, 2017 9:40 PM

Hey IRS Employees!!

Leak Maddow's tax returns, bet she paid less and never was audited.

stinkhammer's picture

Maddow can go fuck herself, oh wait.

Dormouse's picture

Doesn't 25% of anyone's income from their own blood, sweat and hard work seem an absurd amount to pay assholes who tell you how to live and waste it on stupid shit and losers? I paid more living in California and got nothing in return. Except told I'm a privileged white racist. Fuck the IRS with a crooked wooden stick.
And the People's Republic of California Franchise Board as well. Fix the roads!

Killdo's picture

I've lived aroudn the world - and in no other country you pay so much tax as we do to Uncle Satan  and get so little back - or nothing at all. 

 

hedgeless_horseman's picture

 

As someone that has worked non-government jobs since before I was 14, and been forced by threat of imprisonment to give more than 20% of my earnings to pay for Mother Muzik's Fruit Loops, I am tempted to harbor deep resentments against blacks.

 

 

 

http://www.zerohedge.com/news/2017-03-14/i-am-tempted-harbor-deep-resent...

ACP's picture

Trump just earned his 9th degree black belt in media trolling.

Four chan's picture

fucking nothing retarded left.

Mano-A-Mano's picture
Mano-A-Mano (not verified) stizazz Mar 15, 2017 2:21 AM

Trumptards really want to believe that.

Mano-A-Mano's picture
Mano-A-Mano (not verified) Mano-A-Mano Mar 15, 2017 2:21 AM

Let them.

CuttingEdge's picture

You can see the MSM's next line of attack:

Since it is obvious Trump paid more tax than he needed to, he is obviously incompetent (or even insane) and therefore not fit to be president.

FrozenGoodz's picture

He leaked this ... distraction in chief

cayman's picture

"Trump made $150MM and he's not the elite??? Jeez!!!"

By that standard, the founders were elite.  I'll take the freedom elite over the tyrannical elite an day of the week.

Wealthy does not equal tyrannical.  All wealthy / successful people are not tyrants.

Ballin D's picture

you keep replying to yourself Mano-A-Mano.  We all know who you work for.

MalteseFalcon's picture

"Trump made $150MM and he's not the elite??? Jeez!!!"

Trump only made $150 million!

He's a piker!

I knew it.

Doom Porn Star's picture

Nothing BUT retarded left and right.

The entire USA seems to have devolved into CSC.

Crazy Stupid Criminal™

The DISEASE.   Mass Psychosis -on a national level.  

The whole God-forsaken nation has jumped the shark, the rainbow, the Moon, and whatever else there was that stood between sanity and complete abandonment of it...

Lord help me, I'm stone cold sober, being 100% dead serious; -and wish I wasn't.  

Crazy Stupid Criminal™ 

I don't know what is left to say.   

There is no where to run to.   -No where to hide.

Fuuuuuuuuuuuck..

Justin Case's picture

"no other country you pay so much tax"

Ya musta missed Canada.

Mentaliusanything's picture

Agree but you have a Kick ass Mititary old son!

flicker life's picture
flicker life (not verified) Mentaliusanything Mar 15, 2017 6:22 AM

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://bit.ly/2jdTzrM

swamp's picture

Receiving stolen property is a crime.

T paid way toouch in all kinds of taxes. No wonder he is slashing waste

Theosebes Goodfellow's picture

~"And the People's Republic of California Franchise Board as well. Fix the roads!"~

I found a perfect solution to the issue of the sad condition of California's highways and roads. I moved out of the state.

New_Meat's picture

Dormouse, even God only wants 10%

_SILENCER's picture

I live here too, and I completely agree.

Gov Brown is a total goddamn marxist and utterly in the pocket of La Raza. When this place finally explodes in a spic war, where they attempt to run out or kill all the gringos,  all the soft liberals will get eaten by the predator class.

Zero_Ledge's picture

If this is such a non-story, then there is certainly no reason not to release, say, 10 years of returns? And also the full returns with all schedules.  Let's get the real picture.

Chris Dakota's picture
Chris Dakota (not verified) Zero_Ledge Mar 14, 2017 10:19 PM

Trump paid more in tax than all previous presidents combined.

Rachel Geraldo Rivera Maddow

tune in tomorrow for page 3

Zero_Ledge's picture

Did he pay a higher rate than other presidents ??

Mr. Crisp's picture

Yes. They didn't know how to run TurboTax.

nmewn's picture

Well hell! He doesn't need a Treasury Secretary then, saves the taxpayers even moar!

Still winning! ;-)

tenpanhandle's picture

@zero "Did he pay a higher rate than other presidents ??"  What enquiring minds  really want to know is did Trump write off his used underwear?

LowerSlowerDelaware_LSD's picture
LowerSlowerDelaware_LSD (not verified) Zero_Ledge Mar 14, 2017 10:17 PM

"...there is certainly no reason not to release, say, 10 years of returns?"

Yes there is.  The reason is that it is none of your business.  His taxes are between him and the IRS.  And, no, you can't have my tax returns either.  All of these fucking tax return fetish leftists out there.  Trust your IRS, leftists.

Zero_Ledge's picture

You're not a public servant who works for me, so I don't care about your taxes.  Trump is all love and light, so his tax returns would certainly be harmless right?  Trump said so himself.

Also, Trump said on multiple occasions that he would release his returns after the audit was over.  I don't like being lied to.  How about you?

 

nmewn's picture

You should have thought about "public servants" lying during the ObamaCare debate, Benghazi, Ed Snowden's expose', Fast & Furious, Lois Lerner, rogue agents and Jobs! Jobs! Jobs! saved or created with Pelosi's Funemployment.

Suck it bitch.

Zorba's idea's picture

When and if the motherfucker decides to show us his tax returns I could care less. Like most folks that have earned some sweat equity in the private market, its none of your fucking business..constitutionally speaking. 

 

DRTexas's picture

Trump was not a public servant until Jan. 20, 2017.  I'm sure his returns will be public record for the next 8 years.  Happy now?

Clinteastwood's picture

Trump works for you as a true "public servant" for..........wait for it.......

FOR NOTHING, NADA, ZIP. HE TAKES NOTHING FROM THE TREASURY IN SALARY, YOU DOUGH-HEAD.

Now that's true servitude.

Know what MOAR you deserve?

ZIP, ZERO NADA........

(Not even the time of day).......

And certainly not his tax returns.

You don't deserve any MOAR.

Doom Porn Star's picture

"Know what MOAR you deserve?

ZIP, ZERO NADA........

(Not even the time of day).......

And certainly not his tax returns. 

You don't deserve any MOAR. "

 

Seconded.

Scuba Steve's picture

Like a wiseman once said:

"And then what?"

swamp's picture

Tell us about your hero Buttboy Barry and his endless list of lies

Tiwin's picture

Oh , like when Obama said he would close Guantanamo and end the mideast wars? Lies like that?

Grimaldus's picture

Wow man the "progressive stupid" stink is all over that one. Kind of a "self-outing" experience eh? LOL!

 

 

 

 

 

 

Grimaldus

Stinkytofu's picture

1.  public servants are not required to release tax forms, regardless of whom they work for.

2.  is the audit compete?  if so, prove it.

3.  don't assume "after" necessarily implies immediately upon completion, rather than a

simple statement relative time?  haha, i suppose it depends on the meaning of "after."

absente reo's picture

Trust your IRS?

LOL. Those on the American right don't trust ANY agency of the US government. But suddenly now they trust the lowly paid IRS public servants to do a competent and good job wrt detecting and stamping out complex and aggressive tax avoidance and tax evasion by the super rich with enough money to buy the most expensive, creative and devious tax accountants alive and for hire in the world today?

 

Is this a joke?  Welcome to Bizzaro World.

hannah's picture

'what is the real picture'....the real picture is that trump paid hundreds of millions in taxes. see i dont know if he did but i cantstate that just like you imply that there is 'a real story out there'. you are a loser zero-ledge

Chris Dakota's picture
Chris Dakota (not verified) hannah Mar 14, 2017 10:28 PM

Hey Bernie...13.5% tax rate.

When are YOU going to pay your fare share?

have you repaid your student loans yet?

SheHunter's picture

Ssshhh...don't bother him.  He's got that new lakeside mansion Billary bought for him to worry about furnishing.

Zero_Ledge's picture

You apparently can't do basic math.  $38 million is not "hundreds of millions."  Maybe you are assuming he paid taxes in other years?  I guess we'll never fucking know.

Always the ad hominem attacks ("loser") for those who dare to ask questions, eh?  What does that make you?

Cangaroo.TNT's picture

Here's a great reason not to release them: Play up the issue to make your political enemies look stupid when they reveal them to show...Oops... He wasn't lying and he did pay taxes.  If he had released them like he said he would, it would be a dead issue and Rachel Maddow would not be looking quite so incompetent right now.  He's a masterful manipulator of the press.  Love him or hate him, you have to give him that.