Clintons Release 2015 Tax Returns, Reveal $10.6 Million In Income, 34% Tax Rate

Coincidentally, on the same day that The NYTimes claims Donald Trump paid no taxes last year (though not illegally), The Clintons have chosen to release their tax records.

  • CLINTONS EARNED $10.6M ADJUSTED GROSS INCOME IN 2015
  • CLINTONS PAID AN EFFECTIVE TAX RATE OF 34.2% IN 2015, OR $3.6M
  • CLINTONS DONATED 9.8% OF ADJUSTED GROSS INCOME TO CHARITY

As AP reports, Hillary Clinton's campaign says the Democratic nominee and her husband paid a federal tax rate of 34.2 percent and donated 9.8 percent of their income to charity last year.

The Clintons are releasing their 2015 filings on Friday. Her campaign is also releasing returns from running mate Tim Kaine and his wife.

 

The campaign says the Kaines have donated 7.5 percent of their income to charity over the last decade. They paid an effective tax rate of 25.6 percent in 2015.

 

Clinton is trying to undercut the trustworthiness of rival Donald Trump. He has refused to disclose any returns, breaking tradition with all recent presidential candidates.

 

Trump says he won't release them until Internal Revenue Service completes audits of his returns.

 

The Clintons have disclosed returns for every year since 1977.

The Clintons’ prior tax returns showed that from 2007 through 2014, the couple made $139.1 million -- much of it from paid speeches. The Clintons paid $43.9 million in federal taxes over those years -- an average tax rate that works out to 31.6 percent.

Kaine and his wife, Anne Holton, paid an effective federal tax rate of 20.3 percent in 2015, according to the news release. Over the past 10 years, the couple have donated 7.5 percent of their adjusted gross income to charity, according to the release.

The full breakdown of the Clinton's tax rate since 2001 is shown below:

 

This is what Hillary Clinton's official page said:

Hillary Clinton, Tim Kaine release tax returns while Donald Trump defies decades-old tradition of disclosure

 

Today, Hillary Clinton released her 2015 personal tax return and Senator Tim Kaine and his wife, Anne Holton, released 10 years of their returns.

 

“Hillary Clinton and Tim Kaine continue to set the standard for financial transparency as she releases her 2015 personal tax return and builds on the Clintons’ tradition of making their returns public since 1977 and Kaine releases 10 years of his returns,” said Hillary for America communications director Jennifer Palmieri. “In stark contrast, Donald Trump is hiding behind fake excuses and backtracking on his previous promises to release his tax returns. He has failed to provide the public with the most basic financial information disclosed by every major candidate in the last 40 years. What is he trying to hide?”

 

In 2015, the Clintons paid an effective federal income tax rate of 34.2 percent and an effective state and local income tax rate of 9 percent for a combined federal, state, and local effective tax rate of 43.2 percent. They donated 9.8 percent of their adjusted gross income to charity.

 

Clinton’s and Kaine’s newly released returns have been added alongside the past eight years of Clinton’s personal tax returns, covering 2007–2014. This supplements the public release of the Clinton family’s tax returns from 2000–2006 during her 2008 campaign, returns from 1992–1999 disclosed annually during her husband’s tenure in the White House, and prior returns released by her husband’s presidential campaign. All told, the Clintons have made their tax returns public for every year dating back to 1977.

The campaign did not directly disclose - though the filings do - that the bulk of 2015 income came from speeches and book fees:

  • Bill Clinton received $5.2 million last year from speeches.
  • Hillary Clinton made $4.75 million in speaking and book money in 2015

So The Clintons made a shitload of money, paid their taxes patriotically, and gave plenty to charity...  But one quick question (via WSJ comments):

How much of the Clinton charity donations (10% per article) went to the Clinton Foundation? Taking a deduction for contributing to the employer of your daughter and expense payer of your husband is awesome.

Perhaps The Clinton Campaign was worried that the polls have started to turn since she laid out her economic vision, as she appears to have an odd convergence with many of Trump's own economic policies.

Of course the narrative is now set for the weekend - "what is Donald Trump hiding?" or something comparable, to which one can perhaps respond when will Hillary's Goldman transcripts, or health records be released.

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Full Returns below (pdf)