Washington: Finally the cat is out of hat. For the last more than one year, President Donald Trump had resisted the call to release his tax filings. While he would have liked the tax returns to be a secret, his tax filing details for the year 2005 have been released by a private cable network.
MSNBC actually forced the President to release his tax details when it claimed that the channel was in possession of the President’s tax returns. Following the MSNBC claim, the white House released his tax returns showing the President had paid $38 million in taxes on more than $150m of income in the year 2005.
Later, while talking to the media, MSNBC host Rachel Maddow told the world that she got hold of the tax returns of President from investigative journalist David Cay Johnston, who said on her show that he received them in the mail.
While talking about the tax returns of the former real estate baron, Maddow said, “What we have tonight has been turned over to a reporter. These are returns for one year. It’s a federal return. Nonetheless, later it transpired that it turned out she only had two pages of the returns, though, when she revealed them.
According to the documents later released to the media, Trump and his wife Melania paid $5.3m in regular federal income tax, and an additional $31m in the alternative minimum tax (AMT) – which the president wants to eliminate. “If the alternative minimum tax had not been in effect in 2005, Trump would have paid only $5m of tax on $183m of income – that tax rate is less than the tax rate paid by the poorest half of Americans” David Cay Johnston said from New York.