NOW LIVE: Eyewitness News

White House: Trump Paid $38 Million In Income Tax In 2005

By Jim Acosta, Kevin Liptak and Theodore Schleifer

WASHINGTON (CNN)–The White House said Tuesday President Donald Trump earned more than $150 million in income and paid $38 million in taxes even after taking into account large scale depreciation for construction in response to questions about the coming publication of his 2005 return.

The $38 million was in addition to “paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes,” a White House official said.

Journalist David Cay Johnston published the return information ahead of an appearance on MSNBC.

“You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago,” the official said Tuesday.

Trump had promised during the presidential campaign to release his returns — which every presidential nominee in modern times has made into a precedent — after the conclusion of a routine audit, but the White House has not spelled out when exactly that would be. More recently, aides have suggested that since he won the election, he would not release his returns.

Hillary Clinton and Trump’s Republican rivals during the presidential election sought to turn the returns into a campaign issue, but failed to create enough pressure to force their release.

In October, The New York Times obtained a single year’s return anonymously that showed that Trump declared a $916 million loss and lists tax benefits he used after a turbulent financial period for him in the early 1990s. The paper, citing tax experts, said Trump could have used his loss to cancel out an equivalent amount of taxable income for nearly two decades.

The-CNN-Wire & 2017 Cable News Network, Inc., a Time Warner Company. All rights reserved.

 

Comments

One Comment

  1. BLAH BLAH BLAH Well, the people voted and YOU LOST… GET OVER IT!
    We don;t give a DAM about Trump’s Tax Return.
    We do care about how the Clinton’s SOLD ACCESS and PROFITED…
    and How Chelsea’s wedding dress was PAID for by a non-profit Clinton fund.

    I predict she will go to jail at some point.. it is not over yet.

  2. Too bad MSNBC was not as INTEREST in investigating Hillary flow of CASH from the middle east or the many pay2play deals..

    You people do know the Clinton received $16.46 Million of TAX payer money… as a kickback for assisting a University to get $55 Million from the govt. Hillary University: Bill Clinton Bagged $16.46 Million from For-Profit … State Dept. pumped at least $55 million to a group run by Laureate’s University… very nice deal… WHEN WILL YOU REPORT THAT.

    Seems like that would be a BIGGER STORY to reveal and get to bottom of.. but as usual… if it is a DEMOCRAT CORRUPTION or CLINTON CORRUPTION you look the other way.

    Well, the people voted and YOU LOST… GET OVER IT!
    We don;t give a DAM about Trump’s Tax Return.
    We do care about how the Clinton’s SOLD ACCESS and PROFITED…
    and How Chelsea’s wedding dress was PAID for by a non-profit Clinton fund.

  3. Isn’t there such a thing as open records laws? Why would this be illegal? He’s just mad because he once again got caught in a lie.

Comments are closed.

More From CBS Philly

Getaway Do’s And Don’ts For Hurricane Season
Five Small Midwestern Towns To Visit Now
Videos

Watch & Listen LIVE