Tax returns thread: Who's most like you and I?

nitro

nitro

Rubio's Tax Returns: Few Details, $2.3 Million in 5 Years

"Florida Senator Marco Rubio and his wife, Jeanette, reported $2.3 million in income over the past five years and paid $526,092 in federal income taxes, according to taxdocuments released by the presidential candidate’s campaign Saturday.

In a release designed to prompt GOP front-runner Donald Trump to respond, Rubio’s campaign released five years of documents -- though it provided only partial returns, omitting the detailed schedules that would bring transparency into the couple’s income, charitable giving and tax strategies.

“The gross numbers without the schedules don’t tell you anything,” said Martin Shenkman, a tax lawyer and certified public accountant in Fort Lee, New Jersey.


Rubio’s campaign didn’t respond immediately to a request for comment.

The records -- which amount to the first two pages of each annual tax filing the Rubios made from 2010 through 2014 -- show that they paid federal income taxes at the rate of about 23 percent. Coupled with prior returns from 2000 through 2009, which Rubio released when he ran for the U.S. Senate in Florida, the documents raise questions, Shenkman said.

“He’s attacking Trump on the same disclosure issues, but his own disclosures are obfuscatory,” Shenkman said.

Rubio released his tax information three days after 2012 Republican presidential nominee Mitt Romney called for the GOP candidates to show their tax information to voters.

Among the documents that weren’t disclosed: Schedule C, which would have revealed how much of the Rubios’ income resulted from business interests, and Schedule E, which would show their income from rental real estate, royalties, partnerships, S corporations and trusts...."

http://www.bloomberg.com/politics/a...ax-returns-few-details-2-3-million-in-5-years
 
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Cruz's Tax Returns: Few Details, $5 Million for 2011-14

"Senator Ted Cruz and his wife, Heidi, paid $1.5 million in federal income taxes from 2011 through 2014 on adjusted gross income totaling more than $5 million, according to partial tax returns released in e-mails to reporters by the Republican presidential candidate’s campaign Saturday.

The couple’s average federal tax rate over the four-year period was 29.9 percent. But because the releases didn’t include schedules that would detail their sources of income or the deductions they claimed, the returns provide comparatively scant information.

For example, it’s not clear how much of the income can be attributed to Heidi Cruz, who works as an investment manager for Goldman Sachs Group Inc. in Houston. The bank has said she’s taking an unpaid leave of absence during her husband’s presidential campaign. The salary for a U.S. senator is $174,000 a year. Also unclear from the disclosures: the couple’s contributions to charity.


The Cruz campaign didn’t immediately respond to a request for comment..."

http://www.bloomberg.com/politics/a...turn-few-details-5-million-income-for-2011-14
 
On tax returns, Sanders and wife report $200,000 in income — mostly from his Senate post

"Sen. Bernie Sanders (I-Vt.), who rails against the “billionaire class” on the presidential campaign trail, reported relatively modest income last year: just more than $200,000 on a tax return filed jointly with his wife.

The vast majority of the couple’s income came from Sanders’s $174,000 Senate salary and Social Security benefits that both he and his wife, Jane, a former college president, receive.

Sanders, who has been rising in the polls in his bid for the Democratic nomination against Hillary Rodham Clinton, voluntarily released the first few pages of his 2014 federal and Vermont tax returns Tuesday at the request of The Washington Post..."

https://www.washingtonpost.com/news...200000-in-income-mostly-from-his-senate-post/
 
Hillary Clinton Releases 8 Years Of Tax Returns

"Democratic presidential hopeful Hillary Clinton released eight years worth of tax returns Friday, showing that she and her husband Bill Clinton earned $139 million since 2007. They paid nearly $44 million in federal taxes during that period. The couple's effective federal tax rate ranged from 25 percent in 2007 to 36 percent last year.

The Clintons paid another 7 to 12 percent of their income in state income taxes each year, and gave between 8 and 15 percent to charity.

Much of the couple's income came from giving paid speeches.

clintons-adjusted-gross-income-millions-_chartbuilder_custom-c099ea693d6192b78d200e1acbc648a54c7cdb55-s400-c85.png


HillaryClinton.com
"We've come a long way from my days going door-to-door for the Children's Defense Fund and earning $16,450 as a young law professor in Arkansas," Hillary Clinton said. "And we owe it to the opportunities America provides."

The couple had earlier released tax returns dating back to 1977..."

http://www.npr.org/sections/itsallp...e-8-years-of-tax-returns-weve-come-a-long-way
 
nitro said:
Hillary Clinton Releases 8 Years Of Tax Returns

"Democratic presidential hopeful Hillary Clinton released eight years worth of tax returns Friday, showing that she and her husband Bill Clinton earned $139 million since 2007. They paid nearly $44 million in federal taxes during that period. The couple's effective federal tax rate ranged from 25 percent in 2007 to 36 percent last year.

The Clintons paid another 7 to 12 percent of their income in state income taxes each year, and gave between 8 and 15 percent to charity.

Much of the couple's income came from giving paid speeches.

clintons-adjusted-gross-income-millions-_chartbuilder_custom-c099ea693d6192b78d200e1acbc648a54c7cdb55-s400-c85.png


HillaryClinton.com
"We've come a long way from my days going door-to-door for the Children's Defense Fund and earning $16,450 as a young law professor in Arkansas," Hillary Clinton said. "And we owe it to the opportunities America provides."

The couple had earlier released tax returns dating back to 1977..."

http://www.npr.org/sections/itsallp...e-8-years-of-tax-returns-weve-come-a-long-way
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true, but she had a lot of catching up to do. Even though they lived 8 years rent free with all expenses paid for and a small Presidential salary, they were dead broke when they left the Whitehouse (due to mortgages on their homes.)
 
Of all the possible issues in a presidential campaign, tax returns should be at the bottom of the list. In fact, I would be happy if candidates didn't publish their returns. As the article noted, they hide more than they reveal. Take Harry Reid, who became extremely rich as a senator. Made some prescient real estate deals I believe.

The Clintons carved out a nice career in public speaking after leaving the WH broke. Is this a great country or what?

What I would require is that all candidates returns be audited by the IRS, not just the republicans as is the case now.
 
from your article.

"But late Tuesday, New York City's Department of Finance said that it believes Trump received the tax benefit in error. "
 
Max E. Pad said:
from your article.

"But late Tuesday, New York City's Department of Finance said that it believes Trump received the tax benefit in error. "
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We need to see tax returns - every other rep on the ticket has done so. And we need to see what the Hilary speeches to Wall Street said.
 
nitro said:
We need to see tax returns - every other rep on the ticket has done so. And we need to see what the Hilary speeches to Wall Street said.
More...


Yeah i agree, and i hope he releases them, but its silly to think he made less than only 500k a year, i think NBC alone was paying him like 100 million.
 
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