In a challenge to Trump, Hillary has released her tax returns. By doing so, she has also debunked her claim that her and Bill really aren’t that well off. The Clintons have made their millions through foreign nations and speaking engagements. Check out this AD she has been trying to shut down, exposing exactly how their millions have been made.
Your move, Mr. Trump.
After hammering Donald Trump on the campaign trail for refusing to reveal his tax returns, Hillary Clinton released her latest federal income tax return Friday, showing she and Bill paid roughly a third of their multi-million dollar income to Uncle Sam.
The Clintons pulled in $10.6 million in 2015, much less than the nearly $28 million they made the year before.
Their tax return showed that they paid $3.24 million in federal income taxes.
That means their effective tax rate — a measure of their income tax burden — was 30.6% based on their adjusted gross income. That’s on par with their 32% effective rate in 2014.
The campaign reported the Clintons’ effective tax rate as 34%, but it appears they included the more than $300,000 the couple payed in self-employment taxes, which are payroll taxes for Social Security and Medicare. Experts often don’t include them when calculating federal income tax burdens.
By any measure, Hillary Clinton and her husband have satisfied the Buffett Rule that she’d like to impose if elected. Under that rule, anyone with adjusted gross income over $1 million would have to pay a minimum of 30% of their income in taxes.
Et tu, Trump?
Her opponent Donald Trump has yet to release any tax returns, a fact she brings up regularly.
Trump says he’s not releasing them because he’s under audit and said he would when the audit is complete. In fact, there is nothing preventing him from doing so during an audit.
By not releasing them during the campaign, he is breaking with a 40-year bipartisan tradition of transparency expected of presidential nominees.
The Clintons are the wealthiest living family to leave the White House, but Hillary Clinton said in an interview released over the weekend that she doesn’t think her wealth will turn Americans against her if she runs for president in 2016.
The former secretary of state was critized earlier this month for saying she and husband Bill Clinton were ‘dead broke’ when they left the White House in 2001 – despite making $12 million that year.
And since leaving the Obama administration, Clinton has charged $200,000 on average for paid speeches.
However, she told the Guardian on Saturday that she doesn’t find her income level problematic because she and Bill pay ‘ordinary’ taxes.
‘They don’t see me as part of the problem because we pay ordinary income tax, unlike a lot of people who are truly well off – not to name names,’ Clinton said.
‘And we’ve done it through dint of hard work.’
America Rising PAC Executive Director Tim Miller mocked Clinton’s statement in an email to reporters over the weekend.
‘If Hillary is going to run for President she might be advised to take a lengthy sabbatical from her $200k per pop speaking tour and private shopping sprees at Bergdorfs to try and reconnect with what’s happening back here on Earth,’ the GOP operative said.
The Clintons have made an estimated $155 million since leaving the White House in 2001, according to financial disclosure statements, which makes them the wealthiest former first family in America.