An investigative journalist in the US has said he's obtained an insight into one of Donald Trump's tax returns from 2005.
David Cay Johnston told Rachel Maddow on MSNBC that President Trump paid 38 million dollars in federal income tax that year, an effective rate of around 25%, and reported an 105 million dollar write down.
Effectively, he said, by claiming losses from previous years, Mr Trump was able to save tens of millions in taxes he could otherwise have owed.
IN: If we didn't...
OUT: ...under 33 thousand dollars
DUR: 28 seconds
http://www.fsnradionews.com/feeds/0314johnston.mp3
Mr Johnston added that Mr. Trump and his wife made a great deal of money despite paying such low taxes:
IN: As it is...
OUT: ...dollars a day
DUR: 26 seconds
http://www.fsnradionews.com/
The White House has indicated the return is authentic, but accused MSNBC of releasing the information unlawfully.
David Cay Johnston told Rachel Maddow on MSNBC that President Trump paid 38 million dollars in federal income tax that year, an effective rate of around 25%, and reported an 105 million dollar write down.
Effectively, he said, by claiming losses from previous years, Mr Trump was able to save tens of millions in taxes he could otherwise have owed.
IN: If we didn't...
OUT: ...under 33 thousand dollars
DUR: 28 seconds
http://www.fsnradionews.com/feeds/0314johnston.mp3
Mr Johnston added that Mr. Trump and his wife made a great deal of money despite paying such low taxes:
IN: As it is...
OUT: ...dollars a day
DUR: 26 seconds
http://www.fsnradionews.com/
The White House has indicated the return is authentic, but accused MSNBC of releasing the information unlawfully.
It added that Mr Trump, as one of the most successful businessmen in the world, paid 'no more tax than legally required'.