Trump’s 2005 Taxes

There was a dust-up yesterday about Donald Trump’s taxes.  MSNBC’s Rachel Maddow obtained two pages of Trump’s 2005 personal tax returns, which apparently had been leaked — by someone.  The two pages show that, in 2005, Trump reported income of $150 million, paid $38 million in taxes, primarily through the alternative minimum tax, and benefited from a continuing write-off of losses that apparently date back to 1995.

48550944-cachedThe White House bemoaned the leak of the two pages of the tax returns, noting that an unauthorized leak of tax returns is a violation of federal law.  At the same time, the White House noted that the two pages show that Trump paid a big chunk of money in federal taxes — while also pointing out that he has no obligation to pay one penny more in taxes than the law requires, a position that virtually every taxpayer heartily agrees with — and added that Trump also paid “tens of millions of dollars in other taxes, such as sales and excise taxes and employment taxes, and this illegally published return proves just that.”

In addition, some Trump supporters used the two pages of the return to refute some of the things said by Trump opponents during the presidential campaign — namely, that Trump wasn’t releasing his taxes because he was a poor businessman, his business empire really wasn’t that successful, and his returns would show that he paid no taxes at all.  As a result, some people are speculating that Trump himself engineered the leak and is using the 2005 return to play the media like a Stradivarius — by releasing limited documents that appear to refute opposition talking points, while at the same time objecting to leaks in violation of federal law.

It’s a messy story, and we’ll have to see whether we learn anything further about the source of the leak.  For now, I hold to two basic points:  (1) if Trump didn’t approve the leak and somebody in the federal government (specifically, the IRS) leaked the two pages of the 2005 return to advance their own personal political agenda, that is both illegal and a grossly inappropriate intrusion into Trump’s personal information and should be opposed by anyone, regardless of their political views, who has entrusted the government with their confidential information, via tax returns or otherwise; and (2) the returns show why presidential candidates should release their returns and why, if they object to such a release, voters should insist that they do so.  The 2005 returns indicate that Trump paid millions of dollars pursuant to the alternative minimum tax — a tax that Trump has talked about abolishing.  The public deserves to know whether political positions are motivated by a politician’s own self interest.