by JOHN CARNEY
The tax forms made public Tuesday night showed that Donald Trump paid $38 million in federal income taxes on reported income of $150 million in 2005. That would give him an effective tax rate of around 25 percent–far above the rates most very wealthy people paid in the same year.
The average effective income tax rate for all U.S. households in 2005 was just 8.8 percent, according to the Tax Policy Center. That means Trump’s tax rate was nearly triple that of the average American household.
Of course, Trump was no average tax-payer. His income put him well into the top 1 percent of earners in 2005, even after allowances for past losses. But even among top earners, the average rate was far lower than that paid by Trump.
The average effective rate for the top 1% of income earners in 2005 was 19.7 percent, several points lower than the 25% rate Trump appears to have paid, according to the Tax Policy Center. In other words, the tax return shows that Trump was one of the top tax payers back in 2005. full story
Epic Fail: Rachel Maddow Mocked After Dragging Out Trump Tax ‘Scoop’
MSNBC host Rachel Maddow was widely mocked on social media Tuesday night after drawing out the revelations in what she announced was an “exclusive story” regarding Donald Trump’s tax returns.
Instead of getting right to her big scoop about a 2005 Trump tax return she obtained, Maddow opened her show with a rambling 20-minute rant outlining her often tangential theories regarding Trump’s connections to Russia.
Maddow did not unveil the relevant tax documents until 23 minutes into the show, revealing that Donald Trump had made more than $150 million in income in 2005 and paid $38 million in income taxes that year.
In fact, Maddow took so long to get to the point, that the Trump White House scooped her:
— The Hill (@thehill) March 15, 2017
— Joel B. Pollak (@joelpollak) March 15, 2017
Social media lit up with mockery for Maddow’s rambling anti-climactic monologue. The harshest criticism came from Maddow’s own colleagues in the media:
Maddow is going to show us the tax return at 9:57, isn't she?
— Josh Dawsey (@jdawsey1) March 15, 2017
This is like watching a super hyped prize fight and the first few rounds are Zzzzzzz.
— Bob Cusack (@BobCusack) March 15, 2017