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Creative Commons House Democrats just set a precedent that will surely come back to haunt them. Using the power of the House Ways and Means Committee, they recently obtained and publicly released former President Donald Trump’s tax returns from 2015 to 2020. They did so because Trump refused to release his tax returns, like most presidential candidates do, and in hopes of somehow embarrassing or incriminating him.
It backfired spectacularly. Here’s what the returns showed , according to CNBC: Trump and his wife Melania declared negative income of $31.7 million, and taxable income of $0, on their 2015 return. They paid $641,931 in federal income taxes.
On their 2016 return, the Trumps declared negative income of $32.2 million, and again recorded $0 of taxable income. They paid $750 in taxes.
Trump and his wife declared $12.8 million in negative income in the 2017 return, with $0 in taxable income. They again paid $750 in taxes.
The 2018 return showed a rosier picture for the Trumps’ finances: they declared $24.4 million in total income, and $22.9 million in taxable income. They paid $999,466 in federal income taxes.
Trump and his wife declared $4.44 million in total income, […]
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