Trump pays 38 mln dollars in income taxes in 2005: White House

WASHINGTON, March 15 (NsNewsWire) — U.S. President Donald Trump reported more than 150 million U.S. dollars in income in 2005 and 38 million dollars paid in income taxes that year, according to a statement released Tuesday night by the White House.

The White House released some details of Donald Trump’s tax return hours ahead of an anticipated news report, as the American cable and satellite television network MSNBC host Rachel Maddow said she has obtained part of Trump’s 2005 tax forms and prepared to discuss the document on her Tuesday night show, reports Xinhua.

“Before being elected President, Mr. Trump was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required,” the White House said.

“That being said, Mr. Trump paid 38 million dollars even after taking into account large scale depreciation for construction, on an income of more than 150 million dollars, as well as paying 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,” said the White House.

The 2005 tax rate for top earners in the United States was 35 percent, and the 38-million-dollar taxes paid by Trump made up about 25.3 percent, according to a CBS report.

Responding to the MSNBC host’s announcement, the White House slapped that “it is totally illegal to steal and publish tax returns.”

“You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago,” said White House.

On the 2016 presidential campaign trial, the New York billionaire promised to release his tax returns after audit.