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Trump’s tax returns show he paid less than 4 percent tax rate plus AMT in 2005: report

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According to tax documents “slipped over the transom” to financial journalist David Cay Johnston, President Donald Trump paid less than 4 percent federal tax rate in 2005 in addition to an alternative minimum tax (AMT) of $31 million.

The documents, posted on Johnson’s website — which crashed as MSNBC host Rachel Maddow went live with the info — show that Trump earned more than $150 million in 2005.

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The New York businessman also benefited from a $916 million loss he declared in 1995, reports the Daily Beast.

In a statement prior to the Maddow show, the White House preemptively admitted the documents were accurate.

“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,” the White House statement read.

The White House also accused MSNBC of breaking the law — which was disputed by financial journalist Johnston.

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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Trump goes into full attack against another American company — Ford motors

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President Donald Trump went off on another Twitter rant Wednesday, taking aim at another American company.

"Henry Ford would be very disappointed if he saw his modern-day descendants wanting to build a much more expensive car, that is far less safe and doesn’t work as well, because execs don’t want to fight California regulators. Car companies should know that when this Administration’s alternative is no longer available, California will squeeze them to a point of business ruin. Only reason California is now talking to them is because the Feds are giving a far better alternative, which is much better for consumers!" Trump tweeted.

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Rudy Giuliani sneaked off to meet Ukrainian officials in Madrid about Biden conspiracy theories: report

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On Wednesday, The New York Times reported that President Donald Trump's lawyer Rudy Giuliani secretly traveled to Madrid in recent weeks to meet with a top aide of new Ukrainian President Volodymyr Zelensky to go fishing for dirt on Democrats.

One of the key focuses of Giuliani's phone calls and in-person meetings was to try to dig up evidence that former Vice President Joe Biden acted improperly to remove a Ukrainian prosecutor investigating an energy company his son was invested in — which has been broadly discredited as conspiracy theories. He also tried to hunt for proof that Ukrainian officials colluded with Democrats to hurt Trump's campaign in 2016, a claim which is not supported by evidence.

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At least eight prison officials knew Epstein wasn’t supposed to be left alone — but they did it anyway: report

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On Wednesday, the Washington Post reported that at least eight staffers at the Bureau of Prisons were aware that arrested hedge fund manager Jeffrey Epstein could be a risk to himself if left unsupervised — raising further questions about why exactly guards left him to his own devices on the night that he allegedly hanged himself.

Investigators reportedly believe that at least some of these officials were aware that he had been left alone. It is unclear why nobody intervened, and the Justice Department is continuing with its investigation. Attorney General William Barr recently ordered the removal of the acting director of the Bureau of Prisons.

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