The White House on Tuesday said
President Donald Trump earned
more than $150 million in income
and paid $38 million in taxes. The White House gave the details
after US TV network MSNBC leaked
two pages of Trump’s partial tax
return. A White Official said this was after
taking into account large scale
depreciation for construction in
response to questions about the
coming publication of his 2005
return. The $38 million was in addition to
“paying tens of millions of dollars
in other taxes such as sales and
excise taxes and employment
taxes,” a White House official said. Trump during his Presidential
campaign had promised to release
his returns after he was accused of
evading tax. He was said to have used his loss of
$916 million to cancel out an
equivalent amount of taxable
income for nearly two decades. The White House has however not
disclose when exactly it would be
released. There have been reports and
suggestions from his aides that
Trump may not release his returns
since he won the election. In October, The New York Times
obtained a single year’s return
anonymously that showed that
Trump declared a $916 million loss
and lists tax benefits he used after
a turbulent financial period for him in the early 1990s.
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