Every single president and every single Vice President has been audited by the irs every year of their time in office. And they all still routinely release their tax returns to the public every year so that excuse from trump and the Trump Campaign never made sense. Being under audit is excuse for not releasing your tax returns as a candidate or certainly as president. Also, the audit excuse never made sense for his past tax returns. Even if donald trump wanted to release nothing under current audit, well, what about years for which the audits are completed and closed . Any year of his taxes before, say, 2008, any year that was audited before then, those years presumably would be done being audited by now. Those would be closed. So why not release those earlier tax returns even if you dont want to release the current ones for which there isnt an excuse not to do anyway . Whether or not you are a supporter of donald trump in
general, whether or not you care whats in his tax returns, it o
it s long been thought that 10,000 is the magic number, but could walking 5,000 steps a day be enough to see a benefit? the white house is marking one year since president biden signed the chips for america legislation. it earmarked $52.7 million in subisdies for the semiconductor industry in the us. the commerce department started taking in applications injune for the subsidy programme for us semiconductor manufacturing and since then, more than 460 companies have expressed interest in the funding. the programme is part of the administration s bid to boost competitiveness with china s science and technology. the commerce department is also tyring to ensure that china doesn t benefit from the subsidies. adrienne elrod is director of external and government affairs in the chips for america office of the us department of commerce.
and the point of this is the top in this country, people at the top are not burdened the way we suggest. i was in let me stop you and restate some of that back to you because you re a tax expert and those of us who just pay taxes and aren t experts, i want to say back to them and see if i get it right. if there weren t the alternative minimum tax you can tell from this 1040, from his tax return in 2005, if there weren t an alternative minimum tax he d be paying what percent? it s right on line 44, he would have paid $5.3 million, which is 24% of his $152.7 million of positive income. that s in large part because he was able to say he had negative income of $103 million. so because he because there is an alternative minimum tax they disregarded most of the
i was in let me stop you and restate some of that back to you because you re a tax expert and those of us who just pay taxes and aren t experts, i want to say back to them and see if i get it right. if there weren t the alternative minimum tax you can tell from this 1040, from his tax return in 2005, if there weren t an alternative minimum tax he d be paying what percent? it s right on line 44, he would have paid $5.3 million, which is 24% of his $152.7 million of positive income. that s in large part because he was able to say he had negative income of $103 million. so because he because there is an alternative minimum tax they disregarded most of the negative income, he had to pay more in taxes but he still got a
woulhave paid $5.3 million, which is24% of his $152.7 million of positive income. that s in large part because he was able to say he had negative income of $103 million. so because he because there is an alternative minimum tax they disregarded most of the negative income, he had to pay more in taxes but he still got a benefit. you know why? because at the top people are supposed to be paying 35% that year, 39.6% this year. but if you re in the alternative minimum tax you only pay 28%. that s a 20% discount on your taxes. would you like a 20% discount on your taxes? that s what donald trump got here. so the issue that i mean i tried to lay out at the top of the show reasons why people are so interested in his tax returns. the white house has made this issue saying it s only reporters who care, people don t care, this was litigated in the election when he didn t release his tax returns and people voted