cash that fred trump, donald trump s father, was sitting on late in life. he had these buildings worth hundreds of millions of dollars, in queens in brooklyn. he also hundreds of millions of dollars, but he also had a lot of cash and how the children late in life devised a scheme to get his empire to them without paying the 55% gift tax. that s kind of the broad things that came across, because it was the most startling, but also all through trump s life, all the streams of revenue he created in order to get money to his children over their lifetimes. do you think that we will ever see the president s personal income tax returns? i have to hope we will. i m surprised in a way that we haven t. why are you surprised? i think people there s a huge demand for them. they have gone through hopefully
and he is also the first president in history to we have reason to believe is pushing a tax cut specifically because it is good for him. it is great for him. no president before donald trump was ever vulnerable to the accusation of trying to cut taxes for his own personal benefit. when we watched president reagan and president clinton and president bush and president obama pushing tax legislation, we d already looked at their personal income tax returns which they made public. donald trump is never going to voluntarily let us see his tax returns and so whenever he tries that line about this tax cut not being good for him, he will always have to follow it with that catchphrase of his, believe me. but he will never, ever give anyone a reason to believe him
personal income tax returns which they made public. donald trump is never going to voluntarily let us see his tax returns and so whenever he tries that line about this tax cut not being good for him, he will always have to follow it with that catchphrase of his, believe me. but he will never, ever give anyone a reason to believe him about taxes. joining us now, bruce bartlett, a former deputy assistant secretary at the treasury and also with us, david k. johnson, founded d.c. report.org. a nonprofit news aings to cover the trump administration. david is former tax reporter for the new york times. and, bruce, we want to start with you because you were there at the revolution, at the tax revolution that began in republican governance during the reagan administration where there came the notion that the
down the financial gauntlet to fellow republican presidential candidates and to hillary clinton. he s releasing awn precedented amount of personal financial information and trumpeting unprecedented transparency. chief political correspondent carl cameron tells us why. reporter: gop presidential frontrunner jeb bush put down a marker on trants parentsy this afternoon. making public 33 years of personal income tax returns on jeb 2016.com. 1150 pages of returns shows an average effective tax rate of 36%. before serving as florida governor from 1985-88 he lost money and paid no federal income taxes. after serving as governor his high in 2013 was $7.3 million in taxable income 2.9 in taxes paid for a 40% effective tax race. the disclosures are an effort to cast himself as an honest forthcoming accountable leader in contrast to hillary clinton whose credibility has take an hit in the polls for evading questions and using a home
don t start humira if you have an infection. visit humira.com and talk to your rheumatologist. humira. this is a body of proof! wow, jeb bush released 33 years of his personal income tax returns. an unprecedented move in presidential politics. the returns, which were posted online include the eight years since he left office as governor. they show a sharp increase of income as he served on numerous corporate boards. as our own chuck todd reports jeb s income doesn t even put him in the top five wealthiest candidates running for president this time around.