Clintons earned $10.75 million in 2015,
paid 34.2 percent federal tax rate
Send a link to a friend
[August 13, 2016]
By Amanda Becker and Susan Heavey
WASHINGTON (Reuters) - Hillary Clinton on
Friday released her 2015 tax returns, which showed the Democratic
presidential nominee and her husband had $10.75 million in income that
year and paid an effective federal tax rate of 34.2 percent.
In 2015, the Clintons made $1 million in charitable contributions,
mostly to the Clinton Foundation; former President Bill Clinton brought
in nearly $5.3 million in speaking fees; and the former secretary of
state reported income of $3 million from publisher Simon & Schuster for
her book on her tenure at the State Department.
Clinton's running mate, U.S. Senator Tim Kaine of Virginia, along with
his wife, Anne Holton, released 10 years of tax returns. They paid an
effective federal tax rate of 20.3 percent in 2015.
"Hillary Clinton and Tim Kaine continue to set the standard for
financial transparency," Clinton campaign aide Jennifer Palmieri said in
a statement. "In stark contrast, Donald Trump is hiding behind fake
excuses and backtracking on his previous promises to release his tax
returns."
It is customary for U.S. presidential candidates to make their tax
returns public, although they are not required by law to do so.
Clinton's tax returns have been made public, in some form, every year
since 1977.

Trump, a New York businessman, and his lawyers have cited an audit by
the Internal Revenue Service as a reason for his refusal to release his
returns. Trump also has said his taxes are no one's business and that
they reveal little.
"Your move," Clinton campaign aide Ian Sams said on Twitter, linking to
the Democratic nominee's returns.
The Trump campaign dismissed Clinton's action, saying in a statement:
"This document release is nothing more than an attempt at distraction
and misdirection" from controversy about her use of a private email
server when she was secretary of state.
The IRS has said Trump can release his tax returns even while under
audit.
On Thursday, Trump’s special counsel, Michael Cohen, told CNN he would
not allow Trump to release them until the audits are complete.
RETURNS SHOW BUSINESS TIES
Trump's critics, including 2012 Republican presidential candidate Mitt
Romney and other fellow Republicans, have said his refusal raises
questions about his net worth, his charitable contributions, his
business dealings and various other ties, including with Russia.

[to top of second column] |

Democratic presidential nominee Hillary Clinton speaks at Futuramic
Tool & Engineering in Warren, Michigan August 11, 2016.
REUTERS/Chris Keane

Clinton has pounced on the issue, releasing an online video on Friday
highlighting high-profile Republicans urging Trump to release his taxes.
On Thursday, she raised the issue during an economic speech in Michigan.
"He refuses to do what every other presidential candidate in decades
has done and release his tax returns," she told the crowd.
Politico has reported that Trump paid zero to very little taxes for
two years in the 1990s, and a New York Times business columnist on
Friday quoted a number of tax lawyers and accountants saying that
could still be the case.
Federal tax rates have become an issue in the presidential election.
Clinton has endorsed a rule named after billionaire investor Warren
Buffett that would ensure those making more than $1 million a year
pay a tax rate of at least 30 percent. President Barack Obama also
backs the proposal.
At a Clinton rally last week in Omaha, Nebraska, Buffett, whose
Berkshire Hathaway <BRKa.N> conglomerate is based there, challenged
Trump to meet and exchange tax returns. Buffet said that he too was
under IRS audit and Trump is "afraid" not of the tax-collection
agency but of voters.
Clinton's campaign has released tax returns going back to 2007. The
Clintons, who now live in Chappaqua, New York, paid an average
effective federal tax rate of about 32 percent from 2007 to 2014 and
an effective combined tax rate of approximately 40.5 percent.
The Clintons' 2015 return showed that, unlike most Americans, just
$100 of their income came from wages. Their main investment was a
low-cost index mutual fund, and the Clintons reported dividend and
interest income of $109,000.
(Additional reporting by Kevin Drawbaugh; Editing by Jonathan Oatis)
[© 2016 Thomson Reuters. All rights
reserved.]
Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |