Politico

Trump made $150 million in 2005 and paid $38 million in federal taxes

Written by Lisa

The White House said on Tuesday that President Donald Trump earned more than $150 million in 2005 — and paid some $38 million in federal taxes.

The administration offered those details in a statement as journalist David Cay Johnston published two pages of tax information about the president, apparently from Trump’s 2005 return. The revelations were simultaneously broadcast on MSNBC’s “The Rachel Maddow Show,” which included an interview with Johnston.

“Before being elected President, Mr. Trump was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required,” The White House said in a statement. “That being said, 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.”

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