Published: Sun, August 14, 2016
Economy | By Melissa Porter

Hillary Clinton, Tim Kaine Release Tax Returns To Pressure Donald Trump

Clinton's running mate, Virginia Senator Tim Kaine, and his wife also released their 2015 tax return Friday. The Clintons paid $43.9 million in federal taxes over those years - an average tax rate that works out to 31.6 percent.

The Clinton campaign's release gave them another opportunity to jab Trump for his refusal to release his own tax returns.

The statements covered the years 2007 to 2014, which showed the income the Clintons had brought in since her original run for the White House, through her years as President Obama's secretary of state.

"In stark contrast, Donald Trump is hiding behind fake excuses and backtracking on his previous promises to release his tax returns", Palmieri added.

"Your move", Clinton campaign aide Ian Sams said on Twitter, linking to the Democratic nominee's returns. Clinton has pounced on this in the past, suggesting that Trump is not trustworthy - a criticism that many on the right have level against her.

"You can recover the cost of the building over time, even though they typically appreciate in value", said Steve Rosenthal, a tax lawyer and senior fellow at the Tax Policy Center.

Since then, the campaign doubled down on that position, saying in late July that Trump wouldn't release his returns until after Election Day.

The release on Friday is part of an effort to undercut Trump's character by questioning the celebrity businessman's record. Though the public does not know what's in the controversial speeches, they do know how much she was paid for them.

But aside from their earnings, the latest showing by the Democratic candidates was meant to put a spotlight on Trump's failure to release his returns.

Federal tax rates have become an issue in the presidential election.

Clinton has been highly critical of Trump for his failure to disclose personal financial information, hinting it is because he does not pay a very high percentage of his income in taxes and that he may not be as wealthy as he says he is.

For three other years - 1978, 1979 and 1984 - records show Trump paid no income taxes. Buffet said that he too was under IRS audit and Trump is "afraid" not of the tax-collection agency but of voters.

But the billionaire Trump has declined to release his, arguing that his tax returns for the past several years are being audited. They paid 3.6 million USA dollars in federal income tax, according to the document, which was posted on her campaign website.

The Clintons have raked in $153 million in speaking fees since President Clinton left office, according to CNN.

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