Uncovering What Could Be in Donald Trump's Tax Returns
June 16, 2016•7 min
As of Friday morning, Donald Trump has still not released his tax returns.
Though it's not required by law, there's been a longstanding tradition of tax transparency by presidential candidates that goes back to Watergate spurred by Spiro Agnew's resignation as Vice President to Richard Nixon in 1973 after being indicted for tax evasion. Nixon was also investigated for tax evasion but resigned before any charges could be brought.
Reports have found Trump has received property tax breaks in New York meant for couples who make less than $500,000 a year. The Washington Post and the Daily Beast have found records that show the real estate mogul did not pay federal income taxes more than once because of a tax-code provision that allowed him to declare no income. Other than that, reporters are struggling to determine Trump's exact income and net worth.
And that's pretty much as far as the information goes. Voters are therefore left to wonder just how much Trump is actually worth, and whether he's paying his fair share in taxes.
This week on Money Talking, host Charlie Herman talks with Shawn Tully, editor-at-large at Fortune, and Aaron Elstein, senior reporter for Crain's New York Business about what Trump's tax returns could tell us about the self-proclaime billionaire's finances and why it matters for voters.