Bernie Sanders releases 10 years of tax returns, details millionaire status


While appearing on "Fox & Friends" on Tuesday morning, Maya MacGuineas - the president of the Committee for a Responsible Federal Budget - said it was "important" to put Sanders' proposals of "free college tuition" and "free health care" in "the broader budget context of how much would this cost".

He and his wife, Jane Sanders, reported paying a 26% effective tax rate on his adjusted gross income.

The Sanders' annual income reached its highest point in 2017 when they earned $1,131,925.

But in a statement released with his tax returns, Sanders welcomed paying more in taxes as his income increased. "This clearly is not the tax return of someone who does either a lot of tax planning or complex investing".

"I guess the president watches your network a little bit, right?" For months, the Vermont senator has said he would release several years of tax information, but had continued to delay the release, raising questions about whether there was something in his financial history that would upset his supporters. "Please do the same".

Presidential candidates were required to file fundraising reports for the first quarter of 2019, which ended on March 31, by Monday. Yes, Bernie Sanders now belongs to the 1% he bashes regularly. During this time, Sanders main source of income was his $174,000 Senate salary. According to the liberal-leaning Economic Policy Institute, families in the USA earning $421,926 or more a year are part of this group. I am very grateful for that, as I grew up in a family that lived paycheque to paycheque and I know the stress of economic insecurity.

"Pfft, come on. I paid the taxes that I owe", Sanders shot back. "I will continue to fight to make our tax system more progressive so that our country has the resources to guarantee the American Dream to all people", Sanders said. By 2018, his wife, 69, was also taking Social Security, providing the couple with almost $52,000 for the year.

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"You can volunteer too", Sanders responded. The impact of his book contracts is most evident in Sanders' return for 2017, when he and his wife reported wages of US$139,549 and business income - most of it from books - of US$961,784.

Asked whether his plans bring big price tags that would drive up the national debt, the Democratic presidential contender scoffed at the suggestion, saying his plans for more taxes on the wealthy and the biggest multinational corporations would cover the costs of his ideas.

Sanders and his wife disclosed $36,300 in charitable contributions in 2017, but their return does not detail each individual contribution.

A number of Sanders' rivals for the Democratic presidential nomination - including Sens.

In the letter dated April 13 and published by the New York Times, Sanders takes aim at both CAP and ThinkProgress for alleged smears against him as well as fellow progressive Democratic candidates for 2020 Elizabeth Warren and Cory Booker, and suggests that this divisive approach to Democratic campaigning is going to damage the party's push to take the presidency from Trump.

Warren, like Harris, lands in the top tax bracket of 37%.