The tax returns for both Democrat presidential hopefuls, Senator Bernie Sanders and Former Secretary of State Hillary Clinton, are finally public now that Senator Sanders has released his 2014 returns.
Senator Sanders’ return shows he earned an adjusted gross income of $205,271 and paid $27,653 in federal taxes – for a 13.5% effective tax rate.
Sanders wife, Jane, files the couple’s federal income taxes. She provided paperwork citing $56,377 in deductions comprised of $24,509 in state and local income taxes and property taxes, $22,946 in home mortgage interest and $8,350 in charitable contributions.
Senator Sanders’ salary of $174,000 comprised the bulk of their income, which was supplement by $46,213 in Social Security benefits – $39,281 of which was taxable, and $4,982 in taxable pension income for Senator Sander for having been mayor of Burlington, Vermont. Jane claimed $4,900 in business income as a member of a commission on management of low-level radioactive waste disposal.
Hillary Clinton has had several years of returns posted on her website. The Clinton’s 2014 return reported $27.0 million in adjusted gross income, over 130 times more than that reported by Senator Sanders. The Clintons paid around $10 million – about 36% – in federal taxes for 2014.
Sanders said their 2015 returns would be released as soon as it’s ready.
On the Republican side, Texas Senator Ted Cruz and Ohio Governor John Kasich have both posted several years of partial returns online. Front-runner Donald Trump has not released his tax information, claiming he can’t because he is being audited.
Join the discussion in the chat room
[flyzoo-embed-chatroom id=’571258654fb4d51448e79560′ width=’auto’ height=’640px’]