Millionaire Sanders Finally Releases His Tax Returns

0
122

Vermont Independent Senator and 2020 Democratic presidential candidate Bernie Sanders released 10 years of his tax returns on Monday as part of his 2020 presidential campaign.

The release of his returns came on the the deadline for taxpayers to file their 2018 returns.

The returns show that the adjusted gross income for Sanders and his wife, Jane, in 2018 was $561,293 and that they paid a 26 percent effective tax rate. 

The returns show earnings of more than $1 million over the last two years, reflecting Sanders’s recent acknowledgement that sales of his book have made him a millionaire.

In 2017, Sanders and his wife had adjusted gross income of $1,131,925 and an effective tax rate of 30.4 percent. In 2016, they had adjusted gross income $1,062,626 and an effective tax rate of 35 percent.

“These tax returns show that our family has been fortunate. I am very grateful for that, as I grew up in a family that lived paycheck to paycheck and I know the stress of economic insecurity,” Sanders said in a statement. “That is why I strive every day to ensure every American has the basic necessities of life, including a livable wage, decent housing, health care and retirement security.”

“I consider paying more in taxes as my income rose to be both an obligation and an investment in our country. 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 added.

Sanders and his wife reported $18,950 in charitable contributions on their 2018 return. Sanders’s campaign said that proceeds from one of the senator’s books are also donated directly to charity, and Sanders and his wife don’t claim a deduction for those donations.

LEAVE A REPLY

Please enter your comment!
Please enter your name here