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

By John Whitesides

 

FILE PHOTO: Democratic U.S. presidential candidate U.S. Sen. Bernie Sanders (I-VT) speaks at a news conference on Capitol Hill in Washington, U.S., April 10, 2019. REUTERS/Aaron P. Bernstein/File Photo

 

WASHINGTON (Reuters) - U.S. Democratic presidential contender Bernie Sanders released 10 years of tax returns on Monday, providing details of his growing status as a millionaire fuelled by a sharp jump in income from book royalties since his losing 2016 White House run.

 

Sanders, a U.S. senator who routinely rails against the "millionaires and billionaires" he says have rigged the system to protect their wealth and power, had an adjusted gross income of $561,293 in 2018, $1,131,925 in 2017 and $1,062,626 in 2016, the returns showed.

 

Sanders augmented his Senate salary with book royalties in each of those years, particularly in 2016 and 2017 when he made more than $800,000 each year in royalties. Sanders has published three books since the start of his first White House run, including bestsellers "Our Revolution" and "Where We Go From Here."

 

In 2009, the first year of returns Sanders released on Monday, he had an adjusted gross income of $314,742.

 

Sanders had faced mounting pressure to release his taxes, with critics saying the democratic socialist's millionaire status undercut his populist economic message. He made no apologies for his financial well-being, telling the New York Times recently that "if you write a best-selling book, you can be a millionaire, too."

 

On Monday, Sanders took a more measured tone in releasing his returns, making reference to his upbringing in a Brooklyn family of limited financial resources.

 

"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 accompanying the returns.

 

'TRANSPARENCY'

The interest in presidential contenders and their taxes has jumped since Republican President Donald Trump shattered decades of tradition during the 2016 campaign by refusing to release his returns - a stance he has continued since entering the White House.

 

Several in the growing field of Democratic 2020 contenders, including Senators Kirsten Gillibrand, Amy Klobuchar, Kamala Harris and Elizabeth Warren, and Governor Jay Inslee of Washington, have released their 2018 returns in recent weeks. Most other Democratic contenders have pledged to do the same soon.

 

But the question had become more pressing for Sanders, who only released one year of returns during his 2016 campaign, as he moved into a strong early position in polls and fundraising among Democrats seeking the 2020 nomination to challenge Trump.

 

"As a strong proponent of transparency, the senator hopes President Trump and all Democratic primary candidates will disclose their tax returns," Sanders campaign manager Faiz Shakir said in a statement.

 

Sanders faced criticism for only releasing his 2014 returns during his 2016 Democratic primary battle with Hillary Clinton, a millionaire whom he often derided for giving paid speeches to Wall Street.

 

The tax returns released on Monday showed Sanders paid a 26 percent effective tax rate on his adjusted gross income in 2018. His effective tax rates in 2016 and 2017, his other high-earning years, were 35 percent and 30 percent, respectively.

 

As part of his policy agenda, Sanders has proposed a big expansion of the estate tax, lowering the threshold where it kicks in to $3.5 million from $11 million, and placing a 77 percent tax rate on the portion of estates worth more than $1 billion.

 

(Reporting by John Whitesides; Editing by Peter Cooney)

 

 

-- © Copyright Reuters 2019-04-16

I'd really like Bernie if he weren't a politician. He really seems down to earth in many ways, but.......he's a politician. 

Nothing like cashing in on failure. On the face of it though and in the big scheme of things, he looks as if hasn't done much wrong. Capitalism at work. 

It's OK if he makes himself a millionaire through his own efforts but anyone else doing it is someone to be reviled at his rallies. Typical Liberal hypocrite. Watch - he used to rail against "millionaires and billionaires" - from no on it will be against "multi millionaires and billionaires"

 

Funny how the tax thresholds he proposes are above his income level = I imagine he will raise that when his wealth reaches that level - it is others who must pay, not him.

Edited April 16, 20197 yr by mokwit

You go Bernie good for you!!

1 hour ago, mokwit said:

It's OK if he makes himself a millionaire through his own efforts but anyone else doing it is someone to be reviled at his rallies. Typical Liberal hypocrite. Watch - he used to rail against "millionaires and billionaires" - from no on it will be against "multi millionaires and billionaires"

 

Funny how the tax thresholds he proposes are above his income level = I imagine he will raise that when his wealth reaches that level - it is others who must pay, not him.

Well, if he's against millionaires and billionaires who got there by their own efforts I guess that rules out Trump who got there by means of Daddy.

And it's so bizarre that a supporter of Trump, under whom a tax bill passed that singled out for special favoritism the real estate industry, would be criticizing Sanders on account of his proposed tax legislation. 

 

1 hour ago, mokwit said:

It's OK if he makes himself a millionaire through his own efforts but anyone else doing it is someone to be reviled at his rallies. Typical Liberal hypocrite. Watch - he used to rail against "millionaires and billionaires" - from no on it will be against "multi millionaires and billionaires"

 

Funny how the tax thresholds he proposes are above his income level = I imagine he will raise that when his wealth reaches that level - it is others who must pay, not him.

You'd make a good point if he dodged taxes on the income he claimed. I don't think he did.  I don't think he has a problem with millionaires of even billionaires or even wildly successful corporations. Just those who are wildly successful and don't pay their fair share, of which there are many.

1 hour ago, bristolboy said:

Well, if he's against millionaires and billionaires who got there by their own efforts I guess that rules out Trump who got there by means of Daddy.

And it's so bizarre that a supporter of Trump, under whom a tax bill passed that singled out for special favoritism the real estate industry, would be criticizing Sanders on account of his proposed tax legislation. 

Where have I shown support for Trump? Seems you have got me 'boxed and labelled'. presumably if I don't support hypocrites who style themselves progressives I must be a Trump supporter and if I am a Trump supporter then presumably by extension I am a fully paid up KKK member and cager of children etc.

 

The joke about Trump is that he inherited $100m and turned it into $100m - the reason he won't release his tax returns IMO is that he is worth nowhere near what he insinuates he is worth.

 

You have an issue with inherited wealth, what is your opinion on MP's fixing up their children with safe seats in Parliament  (i.e. GOVERNMENT) via the party mechanism - Benn, Vaz, Kinnock amongst others. Pure nepotism.

Edited April 16, 20197 yr by mokwit

And whats about dodgie Trump? 

22 minutes ago, mokwit said:

Where have I shown support for Trump? Seems you have got me 'boxed and labelled'. presumably if I don't support hypocrites who style themselves progressives I must be a Trump supporter and if I am a Trump supporter then presumably by extension I am a fully paid up KKK member and cager of children etc.

 

The joke about Trump is that he inherited $100m and turned it into $100m - the reason he won't release his tax returns IMO is that he is worth nowhere near what he insinuates he is worth.

 

You have an issue with inherited wealth, what is your opinion on MP's fixing up their children with safe seats in Parliament  (i.e. GOVERNMENT) via the party mechanism - Benn, Vaz, Kinnock amongst others. Pure nepotism.

Every comment of yours that I have seen, supports the policies that he supports. So it seems immaterial whether or not you personally like Trump. And when you make false statements like this about Sanders

"It's OK if he makes himself a millionaire through his own efforts but anyone else doing it is someone to be reviled at his rallies.", it only reinforces the unimportance of the distinction.

He writes a book, pays his taxes, banks some money. I don't see what the big deal is. Also being a millionaire sure isn't what it used to be. 

45 minutes ago, mokwit said:

Where have I shown support for Trump? Seems you have got me 'boxed and labelled'. presumably if I don't support hypocrites who style themselves progressives I must be a Trump supporter and if I am a Trump supporter then presumably by extension I am a fully paid up KKK member and cager of children etc.

 

The joke about Trump is that he inherited $100m and turned it into $100m - the reason he won't release his tax returns IMO is that he is worth nowhere near what he insinuates he is worth.

 

You have an issue with inherited wealth, what is your opinion on MP's fixing up their children with safe seats in Parliament  (i.e. GOVERNMENT) via the party mechanism - Benn, Vaz, Kinnock amongst others. Pure nepotism.

You seem to be flipping between two different nations.

 

To the best of my knowledge Bernie Sanders has never stood for election to Parliament or set anyone up in a ‘safe seat’.

18 minutes ago, bristolboy said:

This is exactly the kind of ridiculously edited video that only a right wing fanatic would find dispositive. I stopped after watching half of it but it didn't even feature one complete sentence from Sanders.

Granted he may have gone on to qualify his statements, but he is saying it. I thought this edited video would make my point better than posting every single speech that it is drawn from. If this is a tactic or the right it is one they learned from the left. He is CLEARLY RAILING AGAINST MILLIONAIRES AND BILLIONAIRES as per my statement. That is a FACT. I know you don't like facts unless you are accusing others of not providing them, but it is a fact. Once again when shown to be WRONG or unable to answer you resort to calling people right wing to shut down any further humiliation for yourself.

Edited April 16, 20197 yr by mokwit

He just wants wealthy people to pay more taxes.  Duh!

 

 

Yep Bernie Sanders is the real problem:

 

 

1 hour ago, Chomper Higgot said:

You seem to be flipping between two different nations.

 

To the best of my knowledge Bernie Sanders has never stood for election to Parliament or set anyone up in a ‘safe seat’.

I am assuming that someone calling himself Bristolboy is British. 

2 hours ago, Ulic said:

He writes a book, pays his taxes, banks some money. I don't see what the big deal is. Also being a millionaire sure isn't what it used to be. 

There is no big deal. This is the nothing-est of nothing burgers. Bernie fans don't care one bit if he legitimately makes any amount of money, as long as legal, and he pays taxes on it.

 

On the other hand, there are things to question about the Sander's candidacy and also parts of his character. As we know so well looking at the current disgraceful embarrassing Twitter troll wreck in the white house, character does matter. Personally I've never been very enthused about him but he does need to be taken seriously. He's currently leading in the polls for the democratic nomination. 

 

Quote

Sanders proves his critics right: Thin skin, sharp elbows and not a team player

 

http://www.washingtonpost.com/opinions/2019/04/15/sanders-proves-his-critics-right-thin-skin-sharp-elbows-not-team-player/

Edited April 16, 20197 yr by Jingthing

Just now, mokwit said:

Granted he may have gone on to qualify his statements, but he is saying it. I thought this edited video would make my point better than posting every single speech that it is drawn from. If this is a tactic or the right it is one they learned from the left. He is CLEARLY RAILING AGAINST MILLIONAIRES AND BILLIONAIRES as per my statement. That is a FACT. I know you don't like facts unless you are accusing others of not providing them, but it is a fact. Once again when shown to be WRONG or unable to answer you resort to calling people right wing to shut down any further humiliation for yourself.

It's clear you have no idea what valid evidence looks like. If such statements are out therr it' s incumbent on you to produce them.

32 minutes ago, mokwit said:

I am assuming that someone calling himself Bristolboy is British. 

https://en.wikipedia.org/wiki/List_of_places_called_Bristol

 

He is CLEARLY RAILING AGAINST MILLIONAIRES AND BILLIONAIRES as per my statement. That is a FACT. Answer me this Is he or is he not saying MILLIONAIRES AND BILLIONAIRES? The clip is valid evidence that he is. What further proof that he is saying this do you need? are you suggesting that he is saying something else and a fake soundtrack has been overlaid? You state that you did not listen to it all so how can you comment that the evidence is not there?

Edited April 16, 20197 yr by mokwit

I did produce it. He is clearly railing against millionaires and billionaires. What rules am I breaking? We're not playing schools now, Teechuh.

Edited April 16, 20197 yr by mokwit

A total nonsense video has been removed

3 hours ago, mokwit said:

 

The joke about Trump is that he inherited $100m and turned it into $100m - the reason he won't release his tax returns IMO is that he is worth nowhere near what he insinuates he is worth.

Posible very true, if all his creditors and investors realised he was nothing but hot air...

Remember the Dot-Com Bubble???

Bolshevik

Berinie is a fake plain and simple.  He is an elitist who wants to get rich off the back of the poors.  I had high hopes for him years ago but his hypocrisy was soon revealed.  Anyone remember the exotic sports car Bernie was cruising around in last primary?

2 hours ago, mokwit said:

He is CLEARLY RAILING AGAINST MILLIONAIRES AND BILLIONAIRES as per my statement. That is a FACT. Answer me this Is he or is he not saying MILLIONAIRES AND BILLIONAIRES? The clip is valid evidence that he is. What further proof that he is saying this do you need? are you suggesting that he is saying something else and a fake soundtrack has been overlaid? You state that you did not listen to it all so how can you comment that the evidence is not there?

 Bernie is a fake. 

Edited April 16, 20197 yr by tlandtday

Just now, tlandtday said:

Berinie is a fake plain and simple.  He is an elitist who wants to get rich off the back of the poors.  I had high hopes for him years ago but his hypocrisy was soon revealed.  Anyone remember the exotic sports car Bernie was cruising around in last primary?

He needs it to drive between his 3 houses.

3 hours ago, Chomper Higgot said:

Yep Bernie Sanders is the real problem:

 

 

This is a problem but if you think the Dems (Bernie included) or Repubs or anyone will break this cycle is kidding themselves.

Just now, tlandtday said:

Smoke another doobie.  Bernie is a fake. 

I think you are misunderstanding the point I am making - that he is a hypocrite. He used to rail gainst millionaires and billionaires but now he is one he is entitled to his million coz he worked for it (same as most did).