Bernie Sanders’s Tax Returns Released Ahead of 2020 Democratic Presidential Bid


Senator Bernie Sanders speaks during an event to introduce the “Medicare for All Act of 2017” on Capitol Hill, September 13, 2017. (Yuri Gripas/Reuters)

Senator Bernie Sanders on Monday evening released ten years of his tax returns, which show how the self-described democratic socialist’s 2016 presidential campaign made him a millionaire.

Sanders and his wife’s adjusted gross income last year was $561,293 with a 26 percent effective tax rate. Of that amount, $382,920 came from his books and other royalties.

Over the two years since the Vermont independent’s unexpectedly successful challenge to Hillary Clinton for the Democratic presidential nomination, he and his wife, Jane, have earned more than $2.79 million, his returns show, which were released on the deadline for U.S. citizens to file taxes.

Their adjusted gross income in 2017 was $1,131,925 with an effective tax rate of 30.4 percent, and $1,062,626 in 2016 with an effective tax rate of 35 percent.

In 2015, the year Sanders announced his first White House run, they made $240,622.

However, the Sanders reported they also made $18,950 in charitable donations last year. Proceeds from one of the senator’s books also go to charity, a contribution they do not claim a deduction for.

“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,” he said.

Several other Democratic presidential candidates have released their tax returns as well, including Senators Kamala Harris, Amy Klobuchar, Elizabeth Warren, and Kirsten Gillibrand, as well as Washington Governor Jay Inslee and former Rep. Beto O’Rourke.

Trump’s opponents have made a point about being transparent about their tax returns given the controversy the president caused by refusing to do so, saying he is still under audit by the IRS. He became the first Republican or Democratic nominee in several decades not to release them during campaign season.

Source link