Pulitzer Prize winning author David Cay Johnston has some questions to ask Bernie Sanders….and the other candidates as well. The only candidate to release their tax returns is Hillary Clinton, going all the way back to 1992!
Bernie Sanders holds himself out to huge and adoring crowds as a model of personal, political and financial integrity. But when it comes to revealing his income tax returns, Sanders is as tricky a politician as Republicans Ted Cruz and John Kasich. In this bizarre political year, Donald Trump has shown more candor than Sanders when it comes to his tax returns. That is an amazing and disturbing feat, given Trump’s penchant for exaggeration and just making stuff up, as I have been documenting since 1988. Understand that while Trump has fabricated an excuse for not disclosing any of his income tax returns, he was being more forthright than Sanders, who tries to pretend that he has disclosed his taxes.
What may surprise some is that of the five remaining Presidential candidates, only Hillary Clinton has been completely candid and forthright about her and her husband’s income tax returns, a policy of theirs that dates at least to 1992. Despite her singular transparency, news organizations routinely write, without citing any verifiable supporting facts, about Clinton’s perceived mendacity. So what’s the issue? The Sanders, Cruz and Kasich campaigns have all distributed what they claim are tax returns; Kasich for seven years, Cruz for four, and Sanders for just one year, 2014. But those proclaimed disclosures were neither accurate nor honest. None of those candidates has released even a single tax return. What they made public instead was merely a summary known as IRS Form 1040. That form is no more a tax return than the Preamble is the Constitution.
There appears to be some irregularities in Sanders’ financial disclosures. Shouldn’t Sanders be walking the walk instead of just talking the talk?
On disclosing tax returns Trump scores better than Sanders, because while Trump will not release his returns, citing a bogus excuse, he has not tried to pretend that he did disclose. But that is exactly what Sanders, Cruz and Kasich did. (Trump says he can’t disclose because he is under IRS audit, even though revealing his returns would have no impact on the audit of a tax return, which is signed under penalty of perjury.) Contrast their conduct with Hillary Clinton, whose every tax return signed by her and husband Bill has been disclosed since at least 1992. That’s how we know they are far more charitable than the self-described “ardent philanthropist” Donald Trump or any other of the various presidents back to FDR (and some presidential wannabes like Newt Gingrich) who have made public their tax returns. Those returns, and in some cases only Form 1040s, are posted at taxhistory.org, a website maintained by the nonprofit Tax Analysts, for which I write critiques of tax policy.
As for Sanders, the single Form 1040 he released raises more questions than it answers, especially since the junior senator from Vermont has a history of making incomplete and misleading financial disclosures. In 2014, he reported an adjusted gross income of $205,271, most of it from his Senate salary. What appears unusual are his itemized deductions, totaling $56,377, a whopping 27.4 percent of his income. People in his income class of $200,000 to $500,000 on average take 15.6 percent of their income as deductions, while those in the $100,000 to $200,000 range averaged 18.8 percent. Both averages are far below the Sanders itemization rate. Sanders and his wife paid $27,653 in federal income tax, or 13.4 percent of their adjusted gross income.
summing it all up….
To readers who think this sounds too harsh, I’d say that when Sanders holds himself out as a paragon — running a campaign built on the idea that he remains untainted by money from the rich and powerful — he should be expected to walk the talk.
Sanders set the standard here. I am holding him to the same measure of integrity that I have used to assess Bill and Hillary Clinton, George W. Bush, Steve Forbes, and numerous other politicians at the federal, state and local levels going back almost 50 years to my first investigative story.
Last fall, Sanders revised his 2012 and 2014 financial disclosures twice. His 2013 disclosure was revised three times. Sanders failed to disclose four mortgages, all of them at market interest rates, which raises a question about his judgment, since nothing appears improper except the failure to fully disclose.
Mark Lippman of Daily Kos was evidently the first to report the Vermont senator’s incomplete disclosures.