Thursday, 25 April, 2019

Bernie Sanders Releases A Decade Of Tax Returns

All Aboard the Obama Nostalgia Train Bernie Sanders’ campaign escalates feud with top liberal think tank
Jeannette Daniel | 16 April, 2019, 12:51

Much of Sanders' income came from books he has written about his democratic socialist platform, which includes a call for higher taxes on the wealthiest Americans.

Sanders in 2018 made $110 in music royalties, presumably for his 1987 folk album, "We Shall Overcome", and an additional $1,810 from his 1997 memoir, "Outsider in the House", which was published by Verso.

Sanders reported an adjusted gross income of almost $561,293 and paid $145,840, a 26% effective rate, in 2018, the documents show.

Former New Hampshire Democratic Party chair Kathy Sullivan said that while she does not see a problem with Sanders' financial status squaring with his commitment to curbing income inequality, she was struck by the way he handled questions about his wealth. Years ago my wife was a president of a college. According to the liberal-leaning Economic Policy Institute, families in the U.S. earning $421,926 or more a year are part of this group. "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. "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. "I consider paying more in taxes as my income rose to be both an obligation and an investment in our country".

Sanders, 77, has also listed Social Security payments for each year of the decade of tax returns he made available Monday. By 2018, his wife, 69, was also taking Social Security, providing the couple with almost $52,000 for the year. In 2016, the couple reported a little more than $1 million, mostly from sales of the book, which was also translated into five other languages. At a campaign stop in Gary, Indiana, a reporter asked Sanders whether his millionaire status was at odds with his populist economic message. Bernie Sanders (I-VT) agreed to a town hall with the conservative network. In the most recent year released, 2017, he had an adjusted gross income of $366,455.

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Sanders and his wife disclosed $36,300 in charitable contributions in 2017, but their return does not detail each individual contribution.

Sanders reported earning over $850,000 as an author in 2017 and almost $800,000 as an author in 2016.

Jane Sanders was a co-founder of the nonprofit, along with her son, David Driscoll, who became the institute's executive director. Jane Sanders said the nonprofit would cease operations beginning in May "so there could not even be an appearance of impropriety".

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. "If anyone thinks that I should apologize for writing a best-selling book, I'm sorry, I'm not going to do it".

After Sanders put out the past decade of his taxes, former Texas Rep. Beto O'Rourke did the same on Monday evening, though without his 2018 return which he hadn't filed yet but said he would make public as soon as he filed. The tax returns are from 2009 to 2018. "This clearly is not the tax return of someone who does either a lot of tax planning or complex investing".

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