Hillary Clinton releases eight years of tax returns
Bill and Hillary Clinton paid an effective federal tax rate of nearly 36 percent last year on their multi-million dollar income and other assets, according to tax returns released Friday. The Clintons reported earning $28.3 million in 2014 and a total of $140,937,785 million from 2007 through 2014.
The Clintons, who now earn most of their income from making paid speeches across the country, have paid $43,885,310 in federal taxes since 2007. Clinton noted in a statement that she and the former president have also paid $13,625,777 in state and local income taxes.
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Their combined federal, state and local tax rate in 2014 was 45.8 percent.
Clinton's campaign released a new batch of the family's tax returns Friday, adding tax years 2007 through 2014 to the returns that Clinton released prior to her first presidential bid in 2008. The Clintons have released tax returns dating back to 1977, though not all of the returns are readily available online.
Clinton submitted a personal financial disclosure form to the Federal Election Commission in May, which showed that she and Bill Clinton together earned just over $25 million between January 2014 and May 2015.
Also included in the new returns is the Clinton's history of giving: Clinton said the couple gave 10.8 percent of their income to charity in 2014. Since 2007, the Clintons have made $14,959,450 in charitable contributions. In 2014, the Clintons gave $3,022,700 in charitable contributions, with the bulk of that - $3,000,000 -going to the Clinton Family Foundation.
"We've come a long way from my days going door-to-door for the Children's Defense Fund and earning $16,450 as a young law professor in Arkansas," Clinton wrote, "and we owe it to the opportunities America provides."
In her statement, Clinton criticized the Republican presidential candidates, specifically Jeb Bush and Marco Rubio, for their tax policies.
"They want to give me another tax cut I don't need," she said, "instead of putting middle class families first."
She outlined several of her own tax proposals, including closing a carried interest loophole for the wealthy, providing tax relief for small businesses and raising short-term capital gains tax rates, which she recently described in a speech in New York.
Clinton's release of her tax returns, which campaign officials maintain is part of their effort to be more transparent, comes just after her campaign released a doctor's note in which her physician deemed her "fit to serve as president" and on the same day the State Department released more of her emails from her tenure as secretary of state.
Jeb Bush last month released 33 years of tax returns, which showed that, since 1981, Bush paid an average tax rate of 36 percent.