Why Won’t Bernie Sander Release His Tax Returns

[CajunBlazer]

I just watched a segment on the Bloomberg Politics website of a program called “With All Due Respect” which was recorded today, Monday, 4/11/16. The host Mark Halprin and Campbell Brown interviewed Jane Sanders, wife of Senator Bernie Sanders. Among other subjects discussed was budding controversy involving the fact that thus far Bernie Sanders has only released their tax returns for 2014. None of their prior year returns have been released while Hillary Clinton has released her returns for the last eight years.

In the course of answering a number of questions and follow up questions Jane Sanders essentially said that she files the taxes through TurboTax. She also said it has been her fault the forms have not been released, that she just hasn’t had time to find the old returns and put them out to the press. She also said that Bernie had released tax returns in the past.

The fact is that the Sanders have only released the Form 1040 (the summery pages, not all of the documents) of their 2014 federal returns and their one page 2014 State of Vermont return. The claims of both Bernie Sanders and his wife Jane that they have in the past released prior year returns in conjunction with his Senate campaigns have earned “Four Pinocchios” from several fact checking organizations.

Come on let’s get real. Bernie Sanders said that his prior year’s returns are dull and boring and that there’s nothing to them. Donald Trump says there’s nothing to be found in the tax returns he “hasn’t gotten around to releasing” as well. Why should we believe either of these politicians?

Rest of article here: Why Won’t Bernie Sander Release His Tax Returns

[SunSeeker]

1. K & R

[Thinkingabout]

2. The tax returns would reveal lots, probably will show they are more involved in Wall Street

investments than he would want to reveal. Say one thing and do something else, pander to the OWS group.

[SharonClark]

3. Must be hiding something

[DesertFlower]

4. too busy. she can print it off her computer or

if she has a hard copy (which she should) produce it. how long does it take? i can give you mine in 2 minutes.

[radical noodle]

5. Do they file jointly?

All I could find the other night was a handful of financial statements that he'd made out which might or might not be correct.

[CajunBlazer]

7. In researching the subject I found...

Last edited Thu Apr 14, 2016, 01:22 AM - Edit history (1)

some interesting facts:

According to the 2014 Form 1040 that they released they filed joint and claimed about $200K in income, the majority of which was from his Senate salary. I also read that some time ago, they transferred most of their joint assets, including a rental property in Burlington and a condo in Washington into Jane's name. I don't understand the financial reason for doing that.

They don't seem to be good managers as he makes $174 K a year plus expenses as Senator and until the last two years Jane always had good paying jobs.

For several years Jan was as senior partner in a consulting firm where she worked as a political and educational consultant for federal, state, and local political campaigns. She also served in Sanders's Congressional office as Chief of Staff and as Policy and Press Adviser.

She was also President of Burlington College from 2004 to 2013 when she resigned, supposedly under duress for financial mismanagement of the college. During that 9 year period her salary grew from $103,500 to more than $150,000 a year. It has been reported that she received a $200K golden parachute when she resigned.

One has to ask why the Sanders have so few assets and fairly large liabilities. It isn't be because they gave their money away because Bernie is not big on giving to charities.

In 2000 they took out a 30 year loan to pay for the Washington Condo. They could have paid of the condo by now at cheaper interest rates had they taken out a 15 year loan instead. and Sanders reported $25,002-$65,000 in credit card debt on 2 Visa cards which carry interest rates of 8.5% and 10.25%. If they have the assets it make no sense to not pay off the credit card debt and avoid between $200 and $500 a month in interest payments.

They also supposedly have under $750K in assets which isn't much money for a couple that are 74 and 65.

[radical noodle]

8. There has to be a reason they don't want to submit their taxes

You're right, the credit card debt is odd. At this time of their lives they should be at their peak of earnings and have most stuff paid off. I have more assets than that and I sure don't own a condo in DC. I'm also confused about moving everything to Jane's name at that point unless there was the anticipation of a health problem and long term care being necessary or to keep one of his adult children (not Jane's) from getting part of his estate? It is strange.

[CajunBlazer]

9. Very Strange

My wife and I never came close to earning what Bernie and and Jane earned during their peak earning years. However, we have no debt and a great deal more in assets than they have after we both essentially started over in our late thirty after costly divorces.

Either the Sanders have something very strange going on or they are very bad money managers. i guess there could possibility be another reason, but I don't see it.

[mcar]

6. An excellent question

[still_one]

10. 1040 doesn't tell you anything. What deductions did they take? What charities did they

give to. If his wife is self-employed, did she file schedule C, and if so, what were her business expenses, income, etc.

Everything may be above board, but this bullshit excuse how they are two busy to release them is bogus.

If you can take time off to go to a conference in Italy, then you have time to release your complete tax returns

[NurseJackie]

11. His foot-dragging makes it appear to some that maybe he's done something illegal ...

... but my thought is that it's probably all above-board, and instead, he's delaying because the information would be a big disappointment to those who support him.

[CajunBlazer]

12. I doubt if there is something illegal

But there well may be something embarrassing for Sanders image of a little guy fighting for the little people. Something like joint income north of $350K in 2012. With Jane's golden parachute in 2013, maybe well north of $450K that year all while giving almost nothing to charity. I read that Sanders doesn't think charitable contributions are a good idea. He probably wants all such money funneled through the government like the true socialist that his.

[NurseJackie]

13. Whatever his reasons or motivations ... it's been VERY CLUMSY.

Personally, I think that any candidate for high office should have the skills to handle things like this better than Sanders has done. In my opinion he's either NOT READY to be president, or he's NOT SERIOUS about the nomination.

[athena]

14. Here is another good article about this:

http://www.nationalmemo.com/why-hasnt-bernie-sanders-released-his-tax-returns/

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.

No, a tax return is the entire document filed with the IRS – the forms, schedules, and statements that reveal the numbers and calculations about income, deductions, and tax liabilities behind the summary information on Form 1040. Without the full tax return, the public cannot know sources of income, justifications for deductions, or how aggressively tax law was applied to reduce the income tax due.

[CajunBlazer]

15. Very true, and Sanders has released only his Form 1040 for only one year -2014

And my understanding is that Hillary has release her entire returns for 8 years.

[athena]

16. She has released everything since 2000.

and, in fact, everything back to 1992 is available somewhere on the internet.

Here is the site that keeps track of all the candidates' returns:

http://www.taxhistory.org/www/website.nsf/Web/PresidentialTaxReturns?OpenDocument