FOR IMMEDIATE RELEASE
Contact: Frank Garvey,
Time for a Raise Campaign
Washington- January 18, 2016 – Today, Frank Garvey, organizer for Time for a Raise, called on the 2016 candidates who have not released their income tax returns to do so before the Iowa Caucuses On February 1st, 2016.
All the Democratic candidates have released their tax returns, but only approximately half of the Republicans have released some of their returns. While Jeb Bush, Chris Christie and Carly Fiorina have released all of their most recent returns, Marco Rubio, Ted Cruz, John Kasich and Rick Santorum have only released partial tax returns, and none from the past four years.
Five Republicans, Ben Carson, Jim Gilmore, Mike Huckabee, Rand Paul and current front-runner Donald Trump have not released any of their tax returns.
Tax returns are vital to showing the financial entanglements of the presidential candidates, as well as their financial investments. This is especially important as many of the GOP candidates propose policies that will destroy the social safety net for working families.
Ben Carson has announced a 14.9% flat tax plan that would hike taxes for the nation’s most vulnerable.
Rand Paul’s plan would similarly institute a 15% flat tax.
Donald Trump’s tax plan would cut the tax rate for the wealthiest Americans from 39.6% to 15%. Don’t the American people deserve to know how much Mr. Trump stands to gain from his own economic policies?
Mike Huckabee has proposed abolishing the IRS in favor of a National Sales Tax, which would disproportionately hurt lower-class families.
Jim Gilmore wants to cut the tax burden for the wealthiest Americans down from 39.6% to 25%.
All of the candidates who haven’t released their tax returns have proposed plans that would adversely affect the working class. None of these candidates support raising the federal minimum wage above the paltry $7.25 minimum that it is today.
Unfortunately, the 2016 GOP candidates choose to ignore the needs of the millions of Americans who earn the federal minimum wage of $15,000 a year.
Candidates are only legally required to submit financial disclosure forms to the FEC (not income tax returns). FEC disclosures often only paint a partial picture of a candidate’s potential conflicts of interest and are not as detailed as a tax return. Surely Donald Trump, who presides over a vast economic empire, and views his wealth as a credential for his presidential campaign, should understand that the voters need to know about his financial relationships.