UPDATE: President Trump responded Wednesday morning, see below
MSNBC's Rachel Maddow talks about the precedent for why presidents have released their tax returns and the types of questions tax returns hope to answer about Donald Trump's business relationships.
Maddow and David Cay Johnston discuss how Johnston obtained the summary pages of President Donald Trump's 2005 tax returns and what they say about the president's tax burden:
Maddow hyped the segment with the following tweet an hour before her show:
What we've got is from 2005... the President's 1040 form... details to come tonight 9PM ET, MSNBC.— Rachel Maddow MSNBC (@maddow) March 15, 2017
Prior to the segment the White House released this statement:
Mr. Trump paid $38 million dollars even after taking into account large scale depreciation for construction, on an income of more than $150 million dollars, as well as paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes and this illegally published return proves just that.
Read the 2-page 1040:
Trump tweeted Wednesday morning, "Does anybody really believe that a reporter, who nobody ever heard of, "went to his mailbox" and found my tax returns? @NBCNews FAKE NEWS!"
Does anybody really believe that a reporter, who nobody ever heard of, "went to his mailbox" and found my tax returns? @NBCNews FAKE NEWS!— Donald J. Trump (@realDonaldTrump) March 15, 2017