Boring but important
Trump releases tax letter
President Trump’s tax lawyers released a letter last week saying that his income tax returns show no income or debt from Russian sources over the past 10 years, “with a few exceptions.” Trump made $95 million from the sale of a South Florida mansion to a Russian billionaire in 2008, and received $12.2 million after holding the Miss Universe pageant in Moscow in 2013, according to the letter. The lawyers did not release Trump’s actual tax returns, and their letter covers income only from the past decade. It also does not indicate whether Trump received Russian income or loans from entities registered elsewhere. “This is an artfully written letter, covering a limited time period,” said tax expert David Cay Johnston.