Return can be and there are highlights of important questions by this president of his tax returns. All right, who are we kidding . You are not finished from this. Come on over here. Lets do a few more minutes on this. I will be more in a few minutes thank you, rachel. Well continue our breaking News Coverage of the tax documents that recently arrived in David Cay Johnstons mailbox, thats how we know this and thats how he got it. This information reveals the president s basic Tax Information of his 2005 return. And revealing tax returns like this is something that all president ial candidates and president s normally do. They just release this, this is not breaking news for any other president ial candidate. It has been a white house ritual for the president and the Vice President to release their tax returns in the first or second week of april as april 15th approaches. The tradition is for the president to always release his tax returns before tax day, before april 15th showing exactly how much hes paying on how much tax hes paying on how much income hes earned. These are the trumps documents filed jointly with the first lady. We see it every year with the president and the Vice President. We see the president and Vice President paid their taxes on time and they are encouraged enough to do the same thing. This year, we may see of the Vice President maintaining that tradition and while the president continues to refused handing Tax Information. Here is what donald trump, the candidate, had to say about releaing his tax returns. I pay hundreds of millions of dollars in taxes but, but as soon as my routine audit finished, i will release my returns. I will be proud to. I am under a routine audit and it will be released. As soon as it is finished, i will release it. A routine audit. From the first emergen of the audit excuse, we have pointed out on this program that there is absolutely no proof and never has been proof that any of Donald Trumps relevant tax returns are being audit. Audits begin with a letter from the irs. Donald trump has never produced that letter, i have requested that letter from the trump campaign. If hes audited, he would have that letter. It would tell us very much at all. Still, even that letter would not prove that donald trump was still being audit. It would only prove that an audit was commenced on a certain date and that audit might or might not still be going on. There is no reason to believe that donald trump is being audited if he will not even release the foreign letter that commences an irs audit. You just heard donald trump says he paid hundreds of millions of dollars in taxes. Thats really important. Lets listen to that one more time. I pay hundreds of millions of dollars in taxes. Tax information revealed of donald trump tonight shows nothing like that. Joining us now with the facts. David cay johnston, of a nonprofit News Organization covering the Trump Administration and also with us Rachel Maddow, post of the Rachel Maddow show. You tweeted around 8 30 that you have this. The only previous information that we have from donald trump about how much he pays in taxes and how much he pays is what we just heard hundreds of millions of dollars that he pays in taxes . We dont know what this indicates about other years. One of the things david has been able to document over the years is he found when he was looking over trumps businesses, casinos. Negative income. One year and next year, you know you have to watch things like big losses that he takes over a number of year. This year, we have just been published tonight. You see him carrying over a hundred Million Dollars of a previous years loss, that explains a lot about how hes able to minimize tax burdens over the years. This raises more questions. 1995. This is our only 21st century information. On that 100 million loss thats on here. There is nothing we see in these pages that identifies what that 103 million loss is. No. The first reasonable thing to assume that the 918 million tax shelter that donald bought which should be 900 million income and convert it under a deal of republican shut down. They heard about it and let him keep his deal, him and others. If this is the residue of it, that means he was able to write off an average of 81. 5 million a year for the previous ten years. The white houses statement tonight suggests there are additional new tax laws in there. Perhaps, tax incomes are higher than 81. 5 million a year. It is 38 million. That includes his self Employment Payroll tax and most of it is medicare and income tax. A lot of money. Lets stick to the right number. Lets go to the white house here. This is the white houses response that they put out before your broadcast. Before being elected president , mr. Trump was one of the most successful businessman in the world with a responsibility on an income of more than 150 million, as well as paying tens of millions of dollars. Now, you know, i could not keep a straight face on that part. He pays taxes every time he buys milk duds. So he pays the gasoline taxes, too. No one mentions that. He does not have to pay jeff fields taxes. So, after he gets doing that about paying sales and excess taxes and employment taxes and this illegally public return proves just that. It is totally illegal to steal and publish tax returns. The Dishonest Media continues to make this their agenda as the president focuses on his which includes tax reforms thatll benefit all america. One of this things that he has been hiding. He knows it is illegal and it is a crime for the irs to review anything of his Tax Information, including a crime of them to review that hes being audited. Hes been able to say that i am being audited and i pays hundreds of millions of dollars. The people who handles those returns at the irs cannot say anything publicly. The other people are accountants who are worked for trump. David, you got this in your mailbox. I did not hear you stole it. Donald trump says you stole this. There is nothing illegal about this. I am disappointed of the statement of sean spicer was dishonested if i go to somebody and say hey, give me your tax returns from your Accountant Firm and i publish it, thats a different story. I got this over my home. And, suggestion that it is illegal for the public is nonsense. Remember to donald trump, he lives in a world where in the judge screws with him, bad judge. Donald sees himself and talks about the presidency as a dictator. Calling this a Dishonest Media in this statement, there is nothing dishonest about this. There is nothing dishonest about this publication or nor would they accuse us. We are all journalists and on the look out for somebody trying to sucker us into something. When we got there and david got this and puts this on television. You said to the white house and we sent it to the white house, verify it to us. They did not come back and saying it is not true. They verified the income and the terms of it and the tax paid. They essentially verified the documents and calling us dishonest at the same time. Had this been a fake document, nobody would publish it. They give it to us and they pub lished it and insulted us. Thats not at all in keeping of the facts that this is brought to the public. One thing they did not say is this is dishonest, he pays hundreds of millions of dollars in taxes. They did not argue. They adopted it in the statement as much as you are asking for of this being the real thing. Can we go one other thing on this audit issue. Trump has said and i am being audited so i cannot point out on my taxes. David, one of the things you pointed out even if that were true, even if we decided that you could not release tax returns, is it basically impossible that Donald Trumps tax returns from the 1970s and 1980s and early 2000s, these are all old and still unaudit . There is no statues of limitations. Trumps lawyers, of the most art full written legal letter that i have read in my life says that he was under audit. They never used the word audit. I think we can assume that 2008 and earlier there is no audit well, i would love to see that. Thats when he was giving that 95 million for that house. When you submit your tax return, you signed of an under personality of jury. I say everything of this return is true of the best of my ability. Releasing the audit does not have anything to do with it. You made your collect realization under oath that it is real. Either we have a president that violates itself and concerns of what we found out or sources of income or obligations to people that bring into questions of his integrity and loyalty. I am frankly having been covered him are concerned onoth of those. We have an absolutcontempt for the democratic process in the white house. I dont see any other options here. The notion that if we got the rest of this, this return, by the way, could have hundreds of pages. 500 or 150 pages easy. To backup all the things that are in here. We still may not necessary ly know real sources of income and if not all of it, passes through companies that he owns. That company can pass it to another company that he owns and what shows up in terms of the origin inside here some where, 200 pages down there. It maybe not be the actual. We have a much better road map, we may not have a full picture, absolutely one of the straightforward lines here thats interesting is number 7 where he talks about he gets he has wages and salary income which is unusual for his case. It is about a Million Dollars. Could be hers. His wife is a model. Shes on here. She was never at that league of business. No. That could be his Television Income could have been paid that way. Even that, most of that is paid through personal corporations. Thats the one that you saw the documents for that. The executive producer, he may have gotten both the salary and a profit chair in the program. But, we dont know what that was for. Can you stay for a little here. Eventually, i want to go line by line. Thats great. I cannot resist this. Stay with us, well be right back with more of this continuing breaking News Coverage of the new tax documents revealed tonight on rachels show, David Cay Johnston received in his mailbox. Thats the news tonight, well be right back. alarms wheres the car . Itll be here in three. Uh, four minutes. Are you kidding me . No, looks like he took a wrong turn. Dont worry, this guys got like a fourstar rating, were good. His name is randy. Thats like one of the most trustworthy names ordering a getaway car with an app . Are you randy . Thats me awesome surprising. Whats not surprising . How much money erin saved by switching to geico. Everybody comfortable with the air temp . I could go a little cooler. Ok. Fifteen minutes could save you fifteen percent or more. Bounty is more absorbent,mom per roll so the roll can last 50 longer than the leading ordinary brand. So you get more life per roll. Bounty, the quicker picker upper whattwo servings of veggies . V8 or a powdered drink . Ready, go. Ahhhhhhhh shake shake shake shake shake done you gotta shake it i shake it glad i had a v8. The original way to fuel your day. It was arrived from johnstons mailbox. Here is what donald trump jr. Had to say next. Ooh. Psst. Hey. Where you going . Weve got that thing you know. Diarrhea . Abdominal pain . But we said wed be there. Woap, who makes the decisions around here . Its me. Dont think ill make it. Stomach again. Send if youre living with frequent, unpredictable diarrhea and abdominal pain, you may have Irritable Bowel Syndrome with diarrhea or ibsd a condition that can be really frustrating. Talk to your doctor about viberzi. A different way to treat ibsd. Viberzi is a Prescription Medication you take every day that helps proactively manage both diarrhea and abdominal pain at the same time. So you stay ahead of your symptoms. Viberzi can cause new or worsening abdominal pain. Do not take viberzi if you have or may have had pancreas or severe liver problems, problems with alcohol abuse, longlasting or severe constipation, or a blockage of your bowel or gallbladder. If you are taking viberzi, you should not take medicines that cause constipation. The most common side effects of viberzi include constipation, nausea, and abdominal pain. Stay ahead of ibsd. With viberzi. Will you release your tax returns and prove what you are saying . You know the only ones that cared about my tax returns are reporters. No, i won, i became president. We are back with Rachel Maddow and David Cay Johnston broke stories about the talks of two pages of Donald Trumps 2005, personal income tax returns filed jointly with his wife melania. We heard him say no one cares about it except Rachel Maddow and David Cay Johnston. 74 says he should release his tax returns. 74 of americans. 18 say should not and 8 no opinion. 74 wants to see the information that you present tonight and as i said at the break there. He has tweeted saying, thank you, Rachel Maddow for providing to your trump hating followers, how successful that donald trump paid 40 millions in taxes. Donald jr. Forgets that his father says he paid hundreds of millions in taxes. There are very few people and even among trump haters in the world for who he hates about them whether or not there ises hate is involved here. And honestly, there is a reason why more than 70 of the country wants to see these tax returns. It is not a belief that you catch donald trump. I think the reason people want to see this because they are worried that their president maybe acting without royalty. We never should have to worry about that, in the 1700s and the 1900s and this century. We never have materials caused to worry about that. This is the one that he wont let us see his finances. Thats the problem. If you want to make it about me and hatred and the petty concerns here, go for it. You are missing the point. You took us on a tour of the possibilities of divided loyalties in this administration. The entire story as to why these returns of, this president s returns are the most important in history because we need to know what his Financial Dependence maybe in russia and elsewhere. There are a number of financial ties that he has, business partnerships that raised concerns. I only did some of them, we did not talk about indonesia or south america. Even if you just just look at the focus of of a long new yorker piece recently, it is really easy to absorb. The trump family and the organization, how to partnership there of the family of a notoriously corrupt government official. It made no sense of financial grounds. The people who they were partnered with have partnered with the Iranian Revolutionary guards and are profoundly flagrantly corrupted. There is a legal under the corrupt act to take income from corrupt sources, to take income to be involved in business partnerships or bribes and etc. There are something bigger of the we have a problem on criminal grounds and National Security grounds and in terms of leverage. If either of those things are true, his potential susceptible to blackmail on that subject is mind blowing in terms of what et mean is in our country, alone and in the world. Thats why you see this president s tax returns. It is not because of some vanity of how rich he is, it is because of our country and our security. And david, the other thing you can get out of this is there are some public information, rachel has talked a couple of times about this russian. We would love to see in tax files how that game was treated. We would love to be able to see, is it the amount that is publicly reported on it. Is it some smaller amount and why would it be smaller amount. All of that lives inside these documents. The deal and inspected by palm beach had been done by a city councilman. If i can you over paid the politicians for real estate. You are trying to hide money from your wife, you dont want to over paid. Donald trump jr. s tweet. I dont hate donald trump. I find him end lessly fascinating thats why i paid attention to him over 30 years. Donald trump has chosen to run for office. If donald trump jr. Paid attention in 8th grade civic, he would know that it is our duty to tell the truth about our elected leaders. By his standard, the homicide detective hunts down the killer and hates the killer. I dont care who the killer is, all i care is the person that i catch is the killer. Thats the issue. Rachel, what are you hoping for in the next chapter of this coverage . Thats a good question. Um i think that we should focus in part on the fact that this document somehow made its way to davids. We should know that if the Trump Administration and the credibility of these is predicated in parts on these documents being invisible anymore. If the president wants the American People to believe him in terms of his finances, he better hope that his tax do you means to back him up on that. This is not the last thats coming out. The more we learn about this, the closer well get to the truth about his foreign entanglement explains of what just happened in our election. This race is in the trump tax legislation thats coming up. How does he benefit . Oh, he makes it out like a bandit. Well pick this up after the break. Rachel, thank you very much for joining us tonight and thank you for staying late. I knew you had a few more things saying about it. We are going to be right back with David Cay Johnston and more details on what we discovered in these summary pages of Donald Trumps 2005 tax returns. At ange there are certain things you can count on, like what goes down doesnt always come back up. [ toilet flushes ] so when