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JEB BUSH RELEASES 33 YEARS OF TAX RETURNS

Unprecedented Release Totals More Than Any Other Presidential Candidate in History

Miami, FL — Today, Governor Jeb Bush took the unprecedented step of releasing 33 years of tax returns, more than any presidential candidate in the history of the United States. In all, Governor Bush will have released 1,150 pages of tax returns in a display of transparency that is consistent with the high level of disclosure he has practiced during his life in public office.
 
“Most of my adult life has been spent in the private sector – not in government. It’s been a rewarding and full life. I’ve been blessed by having a wonderful family, the best business partners a man could ask for, and opportunities that are out of reach for too many Americans," said Governor Bush. "In the spirit of transparency, this release will show voters how I earned a living over the past three decades and how much of that living I paid in taxes to the federal government. Like most Americans, I know it is time for a flatter, fairer tax code. The labyrinth of rules and special interest carve outs need to go. One thing you can count on if I’m President is that it will finally be addressed. It’s critical if we are going to ensure more people have a chance at earned success.” 
 

Since leaving office, Governor Bush and Mrs. Columba Bush have made significant contributions to charitable organizations through both personal donations and funds raised. Together they have donated $739,511 since Governor Bush left office and helped raise $1,043,164 for Florida Coalition Against Domestic Violence, $7,480,000 for The Cystic Fibrosis Foundation, $17,000,000 for the Barbara Bush Foundation Celebration of Reading and $46,000,000 for The Foundation For Excellence In Education.
 
The complete list of all 33 years of tax returns, context and supporting documents can be found here: https://jeb2016.com/news/my_career_through_33_years_of_tax_returns?lang=en

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Democrats and their allies were not impressed...


American Bridge 21st Century
June 30, 2015

In his enduring commitment to "transparency," Jeb Bush made sure that the incomplete tax returns he posted to his website were unsearchable and difficult to download. So we fixed it for you.



The initial reviews show Jeb's hollow promises on transparency:

Tampa Bay Times: "Bush's transparency has limits. He would not commit to releasing more details about some of his consulting clients or several limited liability corporations he had created but has since resigned from."  

Washington Post: "Despite the unprecedented release, Bush’s tax returns may not provide a full accounting of his finances. In the past, he has declined to release tax forms from his various businesses under pressure from political opponents. He has also reportedly been involved in several limited liability companies of unknown purpose. Failure to release information on those entities might prohibit a fuller understanding of his finances."

Bloomberg: "Bush and his campaign wouldn’t release a complete list of consulting clients."

Wall Street Journal: "It is hard to learn the specifics of Mr. Bush’s income from his return, though he told reporters that the bulk of his income in recent years came from two sources: speeches and consulting."

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Kevin McAlister
Deputy Communications Director
American Bridge 21st Century

Democratic National Committee
July 1, 2015

“Transparency”:
 
“The staging and packaging of this document dump was a sleight of hand aiming to distract from the disclosures themselves — the fact that Bush is very much a one-percenter who has aggressively monetized his family connections to amass significant wealth amid a recession — and from several bad business dealings with questionable associates that have already been well-chronicled.” – Politico, 06/30/15
 
“Bush's transparency has limits. He would not commit to releasing more details about some of his consulting clients or several limited liability corporations he had created but has since resigned from.” – Tampa Bay Times, 06/30/15
 
“Bush excluded forms that would have disclosed the names of clients who paid him millions in consulting fees in the years since he left office. Victor Fleischer, a professor of tax law at the University of San Diego, said releasing only some tax information portrays a mixed message about how Bush earned his fortune.” – Washington Post, 06/30/15
 
“Bush and his campaign wouldn’t release a complete list of consulting clients, citing confidentiality agreements.” – Bloomberg, 06/30/15
 
Offshore:
 
“Bush also owned funds run by Abbey Capital LP that resulted in him filing tax forms that include addresses in Malta, the Cayman Islands and Bermuda. Investment funds often set up addresses outside the U.S. to help foreign investors limit their U.S. tax liabilities.” – Bloomberg, 06/30/15
 
“He also profited from investments in Abbey Capital Fund, which according to SEC forms is headquartered in the Cayman Islands and Malta, locales often used to avoid taxation.” – New York Post, 06/30/15
 
His “Own Man”?
 
“Bush's financial successes coincided with two political events: his father's election as president in 1988 and his own departure from office as Florida's governor in 2007.” – AP, 07/01/15
 
“But suddenly, in 1990, the second year of George H. W. Bush’s presidency, Jeb’s income balloons. Not only was that his first year making six figures, but his income of $1.24 million also makes it his first seven-figure year. …After he's back in the private sector in 2007, though, the real boom times begin. Now, Jeb's brother is president of the United States, and Jeb is viewed as a future presidential contender himself. His income soars so much in these years, particularly starting in 2011, that it dwarfs those of earlier decades, topping out at $7.36 million in 2013, the most recent year available.” – Vox, 06/30/15