Billionaire financier Tom Steyer released nine years of tax returns on Thursday afternoon. At over 2,600 pages, the staggering sum of documents is far beyond what any other candidate in the race has reported in tax returns so far.
Steyer made around $1.2 billion from 2009 to 2017, the years his campaign made available. In 2017, Steyer made $146 million. His lowest income was in 2009, when he made $60.8 million.
Steyer has yet to release his 2018 tax returns, which his campaign said he’s still in the process of filing, and which could provide significant insight into what his contributions looked like during the midterm elections when Democrats took back control of the House of Representatives. As for Steyer, his highest incomes came in 2014 at around $189.3 million and in 2010 at around $175.4 million -- was also the year he and his wife signed the Giving Pledge.
He has poured hundreds of millions of his own money into electing Democrats who support Trump's impeachment. In 2018, through those two political organizations, he spent $74 million in the midterm elections with the goal of electing progressive candidates across the country. "In our business, we invested in every part of the economy, including fossil fuels," he told ABC News' Jonathan Karl."When I realized what a threat this was, I changed. I divested from all that stuff."
Steyer, who supports a wealth tax, said under his own proposal he would"pay more than an additional $10 million annually in taxes," according to a memo released with the tax returns. Steyer’s wealth tax would require 1 cent for every dollar over $20 million. By comparison, Warren’s wealth tax calls for 2 cents on every dollar after $50 million and 3 cents after $1 billion.
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