Jeb Bush will be releasing 33 years worth of tax returns today, a record for a presidential candidate. Bob Dole (R-KS), previously held the record with 28 years of returns disclosed over a period of three presidential and vice-presidential runs. Bush has recently come under fire for a history of murky, crony business dealings.
The move comes at a time when only one other 2016 candidate (Carly Fiorina) has made any of their past years’ income public. Financial disclosure papers are required to be filled out by all presidential candidates, but the form only reveals one’s financial wealth in broad ranges for different categories such as income sources, liabilities, and assets. In 2012, for example, Republican nominee Mitt Romney listed his retirement account as being worth $20.7-$101.6 million.
Mr. Bush’s returns will show steady income growth throughout the 1980’s and 1990’s, until he became Governor of Florida (1999-2006). From 2007-present, Mr. Bush’s income spiked from an entrance into various ventures.
In 1980, Bush moved to Miami-Dade Co., FL, where he eventually became a partner in a commercial real-estate development company. Later, he served as a board member of a Norwegian-owned fire equipment company, and bought a minority share of the Jacksonville Jaguars.
Following his tenure as governor, Bush was a board member for the National Assessment Governing Board (2004-2007), an “independent, bipartisan federal board” that sets formal federal education policy recommendations.
In April 2007, former Governor Bush started on Tenet Healthcare’s board of directors, a national health service company, from which he has made $2 million. Later that year in August, he became an adviser for Lehman Brothers private equity division, which filed Chapter 11 bankruptcy in September 2008, and then served in the same role for Barclays after they bought the failed investment bank.[Wall Street Journal]