Trump stating his income in a way that qualifies him for a middle class tax program https://t.co/9R61Fszda2

— Ben Smith (@BuzzFeedBen) March 8, 2016

Okay, here’s what I think is going on. Trump’s probably got so many close corporations and shell companies (REITs, LLCs, LLPs, etc.) doing business that the cumulative value may be in the billions, but that doesn’t address his personal fortune (which may be further split up by having his children in the family real estate business), or his annual income.

He’s managed to figure out how best to minimize his tax bill to the point where he actually qualifies for the NYS STAR tax relief program, which only applies to where AGI after certain adjustments is $500,000 or less.

So, his tax return income has to be $500,000 or less in order for him to get STAR relief, which is probably why he’s so reluctant to release his tax forms. They’d show that he’s not worth nearly as much as he claims personally.