--- title: Harry Reid: Donald Trump Is 'Faking' His Net Worth description: Senate Minority Leader Harry Reid argued that Donald Trump has not released his tax returns because he's not worth as much as he claims. canonical: https://time.com/4501199/harry-reid-donald-trump-taxes/ author: Daniel White article:opinion: false article:content_tier: free article:published_time: 2016-09-20T15:29:19.000Z article:modified_time: 2026-08-19T07:45:35.980Z article:section: Politics og:title: Harry Reid: Donald Trump Is 'Faking' His Net Worth og:description: "He's not worth nearly as much as he claims to be." og:url: https://time.com/4501199/harry-reid-donald-trump-taxes/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt1b87e8dbd05f1417/69889a3a656a3f50d0bcc1de/zika-funding-congress.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 2560 og:image:height: 1440 og:image:alt: Harry Reid, Chuck Schumer og:type: article twitter:card: summary_large_image twitter:title: Harry Reid: Donald Trump Is 'Faking' His Net Worth twitter:description: "He's not worth nearly as much as he claims to be." twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt1b87e8dbd05f1417/69889a3a656a3f50d0bcc1de/zika-funding-congress.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # Harry Reid: Donald Trump Is 'Faking' His Net Worth > Sponsored content. 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In the Loop is TIME's AI newsletter, built on original reporting and access to the people building and governing AI. It publishes Tuesdays and Fridays and is free at time.com/newsletters. #### Who writes TIME's In the Loop? Harry Booth, a tech reporter at TIME, writes In the Loop. #### Is In the Loop free? Yes. In the Loop is free at time.com/newsletters. by [Daniel White](https://time.com/author/daniel-white/) ## Daniel White Sep 20, 2016 3:29 PM UTC  Senate Minority Leader Harry Reid of Nev., accompanied by Sen. Charles Schumer, right, faces reporters on Capitol Hill in Washington, June 28, 2016. Senate Minority Leader Harry Reid of Nev., accompanied by Sen. Charles Schumer, right, faces reporters on Capitol Hill in Washington, June 28, 2016. J. Scott Applewhite—AP by [Daniel White](https://time.com/author/daniel-white/) ## Daniel White Sep 20, 2016 3:29 PM UTC Senate Minority Leader Harry Reid argued that Donald Trump has not released his tax returns because he’s not worth as much as he claims. Speaking on the Senate floor Tuesday, the Nevada Democrat argued that the country is being ripped off by “really rich people, some who are billionaires, others who claim they are billionaires.” Reversing a decades-old trend, the Republican presidential nominee has declined to release his tax returns, arguing that he should not do so because he’s being audited. He [would be the first major party presidential nominee](http://www.nytimes.com/2016/08/13/us/politics/hillary-clinton-tim-kaine-taxes.html) not to make his taxes public since Richard Nixon. “He’s not worth nearly as much as he claims to be, that’s a secret he doesn’t want anyone to know,” Reid said on the Senate floor. “Simply put, Trump is faking his net worth because he doesn’t want us to know that he’s not a good businessman.” This was not the first time that Reid has taken this tack. In 2012, he alleged that then-Republican presidential nominee Mitt Romney had not paid taxes in over a decade, citing an anonymous source. That was revealed to be untrue when Romney released his returns, but [Reid never apologized](https://www.washingtonpost.com/news/the-fix/wp/2016/09/15/harry-reid-lied-about-mitt-romneys-taxes-hes-still-not-sorry/). Democratic presidential nominee Hillary Clinton has [released tax returns](http://www.politico.com/story/2015/07/hillary-clinton-releases-eight-years-of-tax-returns-120882) dating back to 1977. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4501199/harry-reid-donald-trump-taxes/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4501199/harry-reid-donald-trump-taxes/"},"headline":"Harry Reid: Donald Trump Is 'Faking' His Net Worth","datePublished":"2016-09-20T15:29:19.000Z","dateModified":"2026-08-19T07:45:35.980Z","description":"Senate Minority Leader Harry Reid argued that Donald Trump has not released his tax returns because he's not worth as much as he claims.","url":"https://time.com/4501199/harry-reid-donald-trump-taxes/","keywords":["Donald Trump","2016 Election","Congress","Harry Reid"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt1b87e8dbd05f1417/69889a3a656a3f50d0bcc1de/zika-funding-congress.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Daniel White","jobTitle":null,"url":"https://time.com/author/daniel-white/"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt1b87e8dbd05f1417/69889a3a656a3f50d0bcc1de/zika-funding-congress.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Harry Reid, Chuck Schumer","caption":"Senate Minority Leader Harry Reid of Nev., accompanied by Sen. 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