Thanks to MSNBC's Rachel Maddow and investigative reporter David Cay Johnston of DCReport.org, America got to see two more pages of President Donald Trump's tax returns.

And while the pages don't tell us much about where his money comes from, what we do know from looking at them is that — in 2005 at least — Trump wasn't making money like the billionaire people thought he was.

In 2005, Forbes put Trump's net worth at $2.6 billion, and Trump was trying to convince people he was worth a lot more. That year, a journalist — Tim O'Brien — reported that Trump's wealth was probably less than $250 million.

The claim got O'Brien sued by Trump, but the suit was dismissed, and O'Brien — then a reporter for The New York Times and now a boss at Bloomberg News — has spent the past year or so beating Trump up over his claims of fabulous wealth.

The tax return doesn't entirely settle the matter because we got to see only two pages of the document, but we did learn some things about where Trump's earnings came from that year.

The return shows he earned about $110 million from his investments. That included a one-time $32 million gain that came from selling off assets, while the rest came from income earned from rental real estate and ownership of businesses, and in the form of interest.

The second chunk — about $78 million — basically suggests what he's earnings from all his assets. On $2.6 billion, it is a return of just 3%. That's not great, but it's not all Trump earned that year. Trump disclosed another $42 million of "business income," but we don't know what this is or if some of it was from his role as a star and owner of "The Apprentice."

Now, anyone can have a lousy year as an investor. But remember that we're talking about 2005. The pre-financial-crisis real-estate bubble was still inflating, stocks were rising, and interest rates were high. You could get 4% just from 10-year Treasury bonds back then, meaning you'd be netting $40 million just by parking $1 billion in the safest investment out there.

Then there's the matter of the $103 million loss. When it came to paying taxes, all that income was whittled down by this huge loss, leaving him with adjusted gross income of $48.5 million. Where the loss comes from also isn't clear, but some tax experts told CBS News that it could be lingering from the huge write-down Trump took in a 1995 tax filing that was released by The New York Times during the campaign.

About $32 million of that is the one-time sale of assets taxed at a lower rate, which leaves another $16 million to be taxed at a regular rate. So that means that with all the losses folded in, Trump is claiming he earned $16 million in 2005.

The reason his tax bill is much higher than that of someone who earned just $16 million is the alternative minimum tax. This is a tax on people or entities that take a lot of deductions. In fact, the way the law was written in the 1960s sounds as though it had a businessman like Trump in mind:

"Individuals or corporations which received the bulk of their income from such sources as capital gains or were in a position to benefit from net lease arrangements, from accelerated depreciation on real estate, from percentage depletion, or from other tax-preferred activities tended to pay relatively low rates of tax."

This is the government's way of saying, "We know you lost money doing business, but you still have to pay on whatever it is you made." Without the AMT kicking in, Trump would have paid taxes of only about $5 million.

That's not billionaire money.

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