In 2016, when Donald Trump won his first term as president, he refused to release his tax returns, shattering a decades-old norm that presidential candidates had followed since the 1970s.
What made Trump’s refusal all the more stunning was the fact that he was, at that point, the richest person to ever run for president — effectively guaranteeing that he would face some financial conflicts of interest in office. And that is the point of releasing tax returns: to give the public enough information to determine whether a politician is acting in the people’s best interests — or his own.
Since then, politicians have felt more emboldened to err on the side of opacity when it comes to their personal finances. In 2020, during the Democratic presidential primaries, billionaire Michael Bloomberg followed in Trump’s footsteps and also refused to release his tax returns. But plenty of other candidates did, including the eventual winner, Joe Biden.
At a time when transparency in Washington seems to be at an all-time low, it’s on states to uphold and strengthen basic standards for candidates running for office. That’s why it’s especially disappointing that in Massachusetts’s governor’s race, none of the major party candidates have released their returns. Democratic Governor Maura Healey and her Republican opponents, Brian Shortsleeve and Mike Minogue, all refused to share their personal tax returns from the last five years with the Globe newsroom.
That’s a disservice to voters, who ought to be able to determine for themselves whether candidates are acting in the public interest. It’s also especially alarming that Minogue, who earned the Massachusetts GOP’s endorsement and has already spent more than $14 million on his own campaign, is opting against transparency. Equally alarming is Healey’s decision to keep her tax returns private given that she’s the incumbent governor. Even if they don’t actually have conflicts of interest, the fact that they aren’t disclosing their tax returns raises legitimate questions about what they might be hiding.
Candidates releasing tax returns wouldn’t be some kind of radical step, nor would it be particularly invasive. In fact, Healey herself released her tax returns when she first ran for attorney general in 2014 — though not when she ran for governor in 2022. And though she wouldn’t be the first incumbent governor to refuse to release her tax returns (see: Mitt Romney and Deval Patrick) gubernatorial candidates, including former governor Charlie Baker, have been more transparent in the past.
Healey’s tax returns ought to be the most straightforward. After all, she’s held elected office since 2015, so her personal finances shouldn’t be that complex. Refusing to release her returns only prompts suspicion — whether warranted or not — that there’s something that she doesn’t want voters to see.
The governor’s office did not respond to a request for comment, though her campaign previously told the Globe that the governor “has provided extensive financial disclosures each year for nearly 20 years.” While it’s true that Massachusetts requires elected officials to file financial disclosure forms, those forms are largely outdated and don’t provide as much detail as publicly disclosed tax returns would.
Minogue’s finances also show the need for candidates to disclose their tax returns. Given his signficant fortune, he is the likeliest candidate to run into potential financial conflicts of interest should he be elected. According to an SEC filing, when Johnson & Johnson bought Abiomed, the medical device company Minogue led, his payout was at least $240 million.
A spokesperson for Minogue said that the candidate “was a public company CEO for 19 years and his financials were public. He has been financially transparent and vetted for nearly two decades, and is releasing all information required of candidates and is happy to do so.” Still, it’s critical for voters to know where he invests his money and where he might face potential conflicts of interests should he become governor.
As for Shortsleeve, his campaign simply said that he “has been consistent: He’s happy to release his tax returns when the others agree to do the same.”
At some point though, one candidate has to take the first step and push others to follow.
It’s understandable why individuals might have privacy concerns and not want the public scrutinizing their personal financial records and statements. But for candidates, releasing tax returns is the bare minimum they can do to show voters that they’ll be transparent. After all, if you don’t want people scrutinizing your record or your finances, then you could always choose not to run for public office.
Transparency is a tool that can be used to prevent corruption. Understanding where an elected official might have a conflict of interest is critical to holding them accountable if they misuse their office.
President Trump has unfortunately demonstrated that brazen corruption can go unpunished, in part by lowering standards and eroding norms — including by not releasing his tax returns or being transparent about potential conflicts of interest.
But we don’t have to accept Trump’s behavior as the accepted standard for all elected officials. Statewide candidates like Healey, Minogue, and Shortsleeve could help raise the bar. If they want to earn the trust of voters, a great starting point would be to release their tax returns.
Editorials represent the views of the Boston Globe Editorial Board. Follow us @GlobeOpinion.