Blockbuster NY Times Investigation - Trump's Tax Schemes To Gain Riches From His Father

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm starting to have an understanding of how the French Revolution got out of hand.

+1

"Let them eat cake..."

[Anonymous]

Anonymous wrote:

Anonymous wrote:Glad to see this article, but where was it in 2015/2016? Our collective media has done a major disservice, between the Apprentice and the personality worship, the lack of analysis and actual hard news has been a major detriment to our society.

I know -- all this economic growth is just killing me.

Please, stop all this winning! I cannot take any more.

Where’s my raise and why is my insurance coverage getting more expensive with fewer benefits?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't believe the Dems and the media are still trying to dig up stuff like this. It doesn't matter. No one cares. Everyone knows he is a con artist and not nearly as successful as he says he is.

No, not everyone knows this... his supporters don't know this. They think he's a great business man and that's why they voted for him. Some might believe this, but then they are just greedy aholes who have no integrity. So.. either Trumpsters are dumb to fall for this con artist, or know he's a con artist and still voted for him because they were greedy.

I actually think that his supporters probably don't care if it's true. My impression is that the people who really support him - his base, not the rich guys who thought he'd help them get richer - think that everyone is a liar and a fraud. They think that Trump is smart enough to get away with it. They like sticking it to the system. They think taxation is theft anyway. This probably makes them like him more, to the extent it changes their feelings at all - which I doubt it will.

Do you think wealthy families like Kerry-Heinz do this stuff above board?

John Kerry released all his tax returns when he ran for President.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't believe the Dems and the media are still trying to dig up stuff like this. It doesn't matter. No one cares. Everyone knows he is a con artist and not nearly as successful as he says he is.

No, not everyone knows this... his supporters don't know this. They think he's a great business man and that's why they voted for him. Some might believe this, but then they are just greedy aholes who have no integrity. So.. either Trumpsters are dumb to fall for this con artist, or know he's a con artist and still voted for him because they were greedy.

I actually think that his supporters probably don't care if it's true. My impression is that the people who really support him - his base, not the rich guys who thought he'd help them get richer - think that everyone is a liar and a fraud. They think that Trump is smart enough to get away with it. They like sticking it to the system. They think taxation is theft anyway. This probably makes them like him more, to the extent it changes their feelings at all - which I doubt it will.

Do you think wealthy families like Kerry-Heinz do this stuff above board?

John Kerry released all his tax returns when he ran for President.

You don't know much about the tax code, do you? Question stands.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Time to put Trump's dad in jail for legally minimizing taxes

This is the new way, makeup 30 year old allegations and now even on dead people

Donald Trump is still very much alive and appears to have been very much a part and a beneficiary of tax fraud. You might wish it weren’t a big deal, but it most certainly is.

Yeah, agreed. White collar criminal defense attorney here. I'm working on a case with some strong parallels to this one. The no-show jobs from a young age, submission of low appraisals to tax authorities, and the sham business that was marking up legitimate expenses and skimming would all give me a lot of heartburn. None of these things are legal, and they are absolutely things the IRS prosecutes criminally. The statute of limitations will limit what they can bring criminal charges on (and practically, so will the fact that Trump has authority over the IRS). They may be able to back into some of it if there's continuing conduct (NOLs carrying over from year to year; questionable basis calculations; etc.), but I'm not sure that's likely with the scheme laid out in the NYTimes reporting.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Time to put Trump's dad in jail for legally minimizing taxes

This is the new way, makeup 30 year old allegations and now even on dead people

Donald Trump is still very much alive and appears to have been very much a part and a beneficiary of tax fraud. You might wish it weren’t a big deal, but it most certainly is.

Yeah, agreed. White collar criminal defense attorney here. I'm working on a case with some strong parallels to this one. The no-show jobs from a young age, submission of low appraisals to tax authorities, and the sham business that was marking up legitimate expenses and skimming would all give me a lot of heartburn. None of these things are legal, and they are absolutely things the IRS prosecutes criminally. The statute of limitations will limit what they can bring criminal charges on (and practically, so will the fact that Trump has authority over the IRS). They may be able to back into some of it if there's continuing conduct (NOLs carrying over from year to year; questionable basis calculations; etc.), but I'm not sure that's likely with the scheme laid out in the NYTimes reporting.

I have long thought that Fred and Mary Trump were responsible for Trump's narcissistic personality disorder and the fact that Trump was able to "stay afloat" in spite of it. Now we know it is true. They were con artists and frauds as is the whole family. His sister is a Federal Judge. She's drawing a Federal salary after she and and her family ripped the tax payers off. It's all tainted and I hope that the Trump name is now associated w/fraud and grift. His siblings and immediate family all know who he is and they unleashed him on America. The only ones that are clean are the minor children (and maybe Tiffany).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Time to put Trump's dad in jail for legally minimizing taxes

This is the new way, makeup 30 year old allegations and now even on dead people

Donald Trump is still very much alive and appears to have been very much a part and a beneficiary of tax fraud. You might wish it weren’t a big deal, but it most certainly is.

Yeah, agreed. White collar criminal defense attorney here. I'm working on a case with some strong parallels to this one. The no-show jobs from a young age, submission of low appraisals to tax authorities, and the sham business that was marking up legitimate expenses and skimming would all give me a lot of heartburn. None of these things are legal, and they are absolutely things the IRS prosecutes criminally. The statute of limitations will limit what they can bring criminal charges on (and practically, so will the fact that Trump has authority over the IRS). They may be able to back into some of it if there's continuing conduct (NOLs carrying over from year to year; questionable basis calculations; etc.), but I'm not sure that's likely with the scheme laid out in the NYTimes reporting.

Yes.. paying a child *that* much money should've been a red flag.

By age 3, Mr. Trump was earning $200,000 a year in today’s dollars from his father’s empire. He was a millionaire by age 8.

Some other tidbits

Under I.R.S. rules, selling shares worth $15.5 million to your son for $10,000 is tantamount to giving him a $15.49 million taxable gift. Fred Trump reported no such gift.

The most overt fraud was All County Building Supply & Maintenance, a company formed by the Trump family in 1992. All County’s ostensible purpose was to be the purchasing agent for Fred Trump’s buildings, buying everything from boilers to cleaning supplies. It did no such thing, records and interviews show. Instead All County siphoned millions of dollars from Fred Trump’s empire by simply marking up purchases already made by his employees. Those millions, effectively untaxed gifts, then flowed to All County’s owners — Donald Trump, his siblings and a cousin. Fred Trump then used the padded All County receipts to justify bigger rent increases for thousands of tenants.

This is almost like money laundering, just within the family rather than from a criminal enterprise (though some may argue that whole family is a criminal enterprise).

Dang, this family is truly deplorable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:are they going to dig up trumps dad and put him on the stand

He hired Weisselberg. Trump had Weisselberg onhis payroll up till this year. Weisselberg may have flipped.

Should be fun.

Weisselberg was granted immunity.
https://www.cnn.com/2018/08/24/politics/allen-weisselberg-trump/index.html

[Anonymous]

Anonymous wrote:So now what? Who is going to pursue charges? Who is going to file a civil suit? When will this man stop getting away with everything?

New York state tax department reviewing fraud allegations involving Trump in NYT article
https://www.cnbc.com/2018/10/02/new-york-state-tax-department-reviewing-fraud-allegations-involving-trump-in-nyt-article.html

New York City Is ‘Looking to Recoup’ Any Unpaid Trump Taxes, de Blasio Says
https://www.bloomberg.com/news/articles/2018-10-03/nyc-is-looking-to-recoup-any-unpaid-trump-taxes-mayor-says

[Anonymous]

Interesting background on how the story was developed. One initial lead was from a search for "mortgage receivable" and "Trump" which coughed up a disclosure form from (inactive senior) Third Circuit Court of Appeals Judge Maryanne (Trump) Barry.

She seems to have been a beneficiary of the "All County Supply & Maintenance" scheme wherein All County, owned by the Trump kids, would purchase supplies for Fred's buildings, mark up the bill, and then bill Fred. In that way, Fred could transfer money to his kids without paying estate taxes.

https://www.nytimes.com/2018/10/02/insider/donald-trump-fred-tax-schemes-wealth.html

[Anonymous]

The Trump family's tax fraudapalooza came to light via financial disclosures made by Trump's sister, the federal judge.
https://www.thedailybeast.com/filing-by-trumps-federal-judge-sister-led-to-nyt-tax-fraud-expose

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't believe the Dems and the media are still trying to dig up stuff like this. It doesn't matter. No one cares. Everyone knows he is a con artist and not nearly as successful as he says he is.

No, not everyone knows this... his supporters don't know this. They think he's a great business man and that's why they voted for him. Some might believe this, but then they are just greedy aholes who have no integrity. So.. either Trumpsters are dumb to fall for this con artist, or know he's a con artist and still voted for him because they were greedy.

I actually think that his supporters probably don't care if it's true. My impression is that the people who really support him - his base, not the rich guys who thought he'd help them get richer - think that everyone is a liar and a fraud. They think that Trump is smart enough to get away with it. They like sticking it to the system. They think taxation is theft anyway. This probably makes them like him more, to the extent it changes their feelings at all - which I doubt it will.

Do you think wealthy families like Kerry-Heinz do this stuff above board?

John Kerry released all his tax returns when he ran for President.

You don't know much about the tax code, do you? Question stands.

So John Kerry's the Russian bots' new favorite guy to stir up anger and dissent. Nice. Been a while since we heard his name.

[Anonymous]

Anonymous wrote:Interesting background on how the story was developed. One initial lead was from a search for "mortgage receivable" and "Trump" which coughed up a disclosure form from (inactive senior) Third Circuit Court of Appeals Judge Maryanne (Trump) Barry.

She seems to have been a beneficiary of the "All County Supply & Maintenance" scheme wherein All County, owned by the Trump kids, would purchase supplies for Fred's buildings, mark up the bill, and then bill Fred. In that way, Fred could transfer money to his kids without paying estate taxes.

https://www.nytimes.com/2018/10/02/insider/donald-trump-fred-tax-schemes-wealth.html

Let her go down, too. Let them all go down. At this point I want heads on stakes. I hate these grifting thieves so much.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't believe the Dems and the media are still trying to dig up stuff like this. It doesn't matter. No one cares. Everyone knows he is a con artist and not nearly as successful as he says he is.

No, not everyone knows this... his supporters don't know this. They think he's a great business man and that's why they voted for him. Some might believe this, but then they are just greedy aholes who have no integrity. So.. either Trumpsters are dumb to fall for this con artist, or know he's a con artist and still voted for him because they were greedy.

I actually think that his supporters probably don't care if it's true. My impression is that the people who really support him - his base, not the rich guys who thought he'd help them get richer - think that everyone is a liar and a fraud. They think that Trump is smart enough to get away with it. They like sticking it to the system. They think taxation is theft anyway. This probably makes them like him more, to the extent it changes their feelings at all - which I doubt it will.

Do you think wealthy families like Kerry-Heinz do this stuff above board?

John Kerry released all his tax returns when he ran for President.

You don't know much about the tax code, do you? Question stands.

So John Kerry's the Russian bots' new favorite guy to stir up anger and dissent. Nice. Been a while since we heard his name.

Let’s not forget that the Heinz company was not built with federally subsidized loans, as Fred Trump’s empire was. Heinz actually makes a product that is sold in a competitive market without the aid of the government. This is unlike Trump who obviously grifter all the way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't believe the Dems and the media are still trying to dig up stuff like this. It doesn't matter. No one cares. Everyone knows he is a con artist and not nearly as successful as he says he is.

No, not everyone knows this... his supporters don't know this. They think he's a great business man and that's why they voted for him. Some might believe this, but then they are just greedy aholes who have no integrity. So.. either Trumpsters are dumb to fall for this con artist, or know he's a con artist and still voted for him because they were greedy.

I actually think that his supporters probably don't care if it's true. My impression is that the people who really support him - his base, not the rich guys who thought he'd help them get richer - think that everyone is a liar and a fraud. They think that Trump is smart enough to get away with it. They like sticking it to the system. They think taxation is theft anyway. This probably makes them like him more, to the extent it changes their feelings at all - which I doubt it will.

Do you think wealthy families like Kerry-Heinz do this stuff above board?

John Kerry released all his tax returns when he ran for President.

You don't know much about the tax code, do you? Question stands.

What more did you want him to do? It is certainly more than Trump has done to show transparency.