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

[Anonymous]

Well, from this paragraph alone, it seems Trump and his family owe the nation 497.8 million dollars plus penalty fees and decades of interest.

Think of how many homeless vets that could house and feed.

These maneuvers met with little resistance from the Internal Revenue Service, The Times found. The president’s parents, Fred and Mary Trump, transferred well over $1 billion in wealth to their children, which could have produced a tax bill of at least $550 million under the 55 percent tax rate then imposed on gifts and inheritances.

The Trumps paid a total of $52.2 million, or about 5 percent, tax records show.

[Anonymous]

Anonymous wrote:Well, from this paragraph alone, it seems Trump and his family owe the nation 497.8 million dollars plus penalty fees and decades of interest.

Think of how many homeless vets that could house and feed.

These maneuvers met with little resistance from the Internal Revenue Service, The Times found. The president’s parents, Fred and Mary Trump, transferred well over $1 billion in wealth to their children, which could have produced a tax bill of at least $550 million under the 55 percent tax rate then imposed on gifts and inheritances.

The Trumps paid a total of $52.2 million, or about 5 percent, tax records show.

Think how much healthcare that could provide.

[Anonymous]

This is quite the quote.

Must be nice to have everything handed to you on a silver platter. I guess it's a blow to Trump's ego for him to think daddy gave him everything he has.

Fred Trump was relentless and creative in finding ways to channel this wealth to his children. He made Donald not just his salaried employee but also his property manager, landlord, banker and consultant. He gave him loan after loan, many never repaid. He provided money for his car, money for his employees, money to buy stocks, money for his first Manhattan offices and money to renovate those offices. He gave him three trust funds. He gave him shares in multiple partnerships. He gave him $10,000 Christmas checks. He gave him laundry revenue from his buildings.

Much of his giving was structured to sidestep gift and inheritance taxes using methods tax experts described to The Times as improper or possibly illegal. Although Fred Trump became wealthy with help from federal housing subsidies, he insisted that it was manifestly unfair for the government to tax his fortune as it passed to his children. When he was in his 80s and beginning to slide into dementia, evading gift and estate taxes became a family affair, with Donald Trump playing a crucial role, interviews and newly obtained documents show.

[Anonymous]

I know someone already posted this paragraph, but it's worth reading again.

I mean, these people are crooks, plain and simple. It's genetic, hard-wired. They have absolutely no moral compass, not a single one of the Trumps.

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.

[Anonymous]

He tried to get his father's will rewritten to benefit himself!!!!!

Geezus, you Trumpsters. I want one of you to come here and defend this. Tell us why you still admire him.

If this doesn't convince the majority of people he's a crook then I fear we've already started well along the path to America's downfall.

All told, The Times documented 295 streams of revenue that Fred Trump created over five decades to enrich his son. In most cases his four other children benefited equally. But over time, as Donald Trump careened from one financial disaster to the next, his father found ways to give him substantially more money, records show. Even so, in 1990, according to previously secret depositions, Mr. Trump tried to have his father’s will rewritten in a way that Fred Trump, alarmed and angered, feared could result in his empire’s being used to bail out his son’s failing businesses.

[Anonymous]

Anonymous wrote:He tried to get his father's will rewritten to benefit himself!!!!!

Geezus, you Trumpsters. I want one of you to come here and defend this. Tell us why you still admire him.

If this doesn't convince the majority of people he's a crook then I fear we've already started well along the path to America's downfall.

All told, The Times documented 295 streams of revenue that Fred Trump created over five decades to enrich his son. In most cases his four other children benefited equally. But over time, as Donald Trump careened from one financial disaster to the next, his father found ways to give him substantially more money, records show. Even so, in 1990, according to previously secret depositions, Mr. Trump tried to have his father’s will rewritten in a way that Fred Trump, alarmed and angered, feared could result in his empire’s being used to bail out his son’s failing businesses.

They have always known he was a crook. And they have never cared.

Deplorables love deplorables.

[Anonymous]

Anonymous wrote:He tried to get his father's will rewritten to benefit himself!!!!!

Geezus, you Trumpsters. I want one of you to come here and defend this. Tell us why you still admire him.

If this doesn't convince the majority of people he's a crook then I fear we've already started well along the path to America's downfall.

All told, The Times documented 295 streams of revenue that Fred Trump created over five decades to enrich his son. In most cases his four other children benefited equally. But over time, as Donald Trump careened from one financial disaster to the next, his father found ways to give him substantially more money, records show. Even so, in 1990, according to previously secret depositions, Mr. Trump tried to have his father’s will rewritten in a way that Fred Trump, alarmed and angered, feared could result in his empire’s being used to bail out his son’s failing businesses.

To be fair, this happens a lot, in families far less wealthy. When an elder parent starts getting ill, you'll see either the nearest relative (sibling, child or niece or nephew) hanging out a lot at the house or the daughter who lives in California is suddenly soooooo worried about dad and driving him to doctor's appointments for the last year of his life. People get soooooooooo sketchy when inheritance is on the line. Why? Because aggressiveness works! Donald was very close to controlling it all. Very few dying senile seniors have a federal judge for a daughter who can save the day.

[Anonymous]

I hate that this story is getting buried under the Kavanaugh s*itshow.

[Anonymous]

Anonymous wrote:

Anonymous wrote:He tried to get his father's will rewritten to benefit himself!!!!!

Geezus, you Trumpsters. I want one of you to come here and defend this. Tell us why you still admire him.

If this doesn't convince the majority of people he's a crook then I fear we've already started well along the path to America's downfall.

All told, The Times documented 295 streams of revenue that Fred Trump created over five decades to enrich his son. In most cases his four other children benefited equally. But over time, as Donald Trump careened from one financial disaster to the next, his father found ways to give him substantially more money, records show. Even so, in 1990, according to previously secret depositions, Mr. Trump tried to have his father’s will rewritten in a way that Fred Trump, alarmed and angered, feared could result in his empire’s being used to bail out his son’s failing businesses.

To be fair, this happens a lot, in families far less wealthy. When an elder parent starts getting ill, you'll see either the nearest relative (sibling, child or niece or nephew) hanging out a lot at the house or the daughter who lives in California is suddenly soooooo worried about dad and driving him to doctor's appointments for the last year of his life. People get soooooooooo sketchy when inheritance is on the line. Why? Because aggressiveness works! Donald was very close to controlling it all. Very few dying senile seniors have a federal judge for a daughter who can save the day.

+1. I'm a lawyer with a bit of an estate practice. Families often get terrible when there is an inheritance involved. Barely noticed fault lines suddenly come into sharp relief. It becomes a proxy war for past grievances. And, of course, a lot of folks are just greedy.

[Anonymous]

Anonymous wrote:I hate that this story is getting buried under the Kavanaugh s*itshow.

Let's bump it up every day. It needs to be in the news and constantly.

We've got a criminal running the US and corroding our the fabric of our society. Trump is more corrosive than sulfuric acid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hate that this story is getting buried under the Kavanaugh s*itshow.

Let's bump it up every day. It needs to be in the news and constantly.

We've got a criminal running the US and corroding our the fabric of our society. Trump is more corrosive than sulfuric acid.

And yet his legions don’t care. They think Hilary was so awful and evil based on cooked up conspiracy theories that they ignore the obvious and proved crimes of Trump. He’s not just a criminal, he’s “their” criminal. Makes them feel good about being unethical, immoral, criminal losers themselves.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is telling that so few Trumpsters have clicked on this thread.

They can't come screaming about NO CORROBORATING EVIDENCE. They still don't care, of course. Owning the libs is the alpha and the omega of the modern conservative.

Most of us do not care because the IRS did not care 30 years ago, and in every audit since. Have you ever thought, maybe it's not true?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is telling that so few Trumpsters have clicked on this thread.

They can't come screaming about NO CORROBORATING EVIDENCE. They still don't care, of course. Owning the libs is the alpha and the omega of the modern conservative.

Most of us do not care because the IRS did not care 30 years ago, and in every audit since. Have you ever thought, maybe it's not true?

Or maybe, the IRS didn’t care to spend all of its resources at the time fighting these vultures? Trump’s ridiculousness with taxing authorities and creative property valuations is long running and well established. The question is, why don’t Trumpers care?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is telling that so few Trumpsters have clicked on this thread.

They can't come screaming about NO CORROBORATING EVIDENCE. They still don't care, of course. Owning the libs is the alpha and the omega of the modern conservative.

Most of us do not care because the IRS did not care 30 years ago, and in every audit since. Have you ever thought, maybe it's not true?

No, because I read the entire article and many of the corroborating documents. Did you?

Nearly 500 million dollars the Trump family cheated the US Treasury out of, plus interest accrued over decades. Do you know how many homeless vets that would house? Shameless.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He tried to get his father's will rewritten to benefit himself!!!!!

Geezus, you Trumpsters. I want one of you to come here and defend this. Tell us why you still admire him.

If this doesn't convince the majority of people he's a crook then I fear we've already started well along the path to America's downfall.

All told, The Times documented 295 streams of revenue that Fred Trump created over five decades to enrich his son. In most cases his four other children benefited equally. But over time, as Donald Trump careened from one financial disaster to the next, his father found ways to give him substantially more money, records show. Even so, in 1990, according to previously secret depositions, Mr. Trump tried to have his father’s will rewritten in a way that Fred Trump, alarmed and angered, feared could result in his empire’s being used to bail out his son’s failing businesses.

To be fair, this happens a lot, in families far less wealthy. When an elder parent starts getting ill, you'll see either the nearest relative (sibling, child or niece or nephew) hanging out a lot at the house or the daughter who lives in California is suddenly soooooo worried about dad and driving him to doctor's appointments for the last year of his life. People get soooooooooo sketchy when inheritance is on the line. Why? Because aggressiveness works! Donald was very close to controlling it all. Very few dying senile seniors have a federal judge for a daughter who can save the day.

+1. I'm a lawyer with a bit of an estate practice. Families often get terrible when there is an inheritance involved. Barely noticed fault lines suddenly come into sharp relief. It becomes a proxy war for past grievances. And, of course, a lot of folks are just greedy.

It must be hard to do that and maintain faith in humanity.