Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father

Actually I’m very glad that these salacious leftists reports come out on Trump and others. I hope that they continue thru Election Day. Best get out the vote drive ever for conservatives.

Keep up the good work Dims! 😁😁😁

Dp

a reply to: whywhynot

This is Brutally True , Thanks For the Heads Up Man ........

originally posted by: six67seven

originally posted by: Fallingdown
Trump was audited every year for a decade. Don’t you think they would’ve found something if there was anything there ?

www.dailymail.co.uk...

.

Edit;

“ trust the New York Times “ lol

Audited for a decade... sure, but that was back when Trump was a democrat...

And now that he is a republican, by God, we need to open at least 18 investigations for various political reasons and another 7-10 audits!!!

DJ Trump #WalkedAway before it was cool!!

A fine is a tax for doing something wrong.

A tax is a fine for doing something right

Bottom line is you just can’t win .

Assuming NYT has the actual documents its hard to fake this, that being said..I dont think will come as huge news or a shock to most people, because I think the vast majority of people, even his supporters already suspected or knew this probably went on at some point. It doesnt shock anyone, so I doubt it'll last very long in the news.

a reply to: Kharron

It says he received $413m in TODAYS money - going all the way back to the money he received in investments from his father when he was 3 yrs old.
If he's worth $10bn in today's money, he's done well.
There is no claim of illegality.

Seems the NYT is trying to change the narrative from the utter snip show the Dems have created, which is swinging the polls to the Republicans a month out from the mid terms.

By the way, if they really are using his private tax returns, the NYT have some answering to do.

a reply to: Kharron


Why isn't it a crime to receive confidential or stolen documents? How come the New York Times is not investigated for receiving stolen property?

originally posted by: UKTruth
a reply to: Kharron

It says he received $413m in TODAYS money - going all the way back to the money he received in investments from his father when he was 3 yrs old.
If he's worth $10bn in today's money, he's done well.
There is no claim of illegality.

Seems the NYT is trying to change the narrative from the utter snip show the Dems have created, which is swinging the polls to the Republicans a month out from the mid terms.

By the way, if they really are using his private tax returns, the NYT have some answering to do.

Nothing Wrong with a Man Taking Care of his Family Using His Wits . God Did Bless Capitalism , but Only If the Proponents of it Gave Some Back to Their Fellow Man . Cannot Blame Him for his Creation of Man as a Fallible Being , but I am Sure He Had His Reasons............)

There is the principle of income tax averaging within the US tax system.
Not much to tax when you go from $400 million into bankruptcy from unlucky gambling.
Everyone in real estate got caught, but maybe it humbled Trump and he has learned his lesson concerning leveraging.

Not going to defend someone that I do not know the details of put I would point out a few things.

Putting assets into different types of trusts is extremely common strategy for family wealth preservation from one generation to the next. So I am suspect of NYT claim without them providing more details.

If you have good attorneys and CPA's they can seriously reduce your tax liability. They get paid to look for all legal means to do so and the wealthy look to reduce their tax liability by all legal means just like most taxpayers do.

Honestly, there are so many deductions and legal strategies to ensure you only pay taxes on what you required to I can't go into them here.

Article is a hit piece that does not show details and NYT has long lost their credibility as an honest news provider.

THey can try to rewrite history all they want but he has been an American icon and now is POTUS. Neither of which the writer of the hit piece will ever be.

This latest investigation reviewed old tax documents dating back to his dad, Fred, and other family members, shows that the number that DJT inherited and started with was $413 million.a reply to: Kharron

Text
Nah...The article in todays dollars it would 413 million...Trump says he got a cool million loan from his dad for a business startup...I see no reason to doubt him...The rest of the money came later from his share of the family inheritance...

There is no there, there...You have to realize it the NY slimes doing the reporting...

a reply to: Cauliflower

Trump never went totally bankrupt.

Of the hundreds of companies that he started, a few small ones declared bankruptcy. It was required to pay off stockholders. It is a business transaction.
The rest of his companies were successful - many were extremely successful.

Keep in mind - At any given time he had many different companies going. He never went totally broke. He never personally declared bankruptcy.

Trump is truly a swindler and crook, we all know this.
The problem is the poor people cult-like adorers of Trump, many on this forum, who are so duped by this wretched con man.

They are responsible for the long years of the super rich, culminating in a crook like Trump being elected and the fact that this country has become an oligarchy.

Just think the IRS let a swindler like Trump get away all these years with this and small people here adore him yet the same IRS will go after you for 500 bucks.

That's the country we have made because the dupes adore people like Trump

THEY HAVE GIVEN POWER TO THE BEAST

AND THE BEAST WILL DEVOUR US

PRETTY SOON

originally posted by: Kharron
a reply to: Edumakated

You accepted that very easily.

The whole premise behind this imaginary persona DJT has created is that he is a genius, that he started with nothing and that he now has $10b he says.

As truth comes out, we know that he was fed with a silver spoon, started with money that is unimaginable to the rest of us, managed to go bankrupt a bunch of times, defrauded the government and the American people at various times and through various schemes and then lied to everyone about it ALL during the candidacy.

The truth ends up being he would have been a greater genius and a wealthier man today had he just left the money alone in the bank, without touching it.

So if he is not this money/business genius -- what is he?

While the evidence there contains a lot of new material, the accusations are hardly new. New York is attempting to fight him over the issue of emoluments and there's a whole lot of people who have sued him or are trying to sue him for nonpayment and underpayment.

If someone's ethics say it's no problem to cheat others of payment under the guise of "bargaining" then it's no surprise if their tax records are a mess.

BTW, I think that the "ten years of investigation" by the IRS may be returns for only one or two years. Not ten years worth of stuff.

So Trump says he just got 1 million from his father.


It turns out he had 50 million when he was eight years old.


Apparently, his father gave him millions

originally posted by: Willtell
So Trump says he just got 1 million from his father.


It turns out he had 50 million when he was eight years old.


Apparently, his father gave him millions

...as is every parent's dream to be able to do.

a reply to: Willtell_javascript:quote()

Trump is truly a swindler and crook, we all know this.

We all know it ?
I dont.
Really ?
Proof ?
Or else that is a slanderous statement...
Started with "We all know this"

originally posted by: Kharron
Well, at least you guys are going on the record that you are ok with crime as long as your guy does it. Wonderful.

Just imagine if we had a REAL genius in the office, someone who truly made an international company. Let's take Jeff Bezos. Started with nada, literally working out of a garage, and is now worth a 100 times what Trump is.

And then look at this great self promoter, who started with an empire and managed to triple it, or quadruple it -- over 50 years.

Imagine what a real genius could have done with that money. Imagine Bezos starting with half a billion, 50 years ago! Now imagine if we had a real international businessman, who understands trade and agreements better than DJT does, who didn't just fall into money but learned how to get there.

That's what we need to look at the next time around -- not hot air and self boasting.

Jeff Bezo's was a hedge fund guy before starting Amazon. His parents gave him $500k as an early investor as well... which is about $860,000 in today's dollars. Hardly digging in the sofa cushions for funding kind of money...

The reality is that a significant number of entrepreneurs come from privileged backgrounds. Bill Gates parents were well off. Michael Dell.

People work hard all their lives to hopefully give their offspring some advantages they may not have had... life isn't fair. Every parent wants to give their child a leg up.

originally posted by: Kharron

People have been guessing that despite what Trump says when he sings his own praises, he did not start with a small loan from his father and he built everything himself. We know he had all the right connections to all the right people in power, and there were guesses that he started with between $100m and $200 million, back in the 70s.

This latest investigation reviewed old tax documents dating back to his dad, Fred, and other family members, shows that the number that DJT inherited and started with was $413 million. Back in 70s and 80s.

I think if he left it in the bank and let it accumulate interest for all these five decades, he would have avoided six bankruptcies and ended up with more money. Nearly half a billion in the 70s is sooo much money!


Hit piece?

Definitely.



Accurate?

What if it is?

So lets look at this... If Trump got a loan from his dad that means his dad was still alive...right? His dad died in 1999, so money from his dad happened long long time after that since his loan(s) was sometime in in early/mid 1970s. It is estimated that maybe a couple of loans came out to 10 to 15 million.

March 1988: The New York Times says Trump is worth $3 billion when he buys the Plaza Hotel in Manhattan for $390 million.
October 1988: Trump estimated to be worth $1 billion by Forbes magazine.
July 1989: Trump's net worth estimated to be $1.5 billion--and increase of $500 million in 10 months. He makes Forbes' World Billionaires list for the first time.

So in 1989 he makes the billionaire list and in today's dollars that is about 5 billion plus (5000 million+). If he got 430 million (today's dollars) from daddy inheritances in 2000ish that is about 215 million total back then that he didn't get all at once. This doesn't sound like some kind of kick start to become a billionaire thing as more of a gee I got an extra 100 million here and there thing...

We can all agree Trump is a showman at heart and he talks like a showman but in the end I would say he did rather well long before daddy's Christmas bonus...lol

Once again who cares... This sounds a lot like Rachel Maddow's "Trump's tax return DISCOVERY!!!" where in the end he paid like 35 million...lol geez

Not sure where the 430 million in the 70s comes from other than NY times being very careful as to how they word things...hell it sells, and that is all it matters to them, but there are 10,000s millions of people on the left now that think Trump got 430 million in the 70s...lol

originally posted by: Willtell
So Trump says he just got 1 million from his father.


It turns out he had 50 million when he was eight years old.


Apparently, his father gave him millions

I don't think this is even close to the truth, but if I gave you 50k can you turn it into 5000K?