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

The title and the article are from NYTimes. I read about it originally from Reuters and they have not been able to verify the 100,000 documents in this investigation, so at this point you have to trust NYTimes that they did a good job adding numbers up.

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!

Anyways, the story is not just how much he inherited but also the lengths he and his family went through to defraud the government. I won't quote much, read the whole thing please. It certainly would explain his aversion to releasing tax returns to public.

President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, an investigation by The New York Times has found.

Mr. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help.

But The Times’s investigation, based on a vast trove of confidential tax returns and financial records, reveals that Mr. Trump received the equivalent today of at least $413 million from his father’s real estate empire, starting when he was a toddler and continuing to this day.

The findings are based on interviews with Fred Trump’s former employees and advisers and more than 100,000 pages of documents describing the inner workings and immense profitability of his empire. They include documents culled from public sources — mortgages and deeds, probate records, financial disclosure reports, regulatory records and civil court files.

The investigation also draws on tens of thousands of pages of confidential records — bank statements, financial audits, accounting ledgers, cash disbursement reports, invoices and canceled checks. Most notably, the documents include more than 200 tax returns from Fred Trump, his companies and various Trump partnerships and trusts.

New York Times


Hit piece?

Definitely.



Accurate?

What if it is?

originally posted by: Kharron
The title and the article are from NYTimes. I read about it originally from Reuters and they have not been able to verify the 100,000 documents in this investigation, so at this point you have to trust NYTimes that they did a good job adding numbers up.

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.

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!

Anyways, the story is not just how much he inherited but also the lengths he and his family went through to defraud the government. I won't quote much, read the whole thing please. It certainly would explain his aversion to releasing tax returns to public.

President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, an investigation by The New York Times has found.

Mr. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help.

But The Times’s investigation, based on a vast trove of confidential tax returns and financial records, reveals that Mr. Trump received the equivalent today of at least $413 million from his father’s real estate empire, starting when he was a toddler and continuing to this day.

The findings are based on interviews with Fred Trump’s former employees and advisers and more than 100,000 pages of documents describing the inner workings and immense profitability of his empire. They include documents culled from public sources — mortgages and deeds, probate records, financial disclosure reports, regulatory records and civil court files.

The investigation also draws on tens of thousands of pages of confidential records — bank statements, financial audits, accounting ledgers, cash disbursement reports, invoices and canceled checks. Most notably, the documents include more than 200 tax returns from Fred Trump, his companies and various Trump partnerships and trusts.

New York Times


Hit piece?

Definitely.



Accurate?

What if it is?

So rich people give their kids a head start... what else is new? The earth rotates around the sun?

originally posted by: Kharron
The title and the article are from NYTimes.

Well, that’s all for me. Thanks.

Just kidding, I’ll give ya another try...

so at this point you have to trust NYTimes

Yea, that’s it. Not interested. But thanks for sharing.




Eta: Sorry for being a jerk, I’m not shooting the messenger here. It’s just I don’t like fake news papers.

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

a reply to: Kharron

have not been able to verify the 100,000 documents in this investigation

Hit piece?

Definitely.

Then why did you post it?
That's rhetorical by the way, we know exactly why.

a reply to: Kharron

If true, then there should be consequences.

That being said, are we to believe that the NY Times is more effective at "investigations" than actual law enforcement agencies? So for almost 50 years Trump has been defrauding the government and gotten away with it scot-free?

Interesting.

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?

originally posted by: DAVID64
a reply to: Kharron

have not been able to verify the 100,000 documents in this investigation

Hit piece?

Definitely.

Then why did you post it?
That's rhetorical by the way, we know exactly why.

Buddy, ignore it all you want. Quote only parts of what I said. It's your life.

If you want to get at the truth, see what's going on behind it all, then just read.

There is a good chance this is all accurate and you know it. Read it or ignore it. It's your life, doesn't bother me one bit what you do.

a reply to: Kharron

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

Well, currently he's the President of The United States and doing a pretty kick ass job at it.

a reply to: Kharron

Oh please....You lot ignore the likes of Pelosi, Waters, Schumer, et al and then have the nerve to say crap like that.
Hypocrites.

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 reply to: DAVID64

He’s not a hypocrite. He TRULY and sincerely believes that the people he defend are innocent and good people.

This is sad.

a reply to: Kharron

Who cares. I voted for Trump knowing he was an exaggerater, a little bit con artist, a serial cheater. I knew he filled bankruptcy multiple times. I want sure he would make a good President, but I was absolutely sure he would flip the frickin apple cart over and raise some hell. It was basically a warning shot to the status quo. Kind of I have had enough. You politicians on both sides are lying sacks of cow crap. I figured Obama was such a #ty president that there couldn't be anyone worse so what do I have to lose. Turns out Trump makes one helluva President. Guess I got lucky.

a reply to: Kharron

Who cares. I voted for Trump knowing he was an exaggerater, a little bit con artist, a serial cheater. I knew he filled bankruptcy multiple times. I want sure he would make a good President, but I was absolutely sure he would flip the frickin apple cart over and raise some hell. It was basically a warning shot to the status quo. Kind of I have had enough. You politicians on both sides are lying sacks of cow crap. I figured Obama was such a #ty president that there couldn't be anyone worse so what do I have to lose. Turns out Trump makes one helluva President. Guess I got lucky.

...in today’s dollars...

There's sound methodology right there.

OMG.

How about we determine income tax in the same way? Tell me how much you make, I'll calculate the future dollar value, and tax you on that amount, not the amount you actually received.

Sound fair?

a reply to: Kharron

Additionally,
Are we to believe that Obama's IRS didn't turn Trump's tax records inside out looking for anything to give Clinton an edge during the 2016 campaign?

If there was anything there, they would have "leaked" it.

Hmmm. He "engaged in suspect tax schemes"? Isn't everyone engaging in suspect tax schemes?

a reply to: Kharron

I think he did this while raping porn stars with Kavanaugh.

Send that into the NYT!



Awesome!

Accurate? What if it is?

and if it is accurate, they need to go after every other politician, current and former - including the bummers, #ons, bushes EVERY ONE.

This is BS to pick n choose who goes down for crap when they have all been doing it for freaking years.

a reply to: Kharron

Trump himself never went bankrupt. A few of his businesses did. It happens quite often. Thought I'd clear that up.