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

What a garbage thread based on garbage reporting posted by one of the usuals.

Good job dissecting this nonsense everyone.

Next up tomorrow?

Washington Post reports that Trump yelled at the sky this confirming long held beliefs that Trump is anti-Atmosphere.

Oh and racist babble babble.

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

That's a lot more than I was earning at age 3.

No wonder my parents were always disappointed in me.

Reading what this guy and that family did in these sleazy and illegal deals should have Trump call his next reality show:

Swindlers List!

The Trump crime family has been exposed.

Again

The New York Times has gone all in on Trump. This will be the defining moment to prove once and for all if they are fake news or if Trump is an outright criminal.

The New York Times claims they have researched this story for the past 18 months and in the first paragraph accuse Trump of committing tax dodges and outright fraud.

Which if true, means Trump himself is a fraud because his story of being a self-made man completely falls apart and that he committed multiple felonies.

However, if the New York Times is fake news and is just running this story for a political agenda then Trump will literally own them after he wins the defamation case.

It will be interesting to see how he reacts in the next few days. He has been very quick to initiate lawsuits in the past when he claims defamation so I think we can tell a good deal of the validity of this story based on whether or not he filed suit on the coming days.

a reply to: BlackJackal

Trump I doubt sues since then he has to expose himself, something he won’t do.

Don’t you think the NYT has lawyers

Trump is exposed as the fraud that he is

In breathtaking detail and with exacting precision, The New York Times has confirmed that for much of his life, though he claimed to be a brilliant businessman, Trump was benefiting from a rigged system, which his family manipulated to transfer enormous wealth from his father to him. This truth, long suspected by those who have peered into Trump's finances, included questionable and potentially fraudulent practices that were used so the Trump clan could avoid paying the kind of taxes ordinary people pay every day.
And yet, the Times story is quite persuasive. According to the Times, by age 3, Trump was receiving $200,000 per year in today's dollars from his father's operations. By 8, he was a millionaire. And his wealth only grew from there.

Trump lied for years saying his old man just gave him a million dollars

Overall, the picture the Times paints comports with much that could be surmised about the family over the years. By the 1960s, his father, Fred, was one of the wealthiest men in New York. His financial prowess backed his son's first big project, a hotel renovation at Grand Central Terminal, and his signature Trump Tower on Fifth Avenue. Although the back story about the hotel project and Trump Tower were well established, the facts assembled by the Times show Donald Trump used deception, not just in carrying out those projects, but throughout the course of his career.

So in reality, as we who haven’t been deceived by Trump always knew, he ends up the average rich man son who has gained much of his wealth by massive illegal tax evasion and fraudulent, sleazy and illegal business schemes.

Now we know why he won't release his tax returns

Trump Engaged in Suspect Tax Schemes as He Reaped Riches

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. Much of this money came to Mr. Trump because he helped his parents dodge taxes. He and his siblings set up a sham corporation to disguise millions of dollars in gifts from their parents, records and interviews show. Records indicate that Mr. Trump helped his father take improper tax deductions worth millions more. He also helped formulate a strategy to undervalue his parents’ real estate holdings by hundreds of millions of dollars on tax returns, sharply reducing the tax bill when those properties were transferred to him and his siblings.

These schemes were massive.

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.

This is not only an expose of Trump's sleaze but an indictment on this society and how we let the rich get away with so much.

The IRS goes after the little guys and lets sleazeballs like the Trump get away with massive fraud and what amounts to the theft of the American taxpayer

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. By the time he was 17, his father had given him part ownership of a 52-unit apartment building. Soon after Mr. Trump graduated from college, he was receiving the equivalent of $1 million a year from his father. The money increased with the years, to more than $5 million annually in his 40s and 50s. Fred Trump’s real estate empire was not just scores of apartment buildings. It was also a mountain of cash, tens of millions of dollars in profits building up inside his businesses, banking records show. In one six-year span, from 1988 through 1993, Fred Trump reported $109.7 million in total income, now equivalent to $210.7 million. It was not unusual for tens of millions in Treasury bills and certificates of deposit to flow through his personal bank accounts each month.

Here is one of the schemes

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.

www.nytimes.com...

Thank you NYTs, CNN and libtards everywhere! Y’all have done so much to insure conservative voter turnout and you just keep giving.

This is such a gift, loving it.

"An uber-rich multi-billionaire business tycoon may have used some tax loopholes"

You don't say.

Cheated on his wife. Dodged a bit of tax. Used some foul language. Offended some people.

And?

Look at the alternative. I think in this two-horse race there's actually a positive and a negative, and it's very very clear which is which.

This guy is falling a little bit short of some of our expectations but he's doing better than any other in the last generation or two. And he's also failed to do ANY of the white-supremist nazi death stuff that the libs had him pegged for.

Which is why "whywhynot's" post above me is so true. He's been so good at what he's been doing. He's definitely making headway. Against a RELENTLESS barrage of hate and vitriol from literally EVERY place you look.

And yet? Winning! Why?

Even if it is provern beyond a shadow of a doubt that he never paid one cent of tax in his life, he's still going to win if he runs in 2020. Because look at the dems.

a reply to: Breakthestreak

This guy is falling a little bit short of some of our expectations but he's doing better than any other in the last generation or two.

No.

But I think you may be putting too much glory on a president. In any case.

a reply to: BlackJackal

Indeed - they accused him of tax dodging and outright fraud, yet nothing in their article shows anything illegal.
Their story is about how Trump played the tax system in place to his family's benefit. Doesn't every business do that? You stick to the law, get advice from a tax accountant and aim to pay as little as possible. If a business does NOT do that then they are frankly, dumb.

a reply to: UKTruth

yet nothing in their article shows anything illegal.

Actually, it does.
Tax evasion is illegal. For example, misrepresenting gifts as loans is tax evasion.

a reply to: Phage


Yeah I do sound off about the guy a bit too much. But you know as well as I do that most of it is just me trying to get a reaction. Or 'trolling' one may call it.

I know I know it's not exactly indicative of high intellect, morals or even a decent personality but, we all have faults. Plus it's fun. And even encouraged in our little echo chamber here, as you can tell by all the thread titles.

When I started ATSing back around 2010 when we all loved conspiracy (not my first profile) there was none of this, I bet you miss that ATS, I know I do.

It's just too hard to get out of this gutter Phage.

a reply to: Breakthestreak

Take a week or three off. I did.

originally posted by: Phage
a reply to: UKTruth

yet nothing in their article shows anything illegal.

Actually, it does.
Tax evasion is illegal. For example, misrepresenting gifts as loans is tax evasion.

...and they have shown proof that the loans were intended as gifts?

a reply to: UKTruth

Indications seem to be leaning in that direction. I suppose it depends upon if the loans were paid. At prevailing interest rates. That should show up. Somewhere. Hundreds of millions.


Some people wondered why Trump was so sensitive about the tax thing. Some thought it was because it might show he lied about his wealth. Big deal.

Of course, there's that invoicing thing...

originally posted by: Phage
a reply to: UKTruth

Indications seem to be leaning in that direction. I suppose it depends upon if the loans were paid. At prevailing interest rates. That should show up. Somewhere. Hundreds of millions.


Some people wondered why Trump was so sensitive about the tax thing. Some thought it was because it might show he lied about his wealth. Big deal.

Of course, there's that invoicing thing...

Unpaid loans might affect his credit rating
'Indications leaning' towards loans being gifts is speculation.
My business which I own 100% can pay me a loan under terms I set - if the Inland Revenue wants to question me they can do so and even charge me extra tax if they feel the loan was never going to be repaid.
So what? That's up to the IR and if they have not challenged Mr Trump all these years, why would they do so now? They have had his returns year after year.

The only issue arises if Trump did not declare income - which the article is not claiming.
How he categorised it is then a matter for the IRS to review and charge him more or less (as if) tax based on his filing.
He's been audited so often, you think they missed something?

originally posted by: Kharron
a reply to: EdumakatedYou accepted that very easily.

The whole premise behind this imaginary persona DJT has created is that he is a genius,

well, he sure as sh1t is doing a good job.
Laser focused and actually achieving his promises... when was the last time any president did anything comparable?

but yes, ok... he inherited a lot of money from his parents.. thats nothing new.. inheriting it makes it easier but he still built his empire!

a reply to: UKTruth

So what? That's up to the IR and if they have not challenged Mr Trump all these years, why would they do so now? They have had his returns year after year.

Remember a guy named Capone?