The president has long sold himself as a self-made billionaire, but a Times investigation found that he received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s. https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html Long....and I do mean long....huge article exhaustively documenting the Fred Trump family fortune and the sketchy techniques he used to pass it down to his kids, with one being the prime beneficiary TL;DR version- Trump basically inherited nearly all of his fortune from his father who used decades worth of shady and illegal tax dodges to pass it by evading/avoiding taxes (except for a brief period at the end of his life wjen he realized Don was trying to steal all of it), and his whole image as a wheeler dealer is....a sham. Sorry for the spoilers guys - but Trump the brand is kind of a lie. Most of the things described are outside the statute of limitations but apparently the NYS dot can recoup some of it. Potentially. Great work by the Times here - godawfully boring and tedious but necessary work.
i had provided this summary in another thread, Giving Trump The Significant Finger DJ Trump Engaged in Dubious Tax Schemes / Outright Fraud as He Reaped Riches From His Father Donald Trump has long sold himself as a self-made billionaire, but a Times investigation found that he received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s. 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. He 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 maneuvers met with little resistance from the Internal Revenue Service, The Times found. Trump’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 % tax rate then imposed on gifts and inheritances. tax records show Trumps' parents paid a total of $52.2 million, or about 5 %, The reporting makes clear that in every era of Mr. Trump’s life, his finances were deeply intertwined with, and dependent on, his father’s wealth. thru these dubious tax schemes, at age 3, Donald was earning ~ $200K a year; he became a millionaire. by age 40, he was earning ~ $ 4 - 5 million a year from his father's gifts.
Why is this coming as news to people? Did anyone think he wasnt just a trust fund kid born into hundreds of millions affording him unlimited entitlement and opportunities? You dont get a personality like that as someone self made. None of it matters though, hes still a better candidate than hilary and has pressured liberal bastions like amazon into higher min wages.
Right because Trump could exterminate all the Mexicans, blacks, and Muslims and you would probably celebrate
[Educational Post] Every man of means (which is almost none of you reading this) works with tax advisors to pay no greater amount than is owed. Trump has led our country to its best economic performance ever. Stock market at all time highs, unemployment at lows, economic growth strong, trade deals put in place to benefit Americans... the list goes on and on. Yet the liberals like Sham Fisher are still intent on playing small ball over tax issues from the 1990's. It makes you look small, quite honestly. You should focus instead on the economic health and prosperity of the country, which is outstanding. Trump is owning you and your hatred is driving you to look ridiculous. GOOD DAY
At a certain point, I just wonder if you are a real life liberal parodying a right wing nut Stephen Colbert style.
WTF are you talking about, Ghost? The only people I'd exterminate are the Lilliputians with a hot steaming flood of liquid gold.
Is there anyone on earth with hundreds of millions + who isn't doing something similar? I appreciate the effort but this could have been a tl,dr.
