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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums11 Takeaways From The Times's Investigation Into Trump's Wealth
https://www.nytimes.com/2018/10/02/us/politics/donald-trump-wealth-fred-trump.html#click=https://t.co/h2QyHb3JhaThe Trumps tax maneuvers show a pattern of deception, tax experts say
The line between legal tax avoidance and illegal tax evasion is often murky, and there is no shortage of clever tax-avoidance tricks that have been blessed by either the courts or the Internal Revenue Service itself; the wealthiest Americans rarely pay anything close to full freight. The Trumps tax maneuvers met with little resistance from the I.R.S., The Times found.
But tax experts briefed on The Timess findings said the Trumps appeared to have done more than exploit legal loopholes. They said the conduct described here represented a pattern of deception and obfuscation that repeatedly prevented the I.R.S. from taxing large transfers of wealth to Fred Trumps children.
...
Fred Trump wove a safety net that rescued his son from one bad bet after another
...
Between 1989 and 1992, four of the entities that Fred Trump created paid his son todays equivalent of $8.3 million. And when Donald Trump pleaded with bankers for an emergency line of credit, he used as collateral the stake his father had given him in a group of apartment buildings.
The line between legal tax avoidance and illegal tax evasion is often murky, and there is no shortage of clever tax-avoidance tricks that have been blessed by either the courts or the Internal Revenue Service itself; the wealthiest Americans rarely pay anything close to full freight. The Trumps tax maneuvers met with little resistance from the I.R.S., The Times found.
But tax experts briefed on The Timess findings said the Trumps appeared to have done more than exploit legal loopholes. They said the conduct described here represented a pattern of deception and obfuscation that repeatedly prevented the I.R.S. from taxing large transfers of wealth to Fred Trumps children.
...
Fred Trump wove a safety net that rescued his son from one bad bet after another
...
Between 1989 and 1992, four of the entities that Fred Trump created paid his son todays equivalent of $8.3 million. And when Donald Trump pleaded with bankers for an emergency line of credit, he used as collateral the stake his father had given him in a group of apartment buildings.
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11 Takeaways From The Times's Investigation Into Trump's Wealth (Original Post)
Roland99
Oct 2018
OP
So much gold in the Times article I do not know which to dig into first...here is one...
Fred Sanders
Oct 2018
#2
Iliyah
(25,111 posts)1. Putin must be upset with t-rump.
Also, asshole Kav will try and save him with that f-up pardon issue. But then again, Putin's specialty is poison.
Fred Sanders
(23,946 posts)2. So much gold in the Times article I do not know which to dig into first...here is one...
"Co-op sales, mortgage payments, ground leases Fred Trump was a master at finding ways to enrich his children in general and Donald Trump in particular. Some ways were like slow-moving creeks. Others were rushing streams. A few were geysers. But as the decades passed they all joined into one mighty river of money. By 1990, The Times found, Fred Trump, the ultimate silent partner, had quietly transferred todays equivalent of at least $46.2 million to his son."
Fred Trump's accountant, if alive, and Don's accountant need to be spoken to by the FBI, though hear Don's already has been.