Brad_ATX 13,654 Posted October 2, 2018 Share Posted October 2, 2018 Very long, but well researched article from the NYT here. https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html?smid=fb-nytimes&smtyp=cu Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/ Share on other sites More sharing options...
homersapien 12,924 Posted October 2, 2018 Share Posted October 2, 2018 "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." I suspect this may be related to the reason he didn't release his tax returns. But I suspect there's Russian money involved as well. Not sure if true - but I heard the Democrats can force the tax filings for release if they take the house. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2930853 Share on other sites More sharing options...
AUDub 12,283 Posted October 2, 2018 Share Posted October 2, 2018 I mean, I knew the whole empire was crooked as a question mark, but Jesus. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2930858 Share on other sites More sharing options...
HVAU 673 Posted October 3, 2018 Share Posted October 3, 2018 I sure would like to be "self made." "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." Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931330 Share on other sites More sharing options...
channonc 466 Posted October 3, 2018 Share Posted October 3, 2018 20 hours ago, homersapien said: "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." I suspect this may be related to the reason he didn't release his tax returns. But I suspect there's Russian money involved as well. Not sure if true - but I heard the Democrats can force the tax filings for release if they take the house. They can. It takes a simple majority of the House to force a vote to release any individual's tax returns. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931516 Share on other sites More sharing options...
homersapien 12,924 Posted October 3, 2018 Share Posted October 3, 2018 4 hours ago, HVAU said: I sure would like to be "self made." "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." I don't know much about the legalities of some of the actions revealed in this piece but I am pretty sure some constitute criminal fraud. I hope there are no expired statutes of limitations. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931525 Share on other sites More sharing options...
TitanTiger 22,262 Posted October 3, 2018 Share Posted October 3, 2018 In before someone calls it "fake news" or posts the breathless rebuttals from Fox. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931531 Share on other sites More sharing options...
SaltyTiger 9,036 Posted October 3, 2018 Share Posted October 3, 2018 25 minutes ago, TitanTiger said: breathless rebuttals from Fox. No rebuttals on Fox . Was a little article on down the political page. Guess we will have to see. NYT: Trump got $413 million from his father Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931547 Share on other sites More sharing options...
Brad_ATX 13,654 Posted October 3, 2018 Author Share Posted October 3, 2018 41 minutes ago, TitanTiger said: In before someone calls it "fake news" or posts the breathless rebuttals from Fox. It's about as air-tight of a story as one can get. Over 100,000 pages of documents? That's Pentagon papers level of data. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931548 Share on other sites More sharing options...
NolaAuTiger 3,295 Posted October 3, 2018 Share Posted October 3, 2018 4 hours ago, channonc said: They can. It takes a simple majority of the House to force a vote to release any individual's tax returns. I do not think they could. Such a bill would have a very difficult time passing constitutional muster, i.e., the Qualifications Clause. It would have to hinge on whether the measure is a substantive qualification for the presidency, or merely procedural. I lean towards the former. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931638 Share on other sites More sharing options...
NolaAuTiger 3,295 Posted October 3, 2018 Share Posted October 3, 2018 8 hours ago, HVAU said: I sure would like to be "self made." "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." Ehh, I think that's silly. Pointless either way. Lots of people on WS come from wealthy families. Lots of people also lost it all. Takes money to make money in those neighborhoods. Doesn't mean a person is not "self-made." But again, who cares lol Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931640 Share on other sites More sharing options...
HVAU 673 Posted October 3, 2018 Share Posted October 3, 2018 17 minutes ago, NolaAuTiger said: But again, who cares lol It may not amount to much at this point, but the self made title was one that was most frequently lauded by his supporters during the election. And, yes, it takes money to make money. But, as the article indicates, in the case of the Trumps, it also takes a willingness to skirt laws, unethically tap into public funds and engage in slumlord real estate strategies. Combine that with the allegations of sexual assault, domestic abuse and general incompetence, and Trump looks to be a real prize.We all know he's no saint though, right? Maybe it's just late onset affluenza. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931647 Share on other sites More sharing options...
NolaAuTiger 3,295 Posted October 3, 2018 Share Posted October 3, 2018 1 minute ago, HVAU said: slumlord real estate strategies. You mean like the rest of the real estate market, and that time they crammed subprime loans into CDOs for AAA S&P ratings. It aint just him! Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931650 Share on other sites More sharing options...
HVAU 673 Posted October 3, 2018 Share Posted October 3, 2018 25 minutes ago, NolaAuTiger said: You mean like the rest of the real estate market, and that time they crammed subprime loans into CDOs for AAA S&P ratings. It aint just him! Of course it isn't just him. Greed and graft are common traits in that business, I'm certain. That doesn't mean that it isn't despicable. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931659 Share on other sites More sharing options...
HVAU 673 Posted October 3, 2018 Share Posted October 3, 2018 Also, the credit default swap were a major contributor to the severity of the recession. To bring them up in as a "he's not the only crook" defense of Trump is interesting considering his anti-regulation position concerning CDSs and the fiduciary rule. "Federal regulators were attempting to close the loophole at the end of the Obama administration, but the Trump administration appears to have abandoned the effort, he adds." https://www.npr.org/2018/06/19/621543525/big-banks-are-once-again-taking-risks-with-complex-financial-trades-report-says Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931664 Share on other sites More sharing options...
DKW 86 8,246 Posted October 3, 2018 Share Posted October 3, 2018 On 10/2/2018 at 4:15 PM, homersapien said: "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." I suspect this may be related to the reason he didn't release his tax returns. But I suspect there's Russian money involved as well. Not sure if true - but I heard the Democrats can force the tax filings for release if they take the house. Add in the $2BN in bankruptcy filings and there you go. Not much as far as a great business man huh? Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931667 Share on other sites More sharing options...
homersapien 12,924 Posted October 4, 2018 Share Posted October 4, 2018 2 hours ago, NolaAuTiger said: I do not think they could. Such a bill would have a very difficult time passing constitutional muster, i.e., the Qualifications Clause. It would have to hinge on whether the measure is a substantive qualification for the presidency, or merely procedural. I lean towards the former. This provides another perspective on Trump's rabid support of Kavanaugh. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931736 Share on other sites More sharing options...
homersapien 12,924 Posted October 4, 2018 Share Posted October 4, 2018 2 hours ago, NolaAuTiger said: Ehh, I think that's silly. Pointless either way. Lots of people on WS come from wealthy families. Lots of people also lost it all. Takes money to make money in those neighborhoods. Doesn't mean a person is not "self-made." But again, who cares lol If you start out with a $400+M grubstake, you are NOT a self-made man. Damn Nola. Do you come from a wealthy background? Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931745 Share on other sites More sharing options...
homersapien 12,924 Posted October 4, 2018 Share Posted October 4, 2018 2 hours ago, NolaAuTiger said: You mean like the rest of the real estate market, and that time they crammed subprime loans into CDOs for AAA S&P ratings. It aint just him! True. But the issue is, he's the one who got elected as president. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931751 Share on other sites More sharing options...
SaltyTiger 9,036 Posted October 4, 2018 Share Posted October 4, 2018 On 10/2/2018 at 3:49 PM, Brad_ATX said: Very long, but well researched article from the NYT here. https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html?smid=fb-nytimes&smtyp=cu On 10/2/2018 at 4:15 PM, homersapien said: I suspect this may be related to the reason he didn't release his tax returns. But I suspect there's Russian money involved as well. On 10/2/2018 at 4:31 PM, AUDub said: I mean, I knew the whole empire was crooked as a question mark, but Jesus. 5 hours ago, Brad_ATX said: 6 hours ago, TitanTiger said: It's about as air-tight of a story as one can get. Over 100,000 pages of documents? That's Pentagon papers level of data. 6 minutes ago, homersapien said: This provides another perspective on Trump's rabid support of Kavanaugh. 2 hours ago, NolaAuTiger said: But again, who cares lol Good Point Nola. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931753 Share on other sites More sharing options...
homersapien 12,924 Posted October 4, 2018 Share Posted October 4, 2018 1 hour ago, DKW 86 said: Add in the $2BN in bankruptcy filings and there you go. Not much as far as a great business man huh? There's undoubtedly enough reasons in the revelation for the Republican to rationalize impeaching Trump before the 2020 elections, no Russian collusion charges needed. Agree David? Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931755 Share on other sites More sharing options...
homersapien 12,924 Posted October 4, 2018 Share Posted October 4, 2018 2 minutes ago, SaltyTiger said: Good Point Nola. Have you at last, no shame? Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931758 Share on other sites More sharing options...
SaltyTiger 9,036 Posted October 4, 2018 Share Posted October 4, 2018 8 minutes ago, homersapien said: If you start out with a $400+M grubstake, you are NOT a self-made man. What did we miss. Never heard anyone say they voted for Trump because he is a "self made man". Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931763 Share on other sites More sharing options...
homersapien 12,924 Posted October 4, 2018 Share Posted October 4, 2018 1 minute ago, SaltyTiger said: What did we miss. Never heard anyone say they voted for Trump because he is a "self made man". You just going to overlook his family's immoral, predatory and fraudulent business practices? Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931768 Share on other sites More sharing options...
homersapien 12,924 Posted October 4, 2018 Share Posted October 4, 2018 3 minutes ago, SaltyTiger said: What did we miss. Never heard anyone say they voted for Trump because he is a "self made man". If so, it not because he was wasn't promoting that lie. Link to comment https://www.aufamily.com/topic/164227-trump-and-tax-schemes-long/#findComment-2931772 Share on other sites More sharing options...
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