Major New York Times Investigation Reveals Trump’s Decades Long Tax Fraud

“President Trump is a criminal! Read all about it!!”

At least that’s what the boys who sold papers in Times Square would have been screaming a hundred years ago, but not today.  Today, it’s “oh well,” “ho-hum.” Another day in the life of Trump, past, present, and no doubt future.  No one cares, and no one pauses, because the White House criminal has been normalized.

From Axios:

A mammoth New York Times investigation found that Donald Trump had engaged in “dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents.”

Why it matters: The report, which relies on confidential Fred Trump (his father) documents and tax returns, shows how Donald Trump built his fortune. Documents suggest that Trump’s father provided his son with as much as $60.7 million in loans ($140 million if adjusted for inflation), in contrast to Trump’s suggestion he only received $1 million.

Details from the story: “All told, The Times documented 295 distinct streams of revenue Fred Trump created over five decades to channel wealth to his son.”

  • “When Fred Trump died in June 1999 at the age of 93, the vast bulk of his empire was nowhere to be found in his estate — testament to the success of the tax strategies devised by the Trumps in the early 1990s.”
  • The Times found that Trump received the equivalent of $413 million after questionable tax dealings with this father’s real estate empire during the 1990s.
  • Helped by a variety of tax dodges, the Trumps paid $52.2 million, or about 5%.
  • The IRS reportedly provided little pushback against the Trumps’ tactics.
  • Trump reportedly tried to change his father’s will when he was sick to benefit himself.
  • His father was “alarmed and angered, feared could result in his empire’s being used to bail out his son’s failing businesses.”

Among the juiciest lines: “By age 3, [Donald Trump] was earning $200,000 a year in today’s dollars from his father’s empire. He was a millionaire by age 8. In his 40s and 50s, he was receiving more than $5 million a year.”

  • Fred Trump illegally purchased $3.5 million in casino chips at his son’s casino in 1990, ultimately paying a $65,000 fine.

The bottom line: Fred Trump’s documents reveal he acted like the stereotype of a rich person, using every possible legal tax loophole (along with some that were less than legal) to pass his fortune to his children.

What’s next: “The Tax Department is reviewing the allegations in the NYT article and is vigorously pursuing all appropriate avenues of investigation,” a spokesman from New York State Department of Taxation and Finance told CNBC.

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Posted by on October 2, 2018. Filed under News,NEWS I FIND INTERESTING. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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4 Responses to Major New York Times Investigation Reveals Trump’s Decades Long Tax Fraud

  1. jess Reply

    October 2, 2018 at 9:14 pm

    I am looking around here for my shocked face, just to show how shocked I am that dolt 45 is not a self made billionaire and has done some shady shit in his past. I’ll find it some day, I am certain of it 🙂

    • Michael John Scott Reply

      October 3, 2018 at 10:22 am

      I misplaced mine as well. I’ve looked everywhere and concluded my dog Barney must have hidden it somewhere around November 2016.

  2. Glenn Geist Reply

    October 3, 2018 at 12:04 pm

    This country, having allowed this and prevented the undoing of this horror, has no legitimate reason to survive. We certainly don’t deserve to. I just hope every ruined life, every destroyed family and business and savings account and career and every vestige of freedom and justice and decency and peace remembers Hillary’s emails and that future archaeologists remember crooked Hillary and how Trump drained the swamp as they comb the deserted and polluted sands for traces of the legendary America.

    I think of some some bum sitting on the curb in his own stench drinking a bottle of Trump Wine – forever.

  3. Bill Formby Reply

    October 4, 2018 at 1:19 pm

    I am with Glenn but I hope it does have to wait for some archaeologist to find this out. Those who support Trump, and in particular those in congress should rot in hell, if there is one, for what they have allowed to happen to this country. It is hard to fathom that one of the most progressive nations on earth has been drug so far back in time that I barely recognize it. The really sad thing is that the worst is yet to come.

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