Trump Family Tax Cheats

[SkyDekker 1,121]

Investigative reporting by the NY Times. Good read.

https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html

[gowlerk 1,910]

After a lifetime of cheating and fraud it is unlikely that he stopped or changed his behavior in the recent past. By that I mean within the statute of limitations for such crimes. These are the sort of infractions that the Mueller investigation is going to destroy him with.

Always remember the brave children who died defending your right to bear arms. Freedom is not free.

[Phil1111 910]

gowlerk

After a lifetime of cheating and fraud it is unlikely that he stopped or changed his behavior in the recent past. By that I mean within the statute of limitations for such crimes. These are the sort of infractions that the Mueller investigation is going to destroy him with.

IRS Can Audit for Three Years, Six, or Forever: Here’s How to Tell
https://www.americanbar.org/publications/blt/2017/08/06_wood.html

6. No Return or Fraudulent Return. What if you never file a return or file a fraudulent one? The IRS has no time limit if you never file a return or if it can prove civil or criminal fraud. If you file a return, can the IRS ever claim that your return didn’t count so that the statute of limitations never starts to run? The answer is “yes.” If you don’t sign your return, the IRS does not consider it a valid tax return. That means the three years can never start to run.

The donald will likely already be wearing his orange jumpsuit by the time the IRS get around to him.

Showtime to air documentary on NYT Trump tax story
https://thehill.com/homenews/media/409595-showtime-to-air-documentary-on-nyt-trump-investigation
"Showtime announced Tuesday evening it will air a new documentary film centered on a bombshell New York Times report alleging President Trump accrued millions of dollars from "dubious" tax schemes.

"The film follows a team of New York Times investigative reporters through their diligent and intense efforts in uncovering the information that led to this exclusive report," according to a release from the channel.

As part of the series "The Fourth Estate," which premiered on Showtime earlier, a film crew was embedded for more than a year to follow Times investigative reporters David Barstow, Russell Buettner and Susanne Craig. The documentary, "The Family Business: Trump and Taxes," will detail the trio's efforts to report on the alleged tax scheme. It will air on Sunday, Oct. 7, at 8:30 p.m. EST."

That would be.....mmmmm.... 30days before midterms.

But for trump cultists this is likely a selling point. Defrauding the state is conduct to be applauded. All government is bad and every action is legitimate if it keeps your money in your pocket.

[ryoder 1,382]

And the amusing part near the end is that when several years after Fred and his wife had both passed away, the 4 surviving Trump children (led by Donald) sold Fred's real estate holdings for $740 million. The banks estimated the value of the properties sold to be $1 billion. Oh, yeah, what a sharp businessman!

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[Phil1111 910]

ryoder

And the amusing part near the end is that when several years after Fred and his wife had both passed away, the 4 surviving Trump children (led by Donald) sold Fred's real estate holdings for $740 million. The banks estimated the value of the properties sold to be $1 billion. Oh, yeah, what a sharp businessman!

One billion in NY real estate has risen fourfold in the last 17 years.
https://www.trulia.com/real_estate/New_York-New_York/market-trends/

Which means trumps 2000 inheritance would now be worth $4 billion. His actual is $2.8.
http://time.com/5296830/donald-trump-net-worth-2018/ So he can't even beat the general market.

[jakee 1,254]

Funny, but remember that was $1Bn in holdings and four children, not just the Don.

Do you want to have an ideagasm?

[Phil1111 910]

jakee

Funny, but remember that was $1Bn in holdings and four children, not just the Don.

I thought of that, But don't forget, the donald was trying to weasel his way into the entire inheritance by amending Fred's will two years prior to his death. In addition that dosn't take into account transfers of assets as outlined in the NYT story.

Its all good to trump supporters. Lying, cheating charities, cheating the government, cheating on wives with dozens of other women. Heck its likely to increase his polling numbers! It like when a prison inmate assaults a couple guards. In the minds of other inmates he becomes a hero.

What say you Ron, Marc?

[ryoder 1,382]

Forbes: How Trump Is Trying—And Failing—To Get Rich Off His Presidency
https://www.forbes.com/sites/danalexander/2018/10/02/how-trump-is-tryingand-failingto-get-rich-off-his-presidency/

NPR interviewed the author this morning, and the NYT tax story also came up in the discussion.
It is primarily about Trumps net worth and how getting into politics has torpedoed it.

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[ryoder 1,382]

Like we needed any more proof Trump is totally ignorant of basic business concepts:

The Failing New York Times did something I have never seen done before. They used the concept of “time value of money” in doing a very old, boring and often told hit piece on me. Added up, this means that 97% of their stories on me are bad. Never recovered from bad election call

https://twitter.com/realDonaldTrump/status/1047469711938736128

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[RonD1120 58]

Phil1111

What say you Ron, Marc?

The economy is booming above what BHO thought was possible. According to Rasmussen this AM, President Trump's approval rating is 48%. This is three points ahead of BHO for the first two years in office.

According to Qanon, the red tsunami is both vertical and horizontal. Cryptic, yes?

Look for the shiny things of God revealed by the Holy Spirit. They only last for an instant but it is a Holy Instant. Let your soul absorb them.

[billvon 2,396]

>The economy is booming above what BHO thought was possible.

Why do you make stuff up so often? Is it because you can't really handle the truth of what's happening?

>According to Rasmussen this AM, President Trump's approval rating is 48%. This is three points
>ahead of BHO for the first two years in office.

Trump's current average approval rating (from all polls, not just a Republican poll) is 42%. Obama's rating, during the same week in his second year, was 46%.

>According to Qanon, the red tsunami is both vertical and horizontal. Cryptic, yes?

According to Qanon, Angela Merkel is Hitler's granddaughter, and democrats operate a child sex ring from pizza places in New York.

[gowlerk 1,910]

ryoder

Like we needed any more proof Trump is totally ignorant of basic business concepts:

The Failing New York Times did something I have never seen done before. They used the concept of “time value of money” in doing a very old, boring and often told hit piece on me. Added up, this means that 97% of their stories on me are bad. Never recovered from bad election call

https://twitter.com/realDonaldTrump/status/1047469711938736128

I agree with Trump on this. When I read the story I was struck by their need to translate every figure into today's dollars. I makes the whole story appear more biased than it needs to. People aren't stupid, they understand the effects of inflation.

Always remember the brave children who died defending your right to bear arms. Freedom is not free.

[jakee 1,254]

RonD1120

According to Qanon, the red tsunami is both vertical and horizontal. Cryptic, yes?

Um, nah.

For it to be cryptic, it would have to have a meaning. Qanon stuff is straight made up nonsense.

Do you want to have an ideagasm?

[ryoder 1,382]

gowlerk

***Like we needed any more proof Trump is totally ignorant of basic business concepts:

The Failing New York Times did something I have never seen done before. They used the concept of “time value of money” in doing a very old, boring and often told hit piece on me. Added up, this means that 97% of their stories on me are bad. Never recovered from bad election call

https://twitter.com/realDonaldTrump/status/1047469711938736128

I agree with Trump on this. When I read the story I was struck by their need to translate every figure into today's dollars. I makes the whole story appear more biased than it needs to. People aren't stupid, they understand the effects of inflation.

You think a "businessman" who never saw the concept of TVM is normal???
I read an MBA textbook a couple years ago, and the whole thing was based on TVM.

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[gowlerk 1,910]

Sure, it's normal in an MBA textbook. It's not normal in a NYT article.

Always remember the brave children who died defending your right to bear arms. Freedom is not free.

[SkyDekker 1,121]

gowlerk

Sure, it's normal in an MBA textbook. It's not normal in a NYT article.

Of course it is. Not doing it would be utterly stupid.

They are reporting on differing amounts over multiple decades. In order to compare apples to apples one has to pick a moment in time. There is nothing wrong with that moment being today, since that is what most readers would be able to relate to.

[ryoder 1,382]

gowlerk

Sure, it's normal in an MBA textbook. It's not normal in a NYT article.

Seemed normal to me.
What is not normal is someone who supposedly has a college degree in business, stating they never saw the concept of TVM before.

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[gowlerk 1,910]

I kind of dislike the whole idea of defending the Dotard. But read the two sentences again.

Quote

The Failing New York Times did something I have never seen done before. They used the concept of “time value of money” in doing a very old, boring and often told hit piece on me.

They do not say that he is not familiar with the concept. When we, and the NYT, attack him we have plenty of material without digging into the weeds like this. It makes all of us look petty when there are substantial things to talk about. I'm sure I'm guilty of it as well. It's just too easy.

Always remember the brave children who died defending your right to bear arms. Freedom is not free.

[kallend 1,623]

ryoder

And the amusing part near the end is that when several years after Fred and his wife had both passed away, the 4 surviving Trump children (led by Donald) sold Fred's real estate holdings for $740 million. The banks estimated the value of the properties sold to be $1 billion. Oh, yeah, what a sharp businessman!

Looks like outright FRAUD to me.

www.pbs.org/newshour/show/nyt-investigation-unearths-new-details-about-trumps-early-millions

...

The only sure way to survive a canopy collision is not to have one.

[jcd11235 0]

RonD1120

The economy is booming above what BHO thought was possible.

When did that trend start?

It's clear in hindsight that the biggest gains from Trump's tax cuts were shareholders. Workers mostly got one-time bonuses instead of permanent wage increases.

Math tutoring available. Only $6! per hour! First lesson: Factorials!

[jcd11235 0]

ryoder

***I agree with Trump on this. When I read the story I was struck by their need to translate every figure into today's dollars. I makes the whole story appear more biased than it needs to. People aren't stupid, they understand the effects of inflation.

You think a "businessman" who never saw the concept of TVM is normal???
I read an MBA textbook a couple years ago, and the whole thing was based on TVM.

The lowest-level class I've taken in which TVM played a large role was one of the two lower-level undergrad accounting classes I had to take. I think it was introduced in Managerial Accounting, but it might have been Intro To …. The first time I saw TVM was Theory of Interest, taught by Stephen Kellison, who was a long-time president of the Society Of Actuaries.

My point is that TVM is common, credible, important, and not just the stuff of grad-level classes. It doesn't bias the article; its inclusion makes articles like this more accurate.

Math tutoring available. Only $6! per hour! First lesson: Factorials!

[JoeWeber 2,298]

jcd11235

***The economy is booming above what BHO thought was possible.

When did that trend start?

It's clear in hindsight that the biggest gains from Trump's tax cuts were shareholders. Workers mostly got one-time bonuses instead of permanent wage increases.

Therein lay's the conundrum of Ron. It's not about truth or facts or even simple honest engagement. It's all about getting around to religious, didactic stories or, that being too hard to organize, a biblical citation.

A troll by any other name.....

[dorkitup 1]

Fantastic read. Thanks!