Author Topic: "Mr.Trump received the equivalent of at least $413 million from his father"  (Read 7947 times)

Liberty

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

Quote
But The Timesís 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 fatherís 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. Records indicate that Mr. Trump helped his father take improper tax deductions worth millions more. He also helped formulate a strategy to undervalue his parentsí 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. [...]

The presidentís 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 percent tax rate then imposed on gifts and inheritances. [...]

By age 3, Mr. Trump was earning $200,000 a year in todayís dollars from his fatherís 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. [...]

Fred Trump was relentless and creative in finding ways to channel this wealth to his children. He made Donald not just his salaried employee but also his property manager, landlord, banker and consultant. He gave him loan after loan, many never repaid. He provided money for his car, money for his employees, money to buy stocks, money for his first Manhattan offices and money to renovate those offices. He gave him three trust funds. He gave him shares in multiple partnerships. He gave him $10,000 Christmas checks. He gave him laundry revenue from his buildings. [...]

All told, The Times documented 295 streams of revenue that Fred Trump created over five decades to enrich his son. In most cases his four other children benefited equally. But over time, as Donald Trump careened from one financial disaster to the next, his father found ways to give him substantially more money, records show.

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

"Do you know how high the bar is for the NYT to directly accuse someone, let alone a sitting president, of tax fraud, which is a federal crime? It's very, very high. And here we are."

https://twitter.com/BCAppelbaum/status/1047205512012546048
« Last Edit: October 02, 2018, 12:46:03 PM by Liberty »
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Gregmal

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Liberty I'll point out, you, Dougie, and the liberal mob spam stuff like this all the time. Then I spam the same type of rhetoric, from the conservative side, and you guys cry foul, cry the typical "racist, homophobic, sexist" identity politics drivel, and generally speaking have temper tantrums. Dish it out but can't take it. Stop being such a snowflake.

Parsad

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Liberty I'll point out, you, Dougie, and the liberal mob spam stuff like this all the time. Then I spam the same type of rhetoric, from the conservative side, and you guys cry foul, cry the typical "racist, homophobic, sexist" identity politics drivel, and generally speaking have temper tantrums. Dish it out but can't take it. Stop being such a snowflake.


Hold on Greg!  We may cry foul, but nobody stops you from posting...it's the personal attacks that get removed...like why are you calling Liberty a snowflake?  Do you think that is appropriate?


Cheers!
No man is a failure who has friends!

Gregmal

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Liberty I'll point out, you, Dougie, and the liberal mob spam stuff like this all the time. Then I spam the same type of rhetoric, from the conservative side, and you guys cry foul, cry the typical "racist, homophobic, sexist" identity politics drivel, and generally speaking have temper tantrums. Dish it out but can't take it. Stop being such a snowflake.


Hold on Greg!  We may cry foul, but nobody stops you from posting...it's the personal attacks that get removed...like why are you calling Liberty a snowflake?  Do you think that is appropriate?


Cheers!

Sanjeev, snowflake is mild mannered compared to "rapist", "racist", "bigot", misogynist", "disgusting person", etc... I agree though, you do a good job of moderating when they(and myself) cross the line. I just thought it worth pointing out how quick they jump to the fake outrage, or childish "I'm gonna ignore you, this is offensive!" rhetoric simply because they hear or read something they don't like, even though they do the exact same thing themselves. Well, I at least say what I think. Many of them hide behind a Twitter post or article that says it for them... It's the same thing though
« Last Edit: October 02, 2018, 03:31:33 PM by Gregmal »

Parsad

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Liberty I'll point out, you, Dougie, and the liberal mob spam stuff like this all the time. Then I spam the same type of rhetoric, from the conservative side, and you guys cry foul, cry the typical "racist, homophobic, sexist" identity politics drivel, and generally speaking have temper tantrums. Dish it out but can't take it. Stop being such a snowflake.


Hold on Greg!  We may cry foul, but nobody stops you from posting...it's the personal attacks that get removed...like why are you calling Liberty a snowflake?  Do you think that is appropriate?


Cheers!

Sanjeev, snowflake is mild mannered compared to "rapist", "racist", "bigot", misogynist", "disgusting person", etc... I agree though, you do a good job of moderating when they(and myself) cross the line. I just thought it worth pointing out how quick they jump to the fake outrage, or childish "I'm gonna ignore you, this is offensive!" rhetoric simply because they hear or read something they don't like, even though they do the exact same thing themselves. Well, I at least say what I think. Many of them hide behind a Twitter post or article that says it for them... It's the same thing though


On a public forum, it isn't always appropriate to say exactly what you think.  I'm on them too if they make it personal. 

I think if everyone kept the discussions to points of view rather than personal attacks, the board would work a whole lot better.  Who knows, each side may actually learn something from the other!  Cheers!
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Liberty

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Liberty I'll point out, you, Dougie, and the liberal mob spam stuff like this all the time. Then I spam the same type of rhetoric, from the conservative side, and you guys cry foul, cry the typical "racist, homophobic, sexist" identity politics drivel, and generally speaking have temper tantrums. Dish it out but can't take it. Stop being such a snowflake.


Hold on Greg!  We may cry foul, but nobody stops you from posting...it's the personal attacks that get removed...like why are you calling Liberty a snowflake?  Do you think that is appropriate?

It's projection. The biggest snowflakes, like Trump, always call others snowflakes (Trump's so thin skinned he spent years obsessing over a journalist who once said he had small hands, mailing him magazine covers with his hands circled. There are countless examples of him taking offense at the pettiest things...). Greg can't even bear to see something that contradicts his views or paints in a negative light his "team", so he immediately jumps to trolling and attacks that are unrelated to the topic at hand.

I post a newsworthy piece about Trump's lies about the source of his fortune and fraud committed by him and his family with him benefiting tremendously (I know some here don't care about integrity and following the law, but others might) and immediately the sophomoric off-topic trolling begins. That's not adding much value.

I don't care if his father was wealthy and left him money. This is about lying about it for decades including during the presidential race and the fact that a lot of the money apparently came from fraud at the taxpayers' expenses (a pretty hypocritical crime for a head of state).

It's really weird how people can compartmentalize and act like none of what Trump does is a big deal. Imagine if your father, or brother, or a business partner acted like him. Constantly bragging, including about many things you find out aren't true, known to treat women badly and bragging about that, lying about the source of his money or how good he is a businessman, spending huge amounts of time watching TV and playing golf rather than working at his important job, etc. People would never stand for it, yet because Trump is the leader of a polical party, suddenly a large fraction of the country can just turn a blind eye to all this. Munger was so right that ideology turns brains to cabbage.
« Last Edit: October 02, 2018, 04:46:10 PM by Liberty »
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Liberty

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Sanjeev, snowflake is mild mannered compared to "rapist", "racist", "bigot", misogynist", "disgusting person", etc... I agree though, you do a good job of moderating when they(and myself) cross the line. I just thought it worth pointing out how quick they jump to the fake outrage, or childish "I'm gonna ignore you, this is offensive!" rhetoric simply because they hear or read something they don't like, even though they do the exact same thing themselves. Well, I at least say what I think. Many of them hide behind a Twitter post or article that says it for them... It's the same thing though

Trump has just as much evidence and accusers as Harvey Weinstein, probably more since he's on tape bragging about it on top of it all, and it's come out he has also cheated on his wives a lot and had to pay women hush money to keep quiet. Should we not call Harvey Weinstein a disgusting rapist and a misogynist and a garbage person? I apply the same standard to Trump as anyone else. He's just worse than most people, which is to be expected from a narcissistic con man fraudster who's defending the KKK and Putin on TV.

I picked this screen-name because I care a lot about liberty. Authoritarians like him aren't my thing to begin with, but when you add in everything else, it's hard to just ignore...
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cubsfan

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It's really weird how people can compartmentalize and act like none of what Trump does is a big deal.

 spending huge amounts of time watching TV and playing golf rather than working at his important job, etc. People would never stand for it, yet because Trump is the leader of a polical party, suddenly a large fraction of the country can just turn a blind eye to all this.

You will never admit the good Trump is doing for this country - never - you just can't bring yourself to acknowledge any of it.

And where the hell do you come up with this other garbage?  Trump's the hardest working President we've ever seen - he's constant motion - the way he is driving his cabinet and Congress to get things done is making past administrations look sick.

The proof is in the economy, the tax cuts, the job creation happening.  These are the reasons he was elected - and has delivered. 

All Americans really care about is that he keeps his campaign promises. So far, so good.

You just hate the guy! Why don't you just admit it?

cubsfan

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I picked this screen-name because I care a lot about liberty. Authoritarians like him aren't my thing

I love that screen name, but geez, you've got no sense of fairness at all.  You're just a "never Trumper" masquerading around.

There is no such thing as an "Authoritarian" in American government. What a joke. Get over it already.

Parsad

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It's really weird how people can compartmentalize and act like none of what Trump does is a big deal.

 spending huge amounts of time watching TV and playing golf rather than working at his important job, etc. People would never stand for it, yet because Trump is the leader of a polical party, suddenly a large fraction of the country can just turn a blind eye to all this.

You will never admit the good Trump is doing for this country - never - you just can't bring yourself to acknowledge any of it.

And where the hell do you come up with this other garbage?  Trump's the hardest working President we've ever seen - he's constant motion - the way he is driving his cabinet and Congress to get things done is making past administrations look sick.

The proof is in the economy, the tax cuts, the job creation happening.  These are the reasons he was elected - and has delivered. 

All Americans really care about is that he keeps his campaign promises. So far, so good.

You just hate the guy! Why don't you just admit it?

Hi Cubsfan,

Hardest working...let's be real!  I'm not sure I've ever seen anyone golf more than him while in office.  And don't tell me it's meetings, because half the time, he's golfing by himself!

He's does work hard on pushing his agenda, but not being President.  Now that may not be any different to some people, but I think as President he has duties to his constituents that voted for him, and those that didn't.  He's succeeding on one, but utterly failing in the other.  Not that past President's were necessarily successful in both either, but he has pretty much abandoned any responsibility to those that didn't vote for him.  In fact, he's just pitting one against the other!

Cheers!
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