8 Years of Trump Tax Returns Are Subpoenaed by Manhattan D.A.

(THIS ARTICLE IS COURTESY OF THE NEW YORK TIMES)

 

8 Years of Trump Tax Returns Are Subpoenaed by Manhattan D.A.

Investigators demanded the president’s personal and corporate tax returns as they examine hush money paid to Stormy Daniels.

ImageA lawyer for the Trump Organization last month called the investigation politically motivated “harassment of the president, his family and his business, using subpoenas as weapons.” 
CreditCreditAnna Moneymaker/The New York Times

State prosecutors in Manhattan have subpoenaed President Trump’s accounting firm to demand eight years of his personal and corporate tax returns, according to several people with knowledge of the matter.

The subpoena opens a new front in a wide-ranging effort to obtain copies of the president’s tax returns, which Mr. Trump initially said he would make public during the 2016 campaign but has since refused to disclose.

The subpoena was issued by the Manhattan district attorney’s office late last month, soon after it opened a criminal investigation into the role that the president and his family business played in hush-money payments made in the run-up to the election.

Both Mr. Trump and his company reimbursed Michael D. Cohen, the president’s former lawyer and fixer, for money Mr. Cohen paid to buy the silence of Stormy Daniels, a pornographic film actress who said she had an affair with Mr. Trump. The president has denied the affair.

It was unclear if the broad scope of the subpoena indicated that the office had expanded its investigation beyond actions taken during the 2016 campaign. A spokesman for the Manhattan district attorney, Cyrus R. Vance Jr., declined to comment.

The state prosecutors are seeking a range of tax documents from the accounting firm, Mazars USA, including Mr. Trump’s personal returns and those of his business, the Trump Organization. The subpoena seeks federal and state returns for both the president and the company dating back to 2011, the people said.

The investigation by Mr. Vance has been focused on $130,000 that Mr. Cohen paid Ms. Daniels, whose legal name is Stephanie Clifford, just before the election. Mr. Cohen pleaded guilty last year to breaking federal campaign finance laws and received a three-year prison sentence.

While the federal prosecutors who charged Mr. Cohen stated in a court filing in July that they had “effectively concluded” their inquiry into possible crimes committed by the company or its executives, Mr. Vance’s office is exploring whether the reimbursements violated any New York state laws.

In particular, the state prosecutors are examining whether the company falsely accounted for the reimbursements as a legal expense. In New York, filing a false business record can be a crime.

But it becomes a felony only if prosecutors can prove that the false filing was made to commit or conceal another crime, such as tax violations or bank fraud. The tax returns and other documents sought from Mazars could shed light on whether any state laws were broken. Such subpoenas also routinely request related documents in connection with the returns.

Democrats have insisted for years that Mr. Trump release his tax returns, which every modern presidential nominee has done before him. They contend that the president may be trying to conceal details of his actual financial worth, the source of his wealth and possible conflicts of interest involving his business partners.

Congressional Democrats have taken an aggressive approach, subpoenaing six years of Mr. Trump’s tax returns from the Treasury Department, as well as personal and corporate financial records from Deutsche Bank, Capital One and Mazars USA.

The president has fought back to keep his finances under wraps, challenging the subpoenas in federal court. He has also sued to block a New York State law, passed this year, that authorized state officials to provide his state tax returns in response to certain congressional inquiries. By tying up the requests in court, Mr. Trump’s team has made it diminishingly likely that Democrats in Washington will get the chance to review them before the election next year.

But it may be more difficult to fend off a subpoena in a criminal investigation with a sitting grand jury, as there is in Manhattan. It is possible the Trump Organization could try to negotiate with the district attorney’s office to narrow the scope of the subpoena.

Jay Sekulow, a lawyer for Mr. Trump, and Marc L. Mukasey, a lawyer for the Trump Organization, both declined to comment.

Asked whether the company would seek to quash the subpoena, Mazars USA said in a statement that it “will respect the legal process and fully comply with its legal obligations,” adding that the company was prohibited by its policy and professional rules from commenting on its work. The statement, however, did not directly address whether the company might take any legal action to block the subpoena.

Even if the Manhattan district attorney’s office is successful in obtaining the president’s tax returns, the documents would be covered by secrecy rules governing grand juries, meaning they would not become public unless they were used as evidence in a criminal case.

At the beginning of August, the state prosecutors also subpoenaed the Trump Organization, seeking documents related to the payment to Ms. Daniels and the reimbursement to Mr. Cohen. With few legal options, the Trump Organization has been complying with that subpoena.

Still, the company has derided the investigation by Mr. Vance, a Democrat, as politically motivated.

“It’s just harassment of the president, his family and his business, using subpoenas as weapons,” Mr. Mukasey said last month.

As part of its investigation, prosecutors from Mr. Vance’s office visited Mr. Cohen in prison in Otisville, N.Y., to seek assistance with their investigation, according to people briefed on the meeting, which was first reported by CNN.

Mr. Cohen also helped arrange for American Media Inc., the publisher of The National Enquirer, to pay Karen McDougal, a Playboy model who also said she had an affair with the president. Prosecutors in the district attorney’s office subpoenaed American Media in early August, as well as at least one bank.

The investigation is not the first time Mr. Vance’s office has focused on members of the Trump family or its business. In 2012, his office declined to charge two of Mr. Trump’s children, Ivanka Trump and Donald Trump Jr., in an investigation into whether they misled buyers interested in the Trump SoHo hotel-condominium project, a decision that resulted in criticism of Mr. Vance.

Maggie Haberman contributed reporting.

Ben Protess covers the Trump administration, including its overhaul of Obama-era regulations and potential conflicts of interest arising out of the president’s personal business dealings. He previously covered white-collar crime, Wall Street lobbying and the private equity industry. @benprotess

William K. Rashbaum is a senior writer on the Metro desk, where he covers political and municipal corruption, courts, terrorism and broader law enforcement topics. He was a part of the team awarded the 2009 Pulitzer Prize for breaking news. @WRashbaum  Facebook

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China: France to implement ‘national decisions’ on digital tax despite Trump’s threat

(THIS ARTICLE IS COURTESY OF THE SHANGHAI CHINA NEWS AGENCY ‘SHINE’)

 

France to implement ‘national decisions’ on digital tax despite Trump’s threat

Xinhua

French Minister of the Economy and Finance, Bruno Le Maire, said on Friday that the digital tax on internet giants was “a national decision” that the government would put on the ground, defying US threat of “a substantial reciprocal action.”

“France will implement its national decisions,” French newspaper Le Figaro quoted Le Maire as saying, in response to US President Donald Trump’s warning.

“The taxation of digital activities is a challenge that concerns all of us. We want to reach an agreement on this issue in the framework of the G7 and the OECD,” Le Maire said.

The French Parliament passed a new law to tax digital giants on July 11, making France one of the first countries to tax “GAFA” companies, namely Google, Amazon, Facebook and Apple.

“If anybody taxes them, it should be their home Country, the USA. We will announce a substantial reciprocal action on Macron’s foolishness shortly. I’ve always said American wine is better than French wine,” Trump wrote in his tweet.

The French Digital Services Tax imposes a 3-percent tax on total annual revenues generated by some companies from providing certain digital services to, or aimed at, French users.

The tax applies only to companies with total annual revenues from the covered services of at least 750 million euros (US$834 million) globally and 25 million euros in France.

The tax was initially adopted by France’s National Assembly, the lower house of parliament, on July 4. It is expected to collect 400 million euros this year and 650 million euros by 2022.

Despite a setback in Brussels to reach a European Union-wide taxation, the French government decided to impose the tax at the national level.

In response, the United States Trade Representative announced that it has initiated an investigation against the French law and its impact on US businesses.

The USTR launched the investigation under Section 301 of the Trade Act of 1974, accusing the French government of “unfairly targeting the tax at certain US-based technology companies”. It has been quoting Section 301 in investigating and interfering with foreign countries’ policies.

Section 301 is part of an outdated US trade law adopted in 1974 that allows the US president to unilaterally impose tariffs or other trade restrictions on foreign countries.

Palestinian-Israeli Meeting Fails to Resolve Tax Funds Crisis

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

 

Palestinian-Israeli Meeting Fails to Resolve Tax Funds Crisis

Friday, 28 June, 2019 – 11:00
A Palestinian demonstrator takes part in a protest against an Israeli decision to trim funds over prisoner stipends, in Hebron in the Israeli-occupied West Bank, on February 19, 2019. (Reuters)
Ramallah – Asharq Al-Awsat
A new Palestinian-Israeli meeting has failed to end the Palestinian tax revenue crisis.

Palestinian Authority Minister of Civil Affairs and Fatah Central Committee member Hussein al-Sheikh said ongoing talks with Israel about the seizure of Palestinian deducted funds did not make any progress.

“I met with the Israeli Minister of Finance Moshe Kahlon and Palestinian Minister of Finance Shukri Bshara yesterday(Wednesday) and discussed means to solve the clearance issue,” he tweeted.

“We demanded that Israel release the funds,” he said.

Their meeting at the Israeli Ministry of Finance headquarters in Jerusalem was attended by Coordinator of Government Activities in the Palestinian territories Maj. Gen. Kamil Abu Rokon.

Israeli sources said they only discussed economic matters, explaining that it was one of a series of meetings that brought them together in an attempt to reach a solution to the crisis.

Israel wants to reach a settlement in this matter in a way that would prevent the collapse of the PA.

Israeli Prime Minister Benjamin Netanyahu and Kahlon have earlier discussed emergency plans, should the PA’s financial system collapse over its refusal to accept tax dividends collected by Israel.

Israel has tried to transfer large sums of money to the PA, which refuses to accept them without the deducted amounts, leading to a critical financial crisis.

Israel collects around $190 million a month in customs duties levied on goods destined for Palestinian markets that transit through Israeli ports, and then it transfers the money to the PA.

In February, it decided to deduct around $10 million a month from those revenues, corresponding to the amount it said the PA paid families of prisoners or directly to inmates serving time in Israeli jails.

Palestinians responded by saying they would refuse any funds from which unilateral deductions had been made.

Brazil’s President Bolsonaro: I Do Not Understand Economics

(THIS ARTICLE IS COURTESY OF BRAZIL’S 247 NEWS)

 

Ideals For A Third Party Platform Here In The U.S.

Ideals For A Third Party Platform Here In The U.S.

 

1.) The Supreme Court decides the policy on abortion, not a politician.

2.) Guns and/or ammunition can not be outlawed from the public. To me, the only exception should be such things as machineguns. Grenades, C-4 and such weapons should be banned unless you have a specific permit to own them, like with a licensed collector.

3.) Recreational marijuana should be just as legal as alcohol, Federally! This government prohibition is just as ignorant and illegal as the prohibition of alcohol was in the 1930’s.

4.) Flat tax rate of 10% on all things, no write-offs, no exemptions, no loopholes. 6% Federal tax. 2% State tax. 1% each for County and City. I look at taxes this way, the Lord asks us to donate at least 10% toward Him which He requires us to help others with like our communities.

5.) All people running for any office must supply the prior 10 years of tax returns when they officially or unofficially announce they are ‘running’ for an Office.

6.) Mandatory retirement age for any Office of 72 years old. If a person is wanting to be elected to any office if they will turn 72 or older during that 2, 4 or 6 years then you are not allowed to be in that or any such Office. You say that is not legal that it is age discrimination, I say no, I believe you are incorrect. The reason is, you have to be a minimum of 35 to be allowed to be President. If that isn’t discrimination then neither is my idea of being to old.

Just a thought folks on what I would like to see as the Platform of a 3rd political party. so here it is.

World Bank Warns Of Severe Shock Facing Palestinian Economy

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

 

World Bank Warns of Severe Shock Facing Palestinian Economy

Thursday, 18 April, 2019 – 09:15
Ramallah – Asharq Al-Awsat
The World Bank said that the Palestinian economy is now facing a severe shock in regard of public finances as a result of Israel’s approach over tax revenues, calling for an urgent resolution of the crisis before it deepens.

This came in a report that the World Bank has prepared on Wednesday and is due to be presented to the Ad Hoc Liaison Committee (AHLC) at its next meeting in Brussels on 30 April.

The report quoted Anna Bjerde, World Bank Acting Country Director for West Bank and Gaza and Director of Strategy and Operations for the Middle East and North Africa Region, as saying: “The economy, which in 2018 saw no real growth, is now facing a severe fiscal shock because of the standoff over clearance revenue transfers.”

Bjerde stressed that “Urgent resolution is needed to prevent further deterioration of economic activity and living standards. Clearance revenues are a major source of budgetary income and the ongoing standoff is felt by all segments of the population in what is already a weak economy.”

In February, Israel decided to deduct around $10 million a month from the revenues — the sum the PA paid families of prisoners or prisoners themselves serving time in Israeli jails — prompting the Palestinians to refuse any funds at all.

“Against a background of declining aid flows, the recent standoff stemmed from Israel’s unilateral deduction of US$138 million from the PA’s clearance revenues in 2019 to offset estimated payouts to Palestinian martyrs and prisoners’ families,” the report noted.

According to the World Bank, “the clearance revenues, collected by Israel and transferred to the PA monthly, amount to 65 per cent of the PA’s total revenues. In response, the PA rejected the diminished transfers and was forced to cut the wage bill by 30 per cent, reduce expenditures in social assistance, and borrow more from local banks. If not resolved, the standoff will increase the financing gap from US$400 million in 2018 to over US $1 billion in 2019.”

“The dual-use goods system in its current application limits economic diversification and sustainable growth in the Palestinian territories. A revamp of the application of the restrictions on dual-use goods is critically needed,” added Bjerde.

The report stressed that “The Palestinian economy has witnessed low growth rates that are not able to keep up with the growth in population, resulting in an increase in unemployment and deteriorating living conditions. The absence of growth in the past year is mainly attributed to the steep deterioration in Gaza, where more than half of the population is unemployed and economic activities contracted by 7 per cent in 2018—the deepest economic downturn Gaza has witnessed that is not a result of a conflict. However, growth in the West Bank has also slowed below its recent trends.”

Trump And His IRS Screwing The Working Class Again With New Tax Laws

(THIS ARTICLE IS COURTESY OF THE USA TODAY NEWS)

 

Another tax headache ahead: IRS is changing paycheck withholdings and it’ll be a doozy

https://uw-media.usatoday.com/embed/video/39090145?sitelabel=reimagine&placement=snow-smallarticleattophtml5&keywords=taxes%2Cpublic-finance%2Cinternal-revenue-service%2Chr-block%2Ctax-refunds&simpleTarget=&simpleExclusion=&pagetype=story&cst=money&ssts=money&series=

The first tax filing season under the new federal tax law is proving to be surprising, confusing — and occasionally frightening — for some Americans, especially those accustomed to getting money back from the government. (Feb. 21) AP

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You finally finished your taxes and are learning – for better or worse – the ins and outs of the new law.

But wait, the law isn’t done with you. There’s another complication coming out later this year: The Internal Revenue Service is changing how you adjust your paycheck withholdings, and early indicators show it won’t be easy.

The agency plans to release a new W-4 form that better incorporates the changes ushered in by the new tax law so that the amount held back for taxes in each of your paychecks is more accurate.

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The agency’s goal: A taxpayer shouldn’t owe or be owed come tax time.

Gas prices: Why you should fill up on gas on Monday mornings (and never on Friday afternoons)

Travel bonus: Travel tech: Cruising with this gadget on your vacation can make for much smoother sailing

But the changes won’t be simple, says Pete Isberg, head of government affairs at ADP, the payroll and human resources company.

Filling out the new form will be a lot like doing your taxes again.

“It’ll be a much bigger pain,” he says. “The accuracy will be 100 percent, but the ease-of-use will be zero.”

What’s changing?

While the new form hasn’t been released yet, the IRS last summer put out a draft version and instructions  seeking feedback from tax preparation companies and payroll firms. Instead of claiming a certain amount of allowances based on exemptions – which have been eliminated – the draft form asked workers to input the annual dollar amounts for:

  • Nonwage income, such as interest and dividends
  • Itemized and other deductions
  • Income tax credits expected for the tax year
  • For employees with multiple jobs, total annual taxable wages for all lower paying jobs in the household

“It looked a lot more like the 1040 than a W-4,” Isberg says.

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The new form referenced up to 12 other IRS publications to fill it out. It was so complex and different from the previous W-4 form that Ernst & Young worried employees would struggle to fill it out correctly and employers may need to offer training beforehand.

Why is it taking so long?

The tax and payroll community expressed many concerns about the draft form aside from its complexity.

Many cited privacy issues because the form asked for spousal and family income that workers might not want to share with their employers. Other employees may not want to disclose they have another job or do side work outside their full-time job.

To avoid disclosing so much private information, taxpayers instead could use the IRS withholding calculator, but it’s “not easy to use and the instructions are confusing,” according to feedback from the American Payroll Association.

In September, the IRS scrapped plans to implement the new W-4 form for 2019 and instead is planning to roll it out for 2020.

What to expect

Another draft version of the new W-4 is expected by May 31, according to the IRS, which will also ask for public comment.

“We encourage taxpayers to take advantage of that opportunity and send us comments on the redesign,” says agency spokeswoman Anny Pachner.

The IRS will review the comments and plans to post a second draft later in the summer. The final W-4 version will be released by the end of the year in time for the 2020 tax year.

Once it arrives, you’ll probably need the following information on hand, says Kathy Pickering, executive director of H&R Block’s Tax Institute. That may mean lugging in past 1099 forms, paystubs or last year’s tax returns to fill it out correctly.

  • Your filing status
  • Number of dependents
  • Information about your itemized deductions such as home mortgage interest, state and local taxes, and charitable deductions
  • Earnings from all jobs
  • Information about nonwage income such as business income, dividends, and interest.

“If you’re married, and both you and your spouse work, it will also be helpful to know information about your spouse’s income,” she says.

You may also need to fill out a new state income withholding form. Many states use the current W-4 for withholding, but they may need to release their own forms, too.

Folks: How Do We Personally Believe In The Independence Of OUR OWN: Supreme Court?

Folks: How Do We Personally Believe In The Independence Of OUR OWN: Supreme Court?

 

Well Folks, do We? This is a case where 1/3 of Our National Government is in the hands and minds of just 9 of Our own People. I personally would not want to have to be a judge, at any level. Not with all the sins that I know that I have  committed. I don’t want to have to have a job of being a Judge where what the 9 of you say, is final. Folks, that’s just like being one step away, or below, God! I am not saying that this Job can’t be done, but to be Truly Independent of the Other 2 Branches of Our Government, at every level is necessary. To me, and I know that I could be wrong, but I believe that in Our Country’s Supreme Court Job Description, that Job Description is to make sure that all Laws are Constitutional! Now again, do the Nine Folks we now have on The Nations Top Court realize the weight upon each of them to be in charge of 1/3 of Our Government? Personally, there is no way, no amount of money that could get me to want that Job. Think of the pressure on all 9 of these folks to be, Honest. Has Our Nations Supreme Court become nothing but pawns of Big Politics, and Big Money? Do you have the Intelligence, and the Morals, do you Mr. Kavanaugh? What are you walking into Mr. Kavanaugh, do you really know? Well folks, as a very dear friend of mine used to say once in a while, “we shall see what we shall see.” Fore without an independent Supreme Court, there is no Democracy and as little as 9 people holds in their hands the weight of 1/3 of the Constitutional Government. Their sort of like those “Super Delegates” the Democrats been hosting, aren’t they? Except if you can totally control one of these 3 Branches of our Government, 9 people could control our Country. How much weight is on Mr. Kavanaugh? How much weight is on all 9 of these people? As I said earlier, I wouldn’t want this job no matter what the pay. When we add in the reality that another 1/3 of Our Government is in the hands of just One Person. Folks this means that 2/3 of Our whole Government is the Hands of 10 people. That is too much power if those positions aren’t filled with quality persons, now who decides what “Quality” is. Now Folks, does this help you see why I would not want to ever have to be in the place of one of these nine Folks.

Donald Trump Engaged in Suspect Tax Schemes And Outright Tax Fraud

(THIS ARTICLE IS COURTESY OF THE NEW YORK TIMES)

Trump Engaged in Suspect Tax Schemes
as He Reaped Riches From His Father

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.

President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, an investigation by The New York Times has found.

Mr. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help.

But The Times’s 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 father’s 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 parents’ 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.

These maneuvers met with little resistance from the Internal Revenue Service, The Times found. The president’s 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.

The Trumps paid a total of $52.2 million, or about 5 percent, tax records show.

The president declined repeated requests over several weeks to comment for this article. But a lawyer for Mr. Trump, Charles J. Harder, provided a written statement on Monday, one day after The Times sent a detailed description of its findings. “The New York Times’s allegations of fraud and tax evasion are 100 percent false, and highly defamatory,” Mr. Harder said. “There was no fraud or tax evasion by anyone. The facts upon which The Times bases its false allegations are extremely inaccurate.”

Mr. Harder sought to distance Mr. Trump from the tax strategies used by his family, saying the president had delegated those tasks to relatives and tax professionals. “President Trump had virtually no involvement whatsoever with these matters,” he said. “The affairs were handled by other Trump family members who were not experts themselves and therefore relied entirely upon the aforementioned licensed professionals to ensure full compliance with the law.”

[Read the full statement]

The president’s brother, Robert Trump, issued a statement on behalf of the Trump family:

“Our dear father, Fred C. Trump, passed away in June 1999. Our beloved mother, Mary Anne Trump, passed away in August 2000. All appropriate gift and estate tax returns were filed, and the required taxes were paid. Our father’s estate was closed in 2001 by both the Internal Revenue Service and the New York State tax authorities, and our mother’s estate was closed in 2004. Our family has no other comment on these matters that happened some 20 years ago, and would appreciate your respecting the privacy of our deceased parents, may God rest their souls.”

The Times’s findings raise new questions about Mr. Trump’s refusal to release his income tax returns, breaking with decades of practice by past presidents. According to tax experts, it is unlikely that Mr. Trump would be vulnerable to criminal prosecution for helping his parents evade taxes, because the acts happened too long ago and are past the statute of limitations. There is no time limit, however, on civil fines for tax fraud.

The findings are based on interviews with Fred Trump’s former employees and advisers and more than 100,000 pages of documents describing the inner workings and immense profitability of his empire. They include documents culled from public sources — mortgages and deeds, probate records, financial disclosure reports, regulatory records and civil court files.

The investigation also draws on tens of thousands of pages of confidential records — bank statements, financial audits, accounting ledgers, cash disbursement reports, invoices and canceled checks. Most notably, the documents include more than 200 tax returns from Fred Trump, his companies and various Trump partnerships and trusts. While the records do not include the president’s personal tax returns and reveal little about his recent business dealings at home and abroad, dozens of corporate, partnership and trust tax returns offer the first public accounting of the income he received for decades from various family enterprises.

[11 takeaways from The Times’s investigation]

What emerges from this body of evidence is a financial biography of the 45th president fundamentally at odds with the story Mr. Trump has sold in his books, his TV shows and his political life. In Mr. Trump’s version of how he got rich, he was the master deal maker who broke free of his father’s “tiny” outer-borough operation and parlayed a single $1 million loan from his father (“I had to pay him back with interest!”) into a $10 billion empire that would slap the Trump name on hotels, high-rises, casinos, airlines and golf courses the world over. In Mr. Trump’s version, it was always his guts and gumption that overcame setbacks. Fred Trump was simply a cheerleader.

“I built what I built myself,” Mr. Trump has said, a narrative that was long amplified by often-credulous coverage from news organizations, including The Times.

Certainly a handful of journalists and biographers, notably Wayne Barrett, Gwenda Blair, David Cay Johnston and Timothy L. O’Brien, have challenged this story, especially the claim of being worth $10 billion. They described how Mr. Trump piggybacked off his father’s banking connections to gain a foothold in Manhattan real estate. They poked holes in his go-to talking point about the $1 million loan, citing evidence that he actually got $14 million. They told how Fred Trump once helped his son make a bond payment on an Atlantic City casino by buying $3.5 million in casino chips.

But The Times’s investigation of the Trump family’s finances is unprecedented in scope and precision, offering the first comprehensive look at the inherited fortune and tax dodges that guaranteed Donald J. Trump a gilded life. The reporting makes clear that in every era of Mr. Trump’s life, his finances were deeply intertwined with, and dependent on, his father’s wealth.

Donald J. Trump accumulated wealth throughout his childhood thanks to his father, Fred C. Trump.

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.

Fred Trump’s real estate empire was not just scores of apartment buildings. It was also a mountain of cash, tens of millions of dollars in profits building up inside his businesses, banking records show. In one six-year span, from 1988 through 1993, Fred Trump reported $109.7 million in total income, now equivalent to $210.7 million. It was not unusual for tens of millions in Treasury bills and certificates of deposit to flow through his personal bank accounts each month.

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.

Much of his giving was structured to sidestep gift and inheritance taxes using methods tax experts described to The Times as improper or possibly illegal. Although Fred Trump became wealthy with help from federal housing subsidies, he insisted that it was manifestly unfair for the government to tax his fortune as it passed to his children. When he was in his 80s and beginning to slide into dementia, evading gift and estate taxes became a family affair, with Donald Trump playing a crucial role, interviews and newly obtained documents show.

The line between legal tax avoidance and illegal tax evasion is often murky, and it is constantly being stretched by inventive tax lawyers. There is no shortage of clever tax avoidance tricks that have been blessed by either the courts or the I.R.S. itself. The richest Americans almost never pay anything close to full freight. But tax experts briefed on The Times’s 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, particularly about the value of Fred Trump’s real estate, that repeatedly prevented the I.R.S. from taxing large transfers of wealth to his children.

“The theme I see here through all of this is valuations: They play around with valuations in extreme ways,” said Lee-Ford Tritt, a University of Florida law professor and a leading expert in gift and estate tax law. “There are dramatic fluctuations depending on their purpose.”

The manipulation of values to evade taxes was central to one of the most important financial events in Donald Trump’s life. In an episode never before revealed, Mr. Trump and his siblings gained ownership of most of their father’s empire on Nov. 22, 1997, a year and a half before Fred Trump’s death. Critical to the complex transaction was the value put on the real estate. The lower its value, the lower the gift taxes. The Trumps dodged hundreds of millions in gift taxes by submitting tax returns that grossly undervalued the properties, claiming they were worth just $41.4 million.

The same set of buildings would be sold off over the next decade for more than 16 times that amount.

The most overt fraud was All County Building Supply & Maintenance, a company formed by the Trump family in 1992. All County’s ostensible purpose was to be the purchasing agent for Fred Trump’s buildings, buying everything from boilers to cleaning supplies. It did no such thing, records and interviews show. Instead All County siphoned millions of dollars from Fred Trump’s empire by simply marking up purchases already made by his employees. Those millions, effectively untaxed gifts, then flowed to All County’s owners — Donald Trump, his siblings and a cousin. Fred Trump then used the padded All County receipts to justify bigger rent increases for thousands of tenants.

After this article was published on Tuesday, a spokesman for the New York State Department of Taxation and Finance said the agency was “reviewing the allegations” and “vigorously pursuing all appropriate areas of investigation.”

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. Even so, in 1990, according to previously secret depositions, Mr. Trump tried to have his father’s will rewritten in a way that Fred Trump, alarmed and angered, feared could result in his empire’s being used to bail out his son’s failing businesses.

Of course, the story of how Donald Trump got rich cannot be reduced to handouts from his father. Before he became president, his singular achievement was building the brand of Donald J. Trump, Self-Made Billionaire, a brand so potent it generated hundreds of millions of dollars in revenue through TV shows, books and licensing deals.

Constructing that image required more than Fred Trump’s money. Just as important were his son’s preternatural marketing skills and always-be-closing competitive hustle. While Fred Trump helped finance the accouterments of wealth, Donald Trump, master self-promoter, spun them into a seductive narrative. Fred Trump’s money, for example, helped build Trump Tower, the talisman of privilege that established his son as a major player in New York. But Donald Trump recognized and exploited the iconic power of Trump Tower as a primary stage for both “The Apprentice” and his presidential campaign.

The biggest payday he ever got from his father came long after Fred Trump’s death. It happened quietly, without the usual Trumpian news conference, on May 4, 2004, when Mr. Trump and his siblings sold off the empire their father had spent 70 years assembling with the dream that it would never leave his family.

Donald Trump’s cut: $177.3 million, or $236.2 million in today’s dollars.

I Am A Conservative Christian And The Evangelical Leaders Do Not Speak For Me

 

I was already planning to write an article today about the so-called Christian Right and Republican Politics and I was just putting the pieces together in my mind on how to write it. Then just before I clicked over to this platform I checked in once more to the Google news site that I read every day and found the embers on which to start my fire.  The top Google News story a few moments ago was from a Writer from the New York Times named Mike Cohen. The story line was “Evangelical Leaders Are Frustrated At G.O.P. Caution On Kavanaugh Allegation.” There was a picture of a man named Ralph Reed whom the article calls “the Social Conservative Leader”, okay, lets stop right there for a moment. Personally I consider myself to be a social conservative Christian and I personally have never heard of Mr. Reed and after reading some of his opinions I am fully sure that he does not represent me at all. I have often wondered how people here in the U.S. who call themselves Christians can possibly throw their support behind either the Democratic Party or the Republican Party. I realize that many do lean toward one Party or the other simply because our system only gives us two real choices here in the U.S. and both are obviously saturated in evil. I still believe that we voters must dump both of these evils and give the voters several more choices. For us Christians to condone the evil that is both Parties is to greatly diminish the love and the teachings of Christ whom we say we are followers of. Back in November of 2016 we all witnessed pure evil at the top of both of the Republican and the Democratic Tickets, we the people had a no win situation, many people were simply voting for what they felt was the least of the two evils. If we Christians condone that which is evil then we are and we will be counted among the evil, we must separate ourselves from them.

 

According to Mr. Reed “the Senate Republicans and the White House are not (PROTECTING) Judge Kavanaugh forcefully enough from a sexual assault allegation.” Mr. Reed goes on to say “if Republicans were to fail to defend and confirm such a (obvious and eminently qualified and decent nominee) that it will be difficult to energize the (faith-based) conservatives in November.” I have a few questions about having Mr. Kavanaugh sitting on the Supreme Court of our Country other than “just” this sexual assault case from when he was 17 years old though, but I will start my thoughts to you with this assault allegation. It appears that the events of that night became quite well-known in the school that the girl attended so it is not some just now made up story. There is a letter that has popped up now about 65 girls that Mr. Kavanaugh went to school with that are saying that he was a great guy who showed no signs of this type of behavior. My question on this is that MR. Kavanaugh went to an all boys prep school and the girl who said she was attacked by him went to an all girls prep high school. So, none of these 65 girls went to school with him, it would be a bit odd that they could have known him so well unless he was quite the ‘party animal.’

 

When Mr. Kavanaugh got his first job on the Bench his boss had a very bad reputation for sexual misconduct and in fact he resigned from the Bench because of all of the allegations against him. Mr. Kavanaugh said this past week that he was unaware of his Bosses reputation even though it was well know where he worked at. So, even now, is Mr. Cavanaugh just oblivious to the reality going on around him, is he just ignorant, or is he a liar? The New York Times also reports about how Court Clerk’s (the women) who wanted to get a job under Mr. Kavanaugh needed to have that certain “Model” look as he wanted all his female Clerks to be very good-looking. So, talent and knowledge didn’t seem to mean as much with him as a tight butt and a short skirt does seem to.

 

Now, another very important issue that is being swept under the table by the Republicans in the Senate concerning Mr. Kavanaugh is his finances and his financial records. Bank records show that he has never had more than $60,000 in the bank at any time of his adult life yet he came up with a 20% down payment on a house note of 1.25 million dollars and $107,000 entrance fee for a local Country Club. His finances do not match up with his expenses and his tax records do not match up with where he got the money for his life style. When a person is being considered for a position on the Supreme Court it is normal for the FBI to do a thorough investigation into the person, this has not been done with Mr. Kavanaugh and the Republicans who control the Senate and Mr. Trump do not want to wait long enough for the FBI to run an investigation before they want to vote him onto the Court, why? There are other hypocrisies in Mr. Kavanaugh’s writings like his opinions on the impeachment of President Bill Clinton because of his low character and how he is now willing to over look President Trumps Plethora of examples of no morals.

 

Here is what I am getting at concerning Judge Kavanaugh and concerning the so-called Christian right. First, sexual assault is something that must be taken seriously and should be investigated by the FBI being that this man is seeking a job in which he will sit in judgement of you, me, our children and grandchildren. For a so-called religious leader to act like even the possibility of such an event is something that doesn’t matter, I beg to differ with you on calling such a person a ‘Religious Leader.’ The White House and the Senate are totally treating the Supreme Court as a Political Toy when it is supposed to be totally independent of Politics all together. Procedures need to be followed, including a full FBI investigation into Judge Kavanaugh morals and sexual assault does fall into this category. Also, the FBI needs to do a full investigation into the financial back ground of Judge Kavanaugh to find out who it is that has been funneling hundreds of thousands of dollars to him and why it is that there is no record of this money on his tax reports. We the people need honesty from our government, it is obvious that there is little to no honesty in either the Congress or in the White House so it is very important for we the people to at least have some honest people sitting on the Court Benches and for them to be more than just political monkeys.

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