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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBREAKING: NYTimes: 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 todays dollars from his fathers 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 Timess 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 fathers 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.
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 Timess 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 fathers 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.
https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html?action=click&module=Top%20Stories&pgtype=Homepage
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BREAKING: NYTimes: Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father (Original Post)
spanone
Oct 2018
OP
dalton99a
(81,574 posts)1. Kick
Chickensoup
(650 posts)2. The con is a mafia boss and belong in jail.
eleny
(46,166 posts)3. With Kavanaugh on the Court nothing will be done about it until he's out of office
underpants
(182,879 posts)4. His sister is a Federal Judge
Just saying.
Takket
(21,625 posts)5. i'm shocked.... shocked i tell you
uponit7771
(90,364 posts)6. K&R, "set up sham corporations" Prolly what the Russians have on him too