Former Watergate prosecutor predicts Trump and Ivanka may end up behind bars

[ace3csusm]

Ivanka's 2017 financial disclosures show she received a $747,622 payment from a consulting company called "TTT Consulting," which she apparently co-owned with other family members. That figure matches the exact amount that her father wrote off as tax deductions for consulting fees on two Trump Organization hotel projects from the same year.

The arrangement, Akerman said, raises questions about a possible effort on the president's part to reduce his business' tax liability by not compensating family members directly. Because Ivanka was already an employee of the Trump Organization, he said, he could think of "no legitimate reason" as to why her father would have paid her in such a manner.

[link:https://www.salon.com/2020/09/30/no-question-about-it-former-watergate-prosecutor-predicts-trump-and-ivanka-may-end-up-behind-bars/|

[ace3csusm]

1. I think they where trying to avoid bonus taxes

Which are usually taxed at a higher rate...

[marybourg]

3. And Estate Tax

[PTWB]

13. They're not taxed at a higher rate.

The withholding is typically at a higher rate - but come tax time, bonuses and regular wages are equal.

[lunasun]

2. Lock them up

[lpbk2713]

4. That's good news.

Even if it doesn't come to pass I'd still like to see them sweat a little bit.

[lunatica]

5. So they should look at her taxes for that year

and see if she paid taxes.

[RKP5637]

6. That would be delightful! n/t

[BigmanPigman]

7. Double dipping basically.

[Shermann]

8. The payment is exorbitant and to a sham business

It's obvious, but may be difficult to prove at the same time. How do you stop a rich guy from intentionally overpaying a relative on the payroll??

[Initech]

9. Throw Jared in there with them!

[BlueWavePsych]

10. Christmas gift ...

[llmart]

11. Oh, I would take such delight in seeing Princess behind bars.

Hey, if Martha Stewart can do time, so should Princess.

[Jarqui]

12. Trump will attempt to pardon himself which will be hard to make stick

But he can pardon his children, which I think he will, and I think they'll have a tough time overturning that.

[ace3csusm]

14. I think they have to be accussed of a crime first

He now has a dilemma does he allow Barr to investigate his kids so he can pardon them? I guess he has Nov4th- Jan20th to let that happen...

[Jarqui]

16. I don't think so.

Nixon was pardoned without having been indicted :

https://watergate.info/1974/09/08/text-of-ford-pardon-proclamation.html

Now, THEREFORE, I, GERALD R. FORD, President of the United States, pursuant to the pardon power conferred upon me by Article II, Section 2, of the Constitution, have granted and by these presents do grant a full, free, and absolute pardon unto Richard Nixon for all offenses against the United States which he, Richard Nixon, has committed or may have committed or taken part in during the period from January 20, 1969 through August 9, 1974.

He probably cannot pardon himself - though he'll probably try - but he can pardon his children.

However, his pardon is limited to federal crimes. He and his children cannot escape prosecution for state crimes with a pardon from the President. It's part of the reason why a Manafort pardon would not help his cause.

[ace3csusm]

21. Thanks learned something new

[Jarqui]

24. It helps to explain his desperation

If he does not win reelection, he cannot use the powers of the White House to hold off prosecution ... and a bunch of his crimes are within the 5 year statute of limitations.

I cannot recall any politician having more on the line.

[TheFarseer]

15. I'm trying to follow this

So doesn’t TTT pay the taxes instead? What happens to that income they booked? It sounds illegal as hell. I’m just trying to figure out what exactly is the benefit.

[ace3csusm]

20. They will treate it like regular income and then reduce it with expenses

If it went to Ivanka and family it should have been classified as a bonus since they are employees, bonus are usually taxed at a higher rate then normal salary. By treating it as a consultant fee Trump reduces his Revenue and that income can be reclassified and reduced against expenses. A bonus can't be reduced from taxes i believe it has to be taxed at value...

[TheFarseer]

23. Thanks

So it sounds like with this scheme, they tax it at a lower corporate tax rate instead of marginal tax rate for personal income. I believe bonuses are withheld at a higher rate but ultimately taxed at marginal tax rate. Knowing the Trumps, TTT pays a lot of expenses that are really personal expenses for Ivanka and reduces that income to zero.

[electric_blue68]

17. 😆 Oooo! Believe when seen, tho 👍

[Poiuyt]

18. Even though it's justified, it will never happen.

Prosecutors know that this would create massive civil unrest with violence.

[bullwinkle428]

19. Exactly. As I've said several times on this board, no one with the last name of

"Trump" or "Kushner" will ever spend a single day behind bars for anything.

[steve2470]

22. agreed

They will skate, with some lame excuses given.