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Thread: NYT Investigation Into Trump's Fortune

  1. #1

    Default NYT Investigation Into Trump's Fortune

    Remember the "small" loan of 1 million dollars Trump got from his dad to establish himself as a business man? It turned out to be off by a lot. An investigation by The New York Times revealed a lot about Trump and his money, and it turned out that he received in total of 413 million dollars from his dad's fortune.
    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.

    The investigation piece was the longest ever published by the New York Times, and the New York regulators are examining the claims its making:
    New York City officials said on Thursday that they had joined state regulators in examining whether President Trump and his family underpaid taxes on his father’s real estate empire over several decades.

    The announcement came in response to an investigation published this week in The New York Times that showed how Mr. Trump had participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents.

    “We are now just starting to pore through the information,” said Dean Fuleihan, the city’s first deputy mayor.

    One type of tax that the city will examine is the real estate transfer tax. Officials said the extremely low valuations the Trump family placed on buildings that passed from Fred C. Trump to his children through trusts could have resulted in underpaid transfer taxes.
    Through out his campaign Trump advertised himself as a self-made billionaire with little (though admittedly in his words with 1 million dollars) help from his parents. What's getting obvious day by day is that the president of the USA is practically a conman. This investigation is a major news development, but apparently nobody got time for that.

    Can a president be fined during his presidency for tax evasion? How do you think Republicans will try to sugarcoat it this time?
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  2. #2

    Default Re: NYT Investigation Into Trump's Fortune

    Quote Originally Posted by Setekh View Post
    Can a president be fined during his presidency for tax evasion?
    1) A president cannot be fined due to immunity, regardless of the crime. 2) The crime is so long past it cannot be prosecuted anymore, even if Trump hadn't immunity.

    And apart from all that: Trump lying? A billionaire who acquired his wealth through questionable means? I'm shocked. I lost my cup of coffee when I heard the "news".

  3. #3
    Beorn's Avatar Praepositus
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    Default Re: NYT Investigation Into Trump's Fortune

    I mean, even the most idiotic Trump supporters already knew that he was a liar, a con-man and a hot piece of , right? Isn't this the reason they could relate and vote him?

  4. #4

    Default Re: NYT Investigation Into Trump's Fortune

    Quote Originally Posted by Beorn View Post
    I mean, even the most idiotic Trump supporters already knew that he was a liar, a con-man and a hot piece of , right? Isn't this the reason they could relate and vote him?
    Nah, they voted for him because Democrats managed to be worse.

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    Vanoi's Avatar Comes Limitis
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    Default Re: NYT Investigation Into Trump's Fortune

    Quote Originally Posted by Cookiegod View Post
    1) A president cannot be fined due to immunity, regardless of the crime. 2) The crime is so long past it cannot be prosecuted anymore, even if Trump hadn't immunity.
    Since when do Presidents have immunity from past crimes?
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  6. #6
    Katsumoto de Voltaire's Avatar laughs boisterously
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    Default Re: NYT Investigation Into Trump's Fortune

    Soros and Rothschild are not the topic of the thread.

  7. #7
    Harith's Avatar Campidoctor
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    Default Re: NYT Investigation Into Trump's Fortune

    Quote Originally Posted by Cookiegod View Post
    1) A president cannot be fined due to immunity, regardless of the crime.
    That's outright false. A president is immune from civil lawsuits in Federal Courts relating to his actions as President. This has nothing to do with his actions as president nor is it a Federal Court.

    We already have ruling that corroborates this case:

    The decision by Justice Jennifer Schecter of the New York state court in Manhattan in favor of California restaurateur Summer Zervos, a former contestant on NBC’s “The Apprentice,” raises the prospect that Trump might have to answer embarrassing questions in court about his behavior toward women. She rejected Trump’s claim that he was immune from being sued, finding “absolutely no authority” to dismiss litigation related “purely to unofficial conduct” solely because he occupied the White House.
    Quote Originally Posted by Cookiegod View Post
    2) The crime is so long past it cannot be prosecuted anymore, even if Trump hadn't immunity.
    That maybe true.

    Some of the Trumps’ tax evasion maneuvers uncovered by The Times warranted investigation as potential crimes, former prosecutors said, but the statute of limitations on any such charges has long since expired.
    But if I know Americans, they will punish you one way or another:

    Another state agency is looking into whether tenants in Fred Trump’s rent-regulated apartments saw their rents unduly increased because the Trumps used the padded All County invoices to apply for rent increases, as The Times found. State regulations allow owners of rent-regulated buildings to apply for increases to recover the “actual and verified cost” of some improvements to buildings, said Freeman Klopott, a spokesman for the State Division of Housing and Community Renewal.
    The inquiries will explore whether civil penalties and bills for back taxes are warranted. City officials said interest and penalties of up to 25 percent could be added to any unpaid taxes.
    So it certainly will be a cause of unnecessary headache for Trump.

    Quote Originally Posted by Cookiegod View Post
    And apart from all that: Trump lying? A billionaire who acquired his wealth through questionable means? I'm shocked. I lost my cup of coffee when I heard the "news".
    Many, if not almost all, of the rich do this sort of nasty tax evasion and schemes. That doesn't excuse Trump however, and since he is president, he should naturally expect more scrutiny.

    Yelling "But they do it too!" is not an justification.

    Quote Originally Posted by Heathen Hammer View Post
    If we start nitpicking on Trump's wealth, then the same should be done to Democratic establishment and its financial sugar daddies as well.
    Sure, have Fox News or Britbart do year long investigations this thorough and have them present it to the public and relevant authorities so we can close those loopholes and make the rich pay what they should by law.

    Quote Originally Posted by Heathen Hammer View Post
    Otherwise, this is nothing but yet another mass media hit piece, based on conjecture and evidence-less claims.


    Whether or not others are scrutinized does not compromise the validity of the claims, which are thorough and plentiful.
    Last edited by Harith; October 06, 2018 at 01:25 PM.

  8. #8
    irontaino's Avatar Deadass B
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    Default Re: NYT Investigation Into Trump's Fortune

    Add that to the laundry list. The Trumps have always been shady, a lot of that baggage came to light during the election and as president. Even early in his career, him and his father were run of the mill shady landlords, even down to refusing to rent out properties to black people
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  9. #9

    Default Re: NYT Investigation Into Trump's Fortune

    Quote Originally Posted by Harith View Post
    That's outright false. A president is immune from civil lawsuits in Federal Courts relating to his actions as President. This has nothing to do with his actions as president nor is it a Federal Court.
    Happy to be corrected if what you say is true. I assumed the immunity was for everything, but may be wrong.
    Quote Originally Posted by Harith View Post
    But if I know Americans, they will punish you one way or another
    True that, yet the opposite is also true: Some get ridiculous plea deals or settle. Like he did with with his Trump University scam.
    Quote Originally Posted by Harith View Post
    So it certainly will be a cause of unnecessary headache for Trump.
    Dunno. I kinda feel like he's probably gotten used to this.
    Quote Originally Posted by Harith View Post
    Many, if not almost all, of the rich do this sort of nasty tax evasion and schemes. That doesn't excuse Trump however, and since he is president, he should naturally expect more scrutiny.

    Yelling "But they do it too!" is not an justification.
    I didn't justify it and didn't excuse Trump. I'm saying this is so unsurprising it doesn't meet what I'd call news.

    Imagine a world where honest people like Rand Paul, Tulsi Gabbard and Bernie Sanders were the norm instead of the outliers in those thoroughly corrupted parties. *sigh*

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