The President as a self made tax cheat

[CaughtInTheMiddle]

Has anyone here heard of “The Codfather” (Carlos Rafael)? If you haven’t Google him. He and Donald Trump are the exact same person.

[zantax]

@Jezcoe

@zantax

@DOLOOP

@zantax

I hope nobody tells the Times my house is grossly undervalued for tax purposes. I mean it’s legal but that apparently doesn’t matter, if they ever find out I sell it for many times it’;s assessed value I am going to be in trouble with the Gray Lady.

In my jurisdiction there’s an assessor whose job it is to make the determination of the value. I don’t do it myself, hence I don’t run the legal risk of it being undervalued.

Kinda cool that you get to do that yourself. I hope your risk is rewarded.

If New York law allowed Trump to estimate the value, I assume that applied to everyone. But of course, that has to be revisited now, in light of his having the wrong letter by his name on the ballot.

I wonder what the New York law is for having a three year old on the payroll for $200,000 a year might be.

I imagine it’s frowned upon. Is that what happened because the Times story said this about it.

from Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father - The New York Times

By age 3, Mr. Trump was earning $200,000 a year in today’s dollars from his father’s empire.

“earning from” and “on the payroll” are not the same things as next few sentences make clear.

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.

[armycowboy]

Well if nothing else, we now know the story about Trump borrowing $1 million from his dad and building an empire, is complete ■■■■■■■■■

[zantax]

As in example, if I give my child a gift of ten thousand dollars worth of Apple stock which then goes on to grow in value to two hundred thousand dollars, as far as the tax man is concerned, I didn’t give them 200k, I gave them the allowable 10k.

[calirepub]

I think you should fix that filter bypass.

[CaughtInTheMiddle]

It’s kind of funny that many of the yokels in the south that are all in for Trump won’t ever earn what 3yo Trump earned.

Suckers.

Oh, and the fact that 50yo Trump was receiving $5 million a year from daddy is the icing on the cake. Self made man.

[armycowboy]

@CaughtInTheMiddle

It’s kind of funny that many of the yokels in the south that are all in for Trump won’t ever earn what 3yo Trump earned.

Suckers.

Oh, and the fact that 50yo Trump was receiving $5 million a year from daddy is the icing on the cake. Self made man.

Evidently his dad had to bail him out several times when his deals went south on him.

[zantax]

@CaughtInTheMiddle

It’s kind of funny that many of the yokels in the south that are all in for Trump won’t ever earn what 3yo Trump earned.

Suckers.

Oh, and the fact that 50yo Trump was receiving $5 million a year from daddy is the icing on the cake. Self made man.

Why should they care what his father gave him? I don’t.

[armycowboy]

@zantax

It’s kind of funny that many of the yokels in the south that are all in for Trump won’t ever earn what 3yo Trump earned.

Suckers.

Oh, and the fact that 50yo Trump was receiving $5 million a year from daddy is the icing on the cake. Self made man.

Why should they care what his father gave him? I don’t.

Because he lied to you. Again. However you’ve made it clear character doesn’t matter to you.

[Jezcoe]

@zantax

@CaughtInTheMiddle

It’s kind of funny that many of the yokels in the south that are all in for Trump won’t ever earn what 3yo Trump earned.

Suckers.

Oh, and the fact that 50yo Trump was receiving $5 million a year from daddy is the icing on the cake. Self made man.

Why should they care what his father gave him? I don’t.

Do you care that Fred Trump created a corporation to purchase equipment and supplies for his buildings, never purchased anything with that corporation, gifted tax free the supplies to that corporation, had the corporation mark up those tax free gifts and then use that mark up as an excuse to raise rents on housing that was subsidized by federal tax dollars?

Then…after making a fortune in part through government largess do everything possible to avoid paying taxes to the very entity that helped in the Trump family success?

[CaughtInTheMiddle]

Here’s the best part…

Can anyone here NOT make a bunch of money if daddy gives you a mint and bails you out over and over?

[Jamerican]

His excuse back then was that he was under an audit, however the IRS cam back and said that still should not keep him from revealing his tax returns. People can say whatever they want to protect and defend their lord and savior, but he’s hiding something.

[Jezcoe]

I like the buying of millions of dollars of chips to bail out his casino for a little bit.

That’s not a tax free gift or nothing.

[Demon]

Just good, brilliant land-lording. How are you supposed to make money on rent controlled apartments if you don’t cheat a little?

[CaughtInTheMiddle]

My guess is Donald Trump used the same scams with his own kids. Like father like son.

[Jezcoe]

I am shocked that no one wants to really defend this

I mean when a father buys into a sons business for over $15 million and later sells it to an undisclosed buyer for $10,000 thereby taking a loss… what’s not to like?

[CaughtInTheMiddle]

@Jezcoe

I am shocked that no one wants to really defend this

I mean when a father buys into a sons business for over $15 million and later sells it to an undisclosed buyer for $10,000 thereby taking a loss… what’s not to like?

Daddy ran the company into the ground.

[Jezcoe]

@zantax

As in example, if I give my child a gift of ten thousand dollars worth of Apple stock which then goes on to grow in value to two hundred thousand dollars, as far as the tax man is concerned, I didn’t give them 200k, I gave them the allowable 10k.

Set up a corporation with your heirs as the owners to sell things to your main business at a markup on the average of around 25% to siphon money away from the main business into your heirs pockets tax free.

And then… use that price increase as a justification to increase rents.

Then… then… we might be reaching some sort of parity in what you are arguing.

[Jamerican]

He pulled himself up by his father’s boot straps. Must be nice. it was always preached to me and my community have some self responsibility, pull yourself up your own boot straps and stop waiting for a hand out. Guessing 45’s way is much more cooler and permissible.

[LouC]

@peek-a-boo

@LouC

God love ya, you are such a cute little brainwashed Trumpette.

God love ya, you are such a cute little brainwashed Trump-hater.

But I don’t hate Trump. Never have. Never will. Despite his having declared me his enemy.

But neither will I ever be one of his political whores, that he can have his way with, and then he has them coming back for more.