it’s hard to take this seriously. Money laundering is concealing the origins of money by passing it through a legitimate business. In other words, what Trump appears to be doing here is the definition of money laundering.
How does Ivanka avoid paying taxes on the money? Wouldn’t the payment show up on her income and she’d be responsible for paying the appropriate taxes?
I’m sure Daddy showed her a number of tricks.
CA tried to add a law requiring tax returns for ballot access but the law was thrown out. I assume it’s being appealed now
The payment did show up on her income, as “consulting fees,” or something like that. The Times was able to determine that it came from her father because the amount matched, to the dollar.
What Ivanka is doing to avoid (not necessarily evade) taxes, I have no idea.
By not paying his taxxes, isn’t Trump defunding the police?
Facts you don’t agree with are not “opinions”. Opinions you agree with are not “facts”.
There’s evidence he’s committed multiple instances of attempted and actual obstruction of justice. Glad to hear you’re in favor of locking him up.
This is a man who once used his charitable foundation to pay Eric’s $8 Boy Scouts fees. Do you think he’d not claim everything he could?
Trump is reporting to the IRS that he is losing tens of million dollars yearly. Are you saying that this is not true? Is he using some loophole to make it look like he is a business failure while he is really making money?
Fake news!!! It was $7.
“In 1989, @realDonaldTrump apparently used a charity’s money to pay his son’s $7 registration fee for the Boy Scouts,” tweeted Washington Post reporter David Fahrenthold, linking to an October 2016 report in which he looked into Trump’s philanthropy record, which the businessman regularly boasted about in public.
Both can happen or be true at the same time, as long as someone sees a reason to give you cash.
The question is, knowing his history as a colossal failure in running businesses, who would give the Trump organization cash? The ability to generate cash and the ability to be profitable are two different things entirely.
Who are Trump’s “investors” and what are the “investing” in? I doubt he’s dealing with investors who are interested in realizing a financial profit; they’re interested in something else.
This too is a different discussion. I am simply saying that if you are a business person and see a way to save on taxes that is legal, you should do it. MSNBC/CNN of course either minimizes this idea, or just doesn’t mention it at all, so they can leave the impression that Trump is cheating: “OH MY GOD, TRUMP ONLY PAID $750 IN TAXES!!!”
In fact, only Seth Meyers, on his late night show, acknowledged the idea yesterday that I saw, other than on FOX.
I’m sorry, I thought it was a cited claim in the link, but I guess not. I’ll hunt for one.
Trumpers would respond to that with this: Yeah, see, that just proves how crooked Hussein is & how he used the White House to get rich. Trump doesn’t need to do that, he was rich before he was president.
There are indeed problems with the tax code, but I don’t see anything inherently wrong with someone not paying taxes if they didn’t actually earn any income. In fact if someone were to tell me that Donald Trump or the Trump organization were generally compliance with the internal revenue code, I might actually be willing to at least give him/them the benefit of the doubt – because I believe it’s entirely possible that Donald Trump isn’t making that much money. He’s getting a lot of cash and a lot of revenue, and he’s also spending a lot of it. That’s a scenario I believe. That’s a scenario that actually seems plausible.
What’s less plausible is that he is a good businessman. That seems highly unlikely.
What’s less plausible is that he has a net worth in excess of a billion. I think that is also highly unlikely, and that number is probably based on an estimate of what people with (limited) access to his financials assume his properties to be worth. Until the release of his debt records, they didn’t know how much he owed. Now they know he’s probably not much of a billionaire at all - and never was. But we probably knew this already, eh?
What’s less plausible is that he has investors; instead, what is actually far more likely, is that anyone who is “investing” in Trump is not investing to realize financial benefit, but rather, they are investing for the same reason that companies and individuals make political campaign contributions: they are investing in power.
To some extent, you could argue that banks are “investing” in his illegitimate business. You could argue that oligarchs engaged in illegal or barely legal enterprise are using his properties to hide their own ill-gotten gains. So it’s a quid pro quo: Trump and oligarchs agreeing to do business together for nefarious purposes.
That’s the story here. Focus less on the issue of taxes and fairness - that’s important, but not the issue. The issue is, what did the President of the United States agree to do in order to keep his cash coming in for his own personal benefit? What leverage do people in foreign governments have over him? That’s the alpha and omega of the discussion, folks.
Fuck the impression that he’s cheating… he’s the leader of the party that shits all over millions of people labeling them freeloaders and demanding they have “skin in the game” because of how “little” tax they pay and it turns out he pays a fucking pittance in taxes, when he actually does pay taxes.
Where are these sacks of crap now that Dear Leader is shown to pay even less taxes, on a strict dollar level, than the people they’ve been complaining about?
No disagreement, but I never saw the issue of Trump paying $750 as fodder for tax code debate, because that’s not really the story here. Talking about tax fairness isn’t the issue that we should be talking about as a result of these revelations. He’s a shitty businessman who made no money - I believe it. He might actually be in compliance. No different than some guy who couldn’t find work for 6 months except Trump gets a lot more opportunities to generate cash and he can liquidate assets to, again, get more cash. The unemployed guy who’s outta work for 6 months can’t find someone to loan him money. No job. No collateral. Nothing marketable to sell to anyone. He’ll end up on the street or on someone’s couch if he’s lucky, but that’s a different discussion.
The real issue is, what did Trump agree to give away?
That’s great up until the point that your entire campaign was built on the premise that undocumented immigrants are coming into the country and not paying their taxes. When it turns out that they are paying more taxes than you are, that’s pretty damn relevant.
I think we all agree that Trump is a horrible person, and horrible for America. My post is not really about Trump at all in the end. It’s about some media orgs and their refusal to report all the facts on an issue. Essentially, they are lying to us when the omit certain things so they can crank up their propaganda machines in order to get rid of Trump. To be clear, I want to be rid of him. I don’t understand why some people though, don’t like being lied to by FOX, but are okay with it from others.
AIUI, Ivanka was paid “consulting fees” while she was on the payroll of the same organization. That’s a possible end run around payroll taxes and allows her to take deductions that she would not ordinarily be entitled to.
As I noted, even before this exploded, Trump is taking credit for all the efforts that governments are doing to deal with the pandemic and economical downturn. Easy for him to do when he is mostly using other people’s money.
Now as it turns out, it is worse than that; of all the money that he is swindling from taxpayers, virtually none was his.
He’s been living off other people’s money his entire life. The Republican party finally found their welfare queen.