General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhoever Owns Trump's Enormous Debts Could Be Running the Country
At long last, the New York Times has the presidents tax records.by David Atkins
September 28, 2020
At long last, the New York Times has Donald Trumps tax returns. The picture they paint, put shortly, is one of epic financial malfeasance, likely criminal tax avoidance on a massive scale, probable bank fraud, opulent living at taxpayer expense, unethical self-dealing and wild recklessness more becoming a buffoonish French aristocrat or drunken sailor than a prudent businessman. Donald Trumps approach to business and tax compliance appears to have been the same as his approach to politics: tell outrageous lies, play the government and creditors for fools, steal everything not nailed down today, figure out how to solve tomorrows consequences tomorrow, and already be onto the next con before anyone can catch him on the last one.
But despite its potential to land the entire Trump family in penury and jail, what is far more terrifying for the country isnt what lies in his past of tax avoidance. Its the time bomb of debt that lies in Trumps very near future. Its about the mystery of who owns Trumps outlandish debts, and the degree of secret power they may be wielding over the country.
The particulars of the Trump grift are sickening in both the details and grand scope. Its not just an issue of his class: the scale of his tax avoidance far dwarfs that of most others in his income bracket. Despite posturing as a billionaire, Trump paid only $750 in taxes for the years 2016 and 2017. He tried to use the same trick to offload tens of millions in tax burdens by claiming business losses twice in as many decades, except that the second time he actually still retained partial ownership of the underlying business, and has been in a $72 million battle with the IRS for a decade ever sincea battle he should lose by all rights. His daughter Ivanka was hired as a consultant for the same work she was doing in her main joban obvious and incredibly stupid tax-avoidance grift that could easily land her jail. He (likely illegally) deducted $70,000 in hair care for his TV show. And so on.
Keep in mind, though, that this is just what we know of from his own personal reporting to the IRS. Its not a forensic accounting document. These financial statements are Trumps best foot forward to the government, with no knowing what criminal rot lies in the details.
snip
https://washingtonmonthly.com/2020/09/28/a-national-nightmare-whoever-owns-trumps-enormous-debts-could-be-running-the-country/
Zoonart
(11,849 posts)genxlib
(5,524 posts)Everything wrong with these documents represent what he was willing to submit to the IRS. Imagine what is behind the scenes.
lagomorph777
(30,613 posts)Talk about a colossal failure!
enough
(13,256 posts)DeminPennswoods
(15,278 posts)nt
yardwork
(61,588 posts)The Magistrate
(95,244 posts)Cirque du So-What
(25,928 posts)Its a bad scenario.
crickets
(25,962 posts)Klaralven
(7,510 posts)Gulf States sovereign wealth funds would be what I'd look for.
I think that the Moscow deal fell through.
dalton99a
(81,451 posts)SoonerPride
(12,286 posts)I think that much is patently clear.
We have a term for that.
It is called treason.
cbdo2007
(9,213 posts)decisions (including SC confirmations) until we can get this sorted out?
NightWatcher
(39,343 posts)Wounded Bear
(58,647 posts)Who has $300-400 million in leverage over our president?
Enquiring minds want to know.
Finally nailed by the IRS for tax fraud.
May it be so.
Bayard
(22,061 posts)As to why he couldn't release his tax returns--"$72 million battle with the IRS"?
No, he should not be able to make any more executive proclamations, no Supreme justice for sure. I am most concerned about the classified info he has, especially between Nov.-Jan when he's kicked out. Hell--impeach him again!
He is thoroughly compromised, and has been all along.