At first glance, the income-tax data released this week by a House committee seems to show a turnaround in 2018 for former President Donald J. Trump. After a decade in which he declared no taxable income, his 2018 return reported taxable income of more than $24 million. He paid nearly a million dollars in federal income taxes.
In fact, his year in the black appears to have resulted largely from the final windfall of the vast inheritance that financed much of his business career — more than $14 million in gains from the sale of his father’s 1970s investment in the Brooklyn housing development of Starrett City.
But precedent soon reasserted itself. Because of business losses, he paid no income taxes in 2020, his last year in the White House.
That year, after obtaining more than two decades of Mr. Trump’s tax returns, The New York Times traced the boom-and-bust arcs that had marked his financial history: dubious tax avoidance, huge losses and a life buttressed by an inherited fortune. The newly released tax information, from 2015 to 2020, shows how that pattern extended through his years in Washington.
His tax rate from his income of 24 million is astoundingly low. He made 24 million in income and paid 1 million in federal taxes. I wish I could get that sort of tax rate.Trump’s Taxes: Red Flags, Big Losses and a Windfall From His Father (Published 2022)
The presidency of Donald J. Trump, a congressional report reveals, was marked by some of the same questionable tax maneuvers that had characterized his business career.www.nytimes.com
Damn Weisselberg to serve 5 months at Rikers Island. Guess he wish he did throw the orange monkey fully under the bus
Rickers ain't no picknick. Better watch his cell.Sentence isn't enough, obviously. But I'm not sure he survives the full term at 75.
Rickers ain't no picknick. Better watch his cell.
Seems to be what happens when you work for a Svengali criminal psychopath.Agree. I think he either declines in health rapidly or something happens to him.
But I do think it's funny that in the one instance (so far) where they've had a rat and it was all "this is really gonna be the one that gets him!!!!" and the rat gives up almost nothing of value that implicates anyone else (no, Trump Org doesn't count) and gets off with basically the lightest sentence possible.
Sentence announced. Maximum $1.6 million fine levied
The beginning of the end of Trump Org.Essentially a parking ticket ...
The beginning of the end of Trump Org.
Trump Org fined just $1.6M for tax crimes — but experts say "it spells doom" for the company | Salon.com
Legal experts predicted the fallout from Friday's sentencing is likely to go beyond the fine.
Former U.S. attorney and UCLA Law professor Harry Litman wrote that the "collateral financial and practical consequences could be far greater," than the relatively small financial penalty.
They are fooling themselves. Everyone, and I mean everyone, that does business with Trump already knows that they are dealing with a criminal enterprise. They literally got fined for less than they saved with this scheme. Everyone should commit tax fraud in NY.The beginning of the end of Trump Org.
Trump Org fined just $1.6M for tax crimes — but experts say "it spells doom" for the company | Salon.com
Legal experts predicted the fallout from Friday's sentencing is likely to go beyond the fine.
Former U.S. attorney and UCLA Law professor Harry Litman wrote that the "collateral financial and practical consequences could be far greater," than the relatively small financial penalty.
Jesus, that's kind of like telling people the Supreme Court is biased.They are fooling themselves. Everyone, and I mean everyone, that does business with Trump already knows that they are dealing with a criminal enterprise. They literally got fined for less than they saved with this scheme. Everyone should commit tax fraud in NY.
My guess is that then penalties are statutory.Yeah tbh that fine seems like a joke considering the scope of the crimes and of the investigation. It's peanuts, and they should have done better penalty-wise.
Trump did so more than 400 times during the course of the full interview, according to a New York attorney general court filing. After the deposition concluded, Trump issued a public statement saying that he had exercised his Fifth Amendment right and refused to answer.
The fun part of all this is that, because this is a civil case, to the jury it is allowed to be seen as an admission of guilt.didn't he say a while back that only the guilty plead the fifth?
Video of Trump deposition in New York fraud probe shows former president taking the Fifth, repeating "same answer"
Exclusive: CBS News obtained video of a portion of the deposition, which includes Trump saying, "Anyone in my position not taking the Fifth Amendment would be a fool."www.cbsnews.com
Sure Weisselburg’s testimony was the deciding factor, the orange monkeys lack of a defense had to have influenced the jury.The fun part of all this is that, because this is a civil case, to the jury it is allowed to be seen as an admission of guilt.
I get it. But it seems almost every day theres more and more evidence against Trump. How much do they need?White collar crime is hard to prosecute—especially when the “victim” of the crime is the government or taxpayers more generally.
How can you announce to the world how tolerant and liberal you are if you don't let criminals walk all over you?I get it. But it seems almost every day theres more and more evidence against Trump. How much do they need?
indictments have been right around the corner for 9 months-
Trump Prosecutors See Evidence for Bringing Obstruction Charges - Bloomberg
January 6 panel’s body of work boosts DoJ case against Trump, experts say | US Capitol attack | The Guardian
For experts, the evidence in two probes compels charging Trump | The Hill
DOJ lays out strongest obstruction evidence against Trump yet (usatoday.com)
ad nauseum