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Trump Timeline ... Trumpocalypse
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Wha??? scales say it ain't so.
Kavanaugh accuser Swetnick faces credibility questions amid changing story, details from past
Kavanaugh accuser Swetnick faces credibility questions amid changing story, details from past
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Swetnick’s ex-boyfriend, Richard Vinneccy, told Fox News' “The Ingraham Angle” Monday that she had threatened to kill his unborn child. He also said that although they dated on-and-off for seven years, she never mentioned her Kavanaugh claims to him, and was known for wanting to be the center of attention.
“She was exaggerating everything. Everything that came out of her mouth was just exaggerations," he said.
“She was exaggerating everything. Everything that came out of her mouth was just exaggerations," he said.
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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.
These maneuvers met with little resistance from the Internal Revenue Service, The Times found. The president’s parents, Fred and Mary Trump, transferred well over $1 billion in wealth to their children, which could have produced a tax bill of at least $550 million under the 55 percent tax rate then imposed on gifts and inheritances.
The Trumps paid a total of $52.2 million, or about 5 percent, tax records show.
In Donald J. Trump’s version of how he got rich, he was the master dealmaker who parlayed an initial $1 million loan from his father into a $10 billion empire. It was his guts and gumption that overcame setbacks, and his father, Fred C. Trump, was simply a cheerleader.
But an investigation by The New York Times shows that by age 3, Donald Trump was earning $200,000 a year in today’s dollars from his father’s empire. 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 he graduated from college, he was receiving the equivalent of $1 million a year from his father. The money increased with the years, to more than $5 million annually in his 40s and 50s.
In all, financial records reveal, Mr. Trump received the equivalent today of at least $413 million from his father’s real estate empire.
Here are four ways that Fred Trump made his children rich.
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Since Donald Trump first refused to release his income tax returns, his campaign and then his presidency have been suffused with questions about the extent and sources of his wealth, questions that have only intensified with the Russia investigation. The Times’s new reporting reveals little about his recent business dealings. But the investigation — based on a vast trove of confidential tax returns and financial records, and at more than 13,000 words one of the longest investigative articles ever published in The Times — offers the first comprehensive examination of the inherited fortune and tax dodges that guaranteed Mr. Trump a gilded life.
Here are some key takeaways.
1. The Trumps’ tax maneuvers show a pattern of deception, tax experts say ...
2. Donald Trump began reaping wealth from his father’s real estate empire as a toddler ...
3. That ‘small loan’ of $1 million was actually at least $60.7 million — much of it never repaid ...
4. Fred Trump wove a safety net that rescued his son from one bad bet after another ...
5. The Trumps turned an $11 million loan debt into a legally questionable tax write-off ...
6. Father and son set out to create the myth of a self-made billionaire ...
7. Donald Trump tried to change his ailing father’s will, setting off a family reckoning ...
8. The Trumps created a company that siphoned cash from the empire ...
9. The Trump parents dodged hundreds of millions in gift taxes by grossly undervaluing the assets they would pass on ...
10. After Fred Trump’s death, his empire’s most valuable asset was an I.O.U. from Donald Trump ...
11. Donald Trump got a windfall when the empire was sold. But he may have left money on the table. ...
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https://magadoodle.com/it-begins-tom-cotton-confirms-dianne-feinsteins-worst-nightmare-reveals-gop-plan-to-settle-score/
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