You Pay More In Taxes than Donald Trump

In recent years, Donald Trump paid the IRS $750 in income tax, except in those years when he paid absolutely nothing, records obtained by the New York Times show. He apparently paid 200 times more in taxes to India and the Philippines than U.S. income tax in 2017.

He appears to have paid daughter Ivanka $750,000 in consulting fees while she was also an employee of the Trump Organization. His claim about an IRS audit seems to hinge on his questionable $73 million tax refund in 2010 — a refund to someone who paid no taxes. His charitable write-offs consisted of not developing properties he owns. Mr. Trump’s responds to these revelations by repeatedly whining that”the IRS treats me very badly,”

“Donald Trump’s financial records are the Rosetta stone for understanding the depth of his corruption and crimes,” former Trump attorney Michael Cohen told Yahoo News:

“The more it is unraveled, the more he will unravel. It’s the reason he’s fought so hard to keep it under wraps.”

“His biggest fear is … he will end up with a massive tax bill, fraud penalties, fines, and possibly even tax fraud ….”

More:

“Long-Concealed Records Show Trump’s Chronic Losses and Years of Tax Avoidance,” Russ Buettner, Susanne Craig and Mike McIntire, New York Times

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NY Prosecutors Get to See Trump’s Taxes

In the last day of the session, the Supreme Court ruled that President Donald Trump cannot block New York State prosecutors from examining his tax documents and presenting their findings to a grand jury. Grand jury proceedings are confidential, so don’t expect to see details in the news before election day. Nevertheless, Mr. Trump Twitter-screamed in all caps about “PROSECUTORIAL MISCONDUCT!“

More:

“Supreme Court Rules Trump Cannot Block Release of Financial Records,” Adam Liptak, New York Times

“Supreme Court Gives Trump Legal Loss, Tactical Win in Tax Cases,” Ed Kilgore, New York Magazine

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Trump Family: Tax Scams All the Way Down

The New York Times revealed a multi-million-dollar case of Trump family tax fraud last week. Poppa Fred Trump set up phony companies to funnel money to his progeny withour paying gift tax to the IRS — that is, to American taxpayers. He also routinely undervalued properties. Donnie Trump was “earning” $200,000 a year as a 3-year-old,  and was a millionaire by age 8. So much for the “self-made-man” myth. Donald Trump seems to have continued the chicanery with daddy’s money when he was full grown. No wonder he’s never revealed his personal tax returns, despite his campaign promises.

Times reporter Susanne Craig first looked at the financial papers of President Trump’s sister, Maryanne Trump Barry, submitted to the Senate when she was nominated as a federal judge. An odd $1 million payment from a mysterious family-owned company stood out, and led to the Times investigation.

The charges were denied by a Trump family attorney, and of course Sarah Huckabee Sanders lied about them. President Trump called the Times story “old and boring,” but didn’t deny the story’s findings.Mr. Trump has been caught committing tax fraud before, and New York State tax authorities are looking into the new allegations.

More:

“Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father,” Russ Buettner, Susanne Craig and David Barstow, New York Times

“Fred Trump’s Tax Scheme Was Quite Impressive,” Matt Levine, Bloomberg

“Republicans Rigged the System to Enable Crimes Like Trump’s Tax Evasion,” Harry Cheadle, Vice

“Trump’s Shady Accounting Playbook for the Hyper-rich,” Annie Lowery, The Atlantic

“The Trump Family’s Tax Dodging Is Symptomatic of a Larger Problem,” John Cassidy, The New Yorker

“How Times Journalists Uncovered the Original Source of the President’s Wealth,” Melina Delkic, New York Times

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Altar Boy, US Marine, FBI Agent, Lawyer, GOP Congressman, Felon.

Former altar boy Michael Grimm, US Marine veteran, ex-FBI Agent, lawyer, thug, restaurateur, and former Republican Congressman from Staten Island, has been sentenced to 8 months in federal prison for tax fraud. He will be missed by his Mom and Sebastian, his Yorkshire terrier.

More:

“The Appalling Career of Michael Grimm,” Evan Ratliff, The New Yorker

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Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.