I read this hole report today, and although I suppose I'm not surprised that he's been evading taxes (especially after reading this classic a couple of years ago: Trump received $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s ), I do find it somewhat surprising how crude his methods seem to be? Courts have held that to treat residences as businesses for tax purposes, owners must show that they have “an actual and honest objective of making a profit,” typically by making substantial efforts to rent the property and eventually generating income. [...] In 2014, Eric Trump told Forbes that “this is really our compound.” I mean, how easy is it to get away with tax evasion in the US? This is some schoolyard shit! From my point of view, it's clear that he has done something illegal, for example: And Mr. Trump does appear to have received something. When the casino bankruptcy concluded, he got 5 percent of the stock in the new company. And judging by the brazenness of the two examples I highlighted, there must be more, and lots of it. However, I have the impression that if you're rich enough in the US, you can get away with anything, if only by dragging out court battles. What's your feeling on this? Do you think there's any chance at all that Trump will end up in jail? Or at the very least lose his fortune? I have an ominous feeling that when the chips fall, it'll turn out that everything he did was legal due to various loopholes his tax lawyers found.The tax records reveal another way Seven Springs has generated substantial tax savings. In 2014, Mr. Trump classified the estate as an investment property, as distinct from a personal residence. Since then, he has written off $2.2 million in property taxes as a business expense [...].
A partner who walks away from a business with nothing — what tax laws refer to as abandonment — can suddenly declare all the losses on the business that could not be used in prior years. But there are a few catches, including this: Abandonment is essentially an all-or-nothing proposition. If the I.R.S. learns that the owner received anything of value, the allowable losses are reduced to just $3,000 a year.
I've seen a lot of coverage on this where the author would presumably retort "Lose what fortune?! harrharrharr". Everyone seems to be forgetting that this is all reporting on something Trump claimed to the IRS. It could be that (at least since the bankruptcies, hopefully those are harder to fake?) his businesses have actually turned a profit, and his IRS paperwork is the most brazen/sloppy lying in a tax fraud scheme literally ever. Either way, it shouldn't take long to show a massive disparity between the IRS records and how Trump has represented himself to e.g. Deutsche bonk when begging for loans. I don't think there's a way to loophole one's way outta that pickle, but I'm not in the business of ripping off my fellow countrymen. If prosecutors have the IRS forms, why go after Mazars? Because any prosecution wants to de-fang the "oh I didn't have anything to do with it, all the corrupt tax dodging was cooked up by my dirty accountant!" argument before it's ever made, and maybe even add a count of perjury along the way if they play their cards right. The only way Trump will be held accountable is if he leaves the White House this coming January. And gee golly, it's almost like he knows that, and it explains some of his recent actions and statements. Like I mentioned elsewhere in this thread, it's possible that the NY AG could attempt to bring charges against him, which Bill Barr and a 6-3 SCOTUS would laugh out of town. Then, they'd claim to have established precedent for state-level prosecutions of a sitting president, namely that they're not allowed. Trump would become explicitly more untouchable. If this wasn't The October Surprise, I can't wait to see what comes out next. Not that it will change any minds. So I guess for historical purposes? "Hey remember when you still voted for Trump after heWhat's your feeling on this? Do you think there's any chance at all that Trump will end up in jail? Or at the very least lose his fortune?
That seems like a pretty believable theory to me. I really hope you're right (and that the fucker loses the election). I don't think anyone has ever deserved to lose more, he's far worse than Nixon.The only way Trump will be held accountable is if he leaves the White House this coming January. And gee golly, it's almost like he knows that, and it explains some of his recent actions and statements