The taxes aren't the big story...the big story is fraud, lying on documents, "consultant" fees to

[cbdo2007]

Ivanka and stuff like that.

There are unfortunately many, many legal ways that billionaires get around paying income taxes, and while this is a problem that needs to be addressed, they are distraction here from the real mean which is the obvious fraud that was uncovered in claiming his income was one thing to the IRS while telling banks it was something else, paying Ivanka millions of dollars in consulting fees, etc.

Accountants are already jumping in everywhere about the $750 in taxes paid and explaining how this is basic for everyone who mixes their business and personal accounts, so we need to stay focused on the fraud or they will succeed in taking this headline, proving it is false, and then using that info to invalidate the rest of the story.

[Ferrets are Cool]

1. +1

[Thekaspervote]

2. Indeed! The NYT says there will be more stories to come as they dig into his tax docs

It’s finally coming to the surface.. thank god!!

[Rule of Claw]

3. Wait.

That loophole of rolling over biz losses to personal income was closed in 2002.

https://www.businessinsider.com/why-did-trump-pay-so-little-tax-2016-10

[Awsi Dooger]

4. $750 should not be close to the lead story

I am shocked that's where the focus is

[Cicada]

5. The October 2018 story already revealed massive criminal tax fraud

Example, Fred bought a building fir $10 million, then sold it four years later to a company owned by his kids for four million, taking a six million tax loss. It was obviously income tax fraud but it also was a gift. Back then the gift tax was 56% so he illegally gave them $6 million without paying the 56% tax on the transfer. Without the gift there would have been a 56% inheritance tax.Another example allegedly based on a scheme dreamed up by Donald. Rent can be increased on low income apartments only if money is spent on improvements. If you agree to low rents for low income tenants the IRS sends you in year one a check equal to 25% of the full cost of the apartment, low income housing credit. A shell corporation called All County Supply and Repair was created, owned by Fred’s adult children. They bought appliances. They then sold them to Fred for 25% more than cost. The Phony extra 25% allowed them to raise rent an extra 25% beyond what was Permitted. So they screwed widows living on social security, illegally jacking up their rent. But again it was also a scheme to transfer money to kids, avoiding the 56% gift or later 56% inheritance tax. The 2018 story estimated that the criminal tax fraud stole about $200 million from the IRS. The statute of limitations prevents jail for the Trump siblings but I think they will be ordered to pay back the stolen taxes plus interest. The part of the tax owed by Fred can be clawed back by tax authorities from money inherited by his kids. The trump siblings will owe a fortune. New York authorities opened investigations based on the 2018 story. The statute of limitations on the IRS getting back the stolen federal taxes started when the fraud was discovered, the day the NYT published their story. So if Biden wins his IRS can file in time to get back IRS taxes. But the state and city will file on time for their share even if Trump is re-elected.