NYtimes: How Donald Trump Avoided Paying Taxes Using Other People’s Money

[spanone]

The story of how Mr. Trump sidestepped a potentially ruinous tax bill emerged from documents recently discovered by The Times during a search of casino bankruptcy

filings.


Mr. Trump structured his companies to allow him to have lucrative personal tax advantages, while limiting his personal liability should business go bad.




For each of his Atlantic City casinos, Mr. Trump formed a partnership between himself and a corporation that he wholly owned and created for this specific purpose.


At the time, many businesses, particularly real estate ventures, were structured similarly, with the goal of protecting owners from losing personal money should their

businesses go bust. But Mr. Trump was playing on a vastly different scale than most; his leverage was the stuff of legend.



http://www.nytimes.com/interactive/2016/us/politics/trump-taxes-loophole.html?hp&action=click&pgtype=Homepage&clickSource=image&module=first-column-

[PJMcK]

1. Disgusting

This "man" is just disgusting. He plans things to fail.

Donald Trump is an idiot.

[spanone]

2. when i was growing up they'd call him a shyster....

a fraud. a cheat. a scoundrel. a bully. a thief.

[asiliveandbreathe]

3. Michael Tomaski has a good write up - Daily Beast on this tax story

Surely to be a hit tomorrow when they dissect and report the trumpsters scheme for not paying taxes -


http://www.thedailybeast.com/articles/2016/10/31/donald-trump-s-huge-horrible-halloween-nightmare.html

....snip....

Oh, and the article makes it a point of mentioning this. You know how Trump said in the debates that if Clinton was so upset about the tax laws he exploited, “Why didn’t she ever try to change those laws so I couldn’t use them?” You’ll be shocked to hear that Trump wasn’t telling the truth about that. In 2004, Congress did close the loophole Trump exploited. Among the senators voting to do so was Hillary Clinton.

Be well all....

[dalton99]

9. "Trump had his secretary call her ex and tell him she was “living with a black man”"

Interesting article below that one.

[lovemydog]

4. That's one of the loopholes I'd like Congress

and the next President to close.

[muriel_volestrangler]

6. According to the Daily Beast article above, they did close it, in 2004 - Hillary voting to close it

of course. And though the Business Insider article says it was voted on in 2002, it looks to be basically this story here: http://www.democraticunderground.com/12512471910

[pfitz59]

5. A financial friend told me about this years ago

Banks forgiving billions in Trump debt to recover what they could, while Trump pocketed the profits and reaped the tax advantages. Trump calls it "good business", other folks call it fraud. What I wonder is these maneuvers by Trump (and others, he was not the only prick doing it, just on a grand scale) led directly to banks taking desperate risks to recoup their losses leading up to the financial crisis of 2008? The question is, he he still doing this shit? He won't release his tax returns. Some think its because of Russian connections, but could it be to hide nefarious tax-avoidance efforts?

[yardwork]

8. Both, I would imagine.

[malaise]

7. Groper Don the Con is nothing more

than a Con