Fahrenthold to the rescue: My hero drops the first negative story on Trump post Comey-Updated
Last edited Sat Oct 29, 2016, 08:37 PM - Edit history (1)
Update******
Yesterday I commented that charitable self-dealing may be part of the oppo drop. It's right in Fahrenthold's article. So bear with me and let's just think about this...
Self Dealing Defined:
IRC 4941(d) provides that the following transactions are generally considered acts of self-dealing between a private foundation and a disqualified person: E: Transferring foundation income or assets to, or for the use by or
benefit of, a disqualified person
A disqualified person is: A substantial contributor to the foundation (as defined in IRC 507(d)(2));
https://www.irs.gov/pub/irs-tege/eotopicq85.pdf
No question that Trump is a disqualified person and cannot receive any personal benefit from the Foundation. In the WaPo story there are numerous examples of how Trump benefitted, but many of those benefits are "indirect." Some of these indirect benefits, like fixing the fountain in a public space that indirectly help his property values are tolerated by the IRS. They're super skeezy and the kind of thing done by irredeemable people, but allowed. However, there are smaller transactions listed, as with everything in the law, the devil is in the small details.
Then he used $100 of the foundation’s money to buy a two-person membership to the Metropolitan Museum of Art.
Whoops. That ain't legal Mr. Trump. Here's what the IRS has to say about that.
Membership dues and fees, by their very nature, are usually paid by individuals on a continuing basis. When dues are paid by a private foundation on behalf of a disqualified person, it may be presumed that the disqualified person is being relieved of the obligation, whether or not legally enforceable, to make such payment. The benefit conferred on the individual is not incidental or tenuous, but is direct and economic in nature. Accordingly, Rev. Rul. 77-160, 1977-1 C.B. 351, holds that the payment of membership dues by a private foundation on behalf of a disqualified person is an act of self-dealing under IRC 4941(d)(1)(E).
And here's the point. Agents at the IRS and courts have burned a lot of calories on these rules. You can't just say, "Pssssssh, it's just $100. What's the big deal." Well, the big deal is IRC 4941(d)(1)(E). IT'S IN VIOLATION OF THE IRS CODE. There doesn't seem to be a "nominal direct dealing exception." Meaning that if the foundation gives a disqualified person $100 thats not LEGAL.
This is akin to the bank teller who was caught taking $20 out of the drawer. The bank isn't going to die with that loss. But do you stop there? Hell no. The bank would analyze every one of the teller's transactions and you can believe that there would be legal consequence.
At some point, willful direct self dealing becomes illegal if it is implemented in a fraudulent way in an attempt to avoid personal tax liabilities. How can we be so sure Trump's tax returns are clean? Gotta see the returns.
He might brag about how much of a tax genius he is, but the limited information available to us shows he ain't.
Original Post--------
So Trump shows up at a charity event uninvited and sits down in an empty chair on the stage. Nobody knows what to do so they allow it to happen. He leaves without making a donation. And my hero (Mr. Fahrenthold) has a nice video that sums it all up.
This, while seemingly a minor deal, is actually an excellent story for Clinton. It makes Trump look like a liar. It makes Trump look poor. It reignites the tax return issue (because don't we all want to know how charitable he is now?) Finally, it puts Trump in a category where he belongs. This is a loser move. We all know people who show up at events uninvited and/or who try to steal honor. They are called losers.
Hopefully this is the first in a long string of Trump stories that will start to percolate in the post-Comey vigilante era. I predict at least something else today.
https://www.washingtonpost.com/politics/trump-boasts-of-his-philanthropy-but-his-giving-falls-short-of-his-words/2016/10/29/b3c03106-9ac7-11e6-a0ed-ab0774c1eaa5_story.html?hpid=hp_hp-top-table-main_trumpcharity-3pm%3Ahomepage%2Fstory
My apologies to those who I offended with my earlier pro-Tesla post. I was quite honestly losing my mind that there hadn't been a negative Trump story injected into this news cycle. I had to think of something else, but like any trial attorney I should know my audience. Irrespective of my intention, I was, in fact, extremely careless. These are difficult times. I've deleted it, scrubbed my server clean, and I fully appleagize. (sic)_
= new reply since forum marked as read
That in your OP is 1st rate weirdo sh*t!!! Trump the ultimate creepy creep!
