Showing posts with label Trump tax fraud. Show all posts
Showing posts with label Trump tax fraud. Show all posts

Monday, March 18, 2024

QOTD: "Criminal Intent" In Trump's Tax Fraud




Biographer of the Malignant Loser and expert on his tax and financial history David Cay Johnston appeared on MSNBC to discuss the enormous debt Trump incurred to pay his civil penalties, and the national security dangers of being beholden to foreign debt holders. He also discussed the Malignant Loser's obvious tax fraud (starting at the video's 3:45 mark) and the justification in bringing a case against him:

"There's statutes of limitations for criminal prosecution of taxes, but one of the things we know from the Donald Trump returns we finally got, is he created 60 fictitious businesses, took tax deductions for a number of them that reduced his overall tax bill, even though they had no revenue, and in other cases the revenue and expense matched to the dollar, which I have never seen in 50 years of writing about taxes, and in 1984, Donald Trump did the same thing. He claimed over $600,000 of deductions for a business that had no revenue, no invoices, no records of existence, and was tried twice for income tax fraud, civil, not criminal. Both judges found against him, and his own tax lawyer Jack Mitnick testified against him for forgery saying he put his signature on it when he didn't prepare it.

Since he has done this again, more than 60 times, I have argued either Alvin Bragg or the U.S. government should bring a case against him for tax fraud, proving he created fictitious businesses would be easy, and he was on notice not to do this, a clear indication of criminal intent." (our emphasis)

Unfortunately for America, be assured that both Alvin Bragg and the Department of Justice under timid disappointment Merrick Garland will find reasons for delay through constant navel-gazing as the Malignant Loser runs out the clock again. 

 

Sunday, September 27, 2020

BOMBSHELL -- Trump The Tax Dodger

 Surprised not surprised:

The New York Times has obtained tax-return data for President Trump and his companies that covers more than two decades. Mr. Trump has long refused to release this information, making him the first president in decades to hide basic details about his finances. His refusal has made his tax returns among the most sought-after documents in recent memory.

Among the key findings of The Times’s investigation:

  • Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017, after he became president, his tax bill was only $750.

  • He has reduced his tax bill with questionable measures, including a $72.9 million tax refund that is the subject of an audit by the Internal Revenue Service.

  • Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.

  • The financial pressure on him is increasing as hundreds of millions of dollars in loans he personally guaranteed are soon coming due.

  • Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television.

  • Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill.

  • As president, he has received more money from foreign sources and U.S. interest groups than previously known. The records do not reveal any previously unreported connections to Russia. (our emphasis)

 Some initial reactions --


 

 

 

 

 

 

 

This has to come up at Tuesday's debate.  When and if it does, there'll be flop sweat rolling from Mango Mussolini like a waterfall.  This throws him off any script he might have right before this critical head- to- head with Joe Biden.  Biden should definitely pound him and remind taxpayers what he must think of them ("suckers" and "losers") at every opportunity.