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  1. #51
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    Trump's border wall speech detached from reality

    1. The following are excerpts from Jack Holmes' January 9, 2019 article headlined "The Media Is Dangerously Unequipped to Deal with Tonight's Trumpian Propaganda Circus" with the subheading "The president's speech on the border ‘crisis’ and The Wall will likely be completely detached from reality. We're not up to the challenge of covering it live."

    (Begin excerpts)
    ...Donald Trump is not playing soccer. He probably never has. The president does not believe in the concept of truth—the idea that there are things we can empirically learn about the world through observation and the scientific method, and that these facts come together to form a framework known as objective reality. For Trump, the truth is whatever you can get enough people to believe. What he wants people to believe is whatever is most useful to him right now. When called on this, he fights back hard—never producing evidence—or abandons the claim and pretends it never happened. Never does he admit there is a reality we all inhabit whose contours he can't mold to his personal benefit.

    On The Apprentice, he would occasionally fire the week's best-performing contestant because he didn't much know what was going on and didn't care. The show's producers would then have to reverse-engineer reality to accommodate this new conclusion. The same happens each day in the White House, as aides scramble to explain some evidence-free nonsense he's tweeted—a conclusion in search of jerry-rigged justification. For his whole life in privately held business, Trump was above accountability because his minions would simply make his visions real—until, of course, the business went bankrupt. There were no voters or shareholders to answer to. And even in those lowest moments, he would always personally skate by, inventing new worlds for himself to escape into.

    ....White House Press Secretary Sarah Huckabee Sanders said on Sunday that many of the 4,000 terrorist suspects—a loose term in the first place—captured trying to enter the United States illegally were found at the southern border. According to Customs and Border Protection, the number is 6.

    .....The Wall will not stop the significant share of undocumented immigrants who arrive at airports and overstay their visas. Planes go over The Wall. No one serious believes it will stop the flow of drugs. It will be a legal and logistical nightmare to build, requiring the government to seize private land—and reservation land from Native Americans—and disrupt local ecosystems and wildlife habitats. It will be extremely expensive (even the $5.7 billion Trump would get in his dreams is not nearly enough to finish it) and, again, not particularly effective—except as a monument to White America's resentment of the changing world outside....

    Now, Trump has floated declaring a state of emergency, an action that grants the executive vast powers which he and his lackeys believe include seizing taxpayer money that has not been appropriated by Congress to build a wall. This appears nakedly unconstitutional, and would almost certainly face a court challenge.

    But more to the point, declaring a state of emergency to respond to an entirely fabricated crisis is dangerously authoritarian behavior. Vice President Mike Pence and Homeland Security Secretary Kirstjen Nielsen went to Congress yesterday evening to get Republicans there on board with this treacherous scam....

    .....The president is exploiting the corporate profit motive to glorious effect, knowing full well no TV producer worth his salt—or, more importantly, whose job security depends on ratings—will turn down a chance to air this nonsense extravaganza. They'll go wall-to-wall, with a pregame panel and a postgame panel and analysis and commentary and questions like, How Will Democrats Respond? Does Nancy Pelosi Have to Come to the Table? Meanwhile, the fact that this entire thing is built on a foundation of complete and utter bullshit will rarely go mentioned.

    It's a new game now. You can pick up the ball! What, isn't that handball? Let's just run with it. (End excerpts)

    P.S. As expected, Trump's speech is detached from reality.

    Source: https://www.esquire.com/news-politic...paganda-media/

  2. #52
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    The Great American Heist

    The following are excerpts from Jack Holmes' December 5, 2018 article headlined "The Trump Family Is Strangling the American Republic With Conflicts of Interest" with the subheading "Junior's hydroponic lettuce venture ensures the Great American Heist rolls on."

    (Begin excerpts)
    ....The President of the United States ... has overseen a festival of corruption since entering the White House. Many of our nation's least scrupulous citizens seem to have seen his improbable election as an invitation to smash the glass and grab everything they could. That includes, of course, The Kids.

    ....the Trump family has mixed their private business interests with public "service," a habit that continually presents conflicts-of-interest and prompts questions about whether American policy is being made to benefit Americans or the Trumps.

    The most infamous recent example is "The Moscow Project," which former Trump lawyer Michael Cohen pled guilty to lying about under oath last week. The Trump Organization pursued a deal for a Trump Tower Moscow through June 2016, not January as Cohen initially lied, and Donald Trump received regular updates on those efforts as he pursued the Republican nomination. This, of course, raises the question of whether Trump's relentless public support for Russia and President Vladimir Putin—who was reportedly set to receive the $50 million penthouse in the new tower, his kickback for supporting the deal—was tied to anything other than putting more money in his own pocket. The Kids were reportedly involved in this one, too. Ivanka Trump recommended an architect.

    Ivanka herself has earned some headlines recently for committing the same sins as Hillary Clinton when it comes to email protocol—the kind of rank hypocrisy which no longer resonates at all in our politics. But she also harbors a viper's nest of conflicts-of-interest in her dual role as senior adviser to the president and private businesswoman. Ivanka made $3.9 million off the family's D.C. hotel in 2017, the same hotel that has become the shining beacon of the New Swamp. Foreign dignitaries stay there—and spend their money there—to curry favor with the regime, which is controlled by the hotel's proprietors. In return, these foreign entities hope that American policy is crafted with their interests in mind.

    One of the groups spending an awful lot of money at Trump properties is the Saudis. Their relationship goes way back: "In Trump's hard times, a Saudi prince bought a superyacht and hotel from him," according to The Chicago Tribune, and the Saudi government bought $4.5 million apartment from Trump in 2001—but has taken on a new sheen after his election. That same Tribune article tracked how Trump's hotels in New York, Chicago, and Washington, D.C. all saw a significant uptick in Saudi business since he entered the White House. That's just the surface of his dealings with the House of Saud, an arrangement he used to trumpet: "I get along great with all of them. They buy apartments from me. They spend $40 million, $50 million. Am I supposed to dislike them? I like them very much."....

    What seems to be developing in the United States isn't that far afield. The president's Cabinet is full of savory characters like Wilbur Ross, who stands accused of stealing $120 million from his business partners over the years. Or there's the various private-jet aficionados like Ryan Zinke, the Secretary of Interior—a department lobbied by Junior's lettuce outfit—who also accused a sitting congressman of being an alcoholic last week and using $50,000 in taxpayer funds to cover it up....

    It's the Great American Heist, folks. All that's left to steal is the republic.... (End excerpts)

    Source: https://www.esquire.com/news-politic...t-of-interest/

  3. #53
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    Trump's suspect tax schemes

    1. David Barstow, a senior writer at The New York Times, is a winner of three Pulitzer Prizes.

    Susanne Craig is an investigative reporter who writes about the intersection of politics, money and government. She has covered Wall Street for The Times and has served as Albany bureau chief. Previously, Ms. Craig was a reporter at The Wall Street Journal and worked at The Globe and Mail, Canada's national newspaper.

    Russ Buettner is an investigative reporter for The New York Times’s Metro Desk. He has been reporting on the New York City region since 1992. He joined the The Times in 2006 after working on investigations teams at the New York Daily News and New York Newsday.

    2. The following are excerpts from an article by David Barstow, Susanne Craig and Russ Buettner, dated October 2, 2018, under the headline "Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father".

    (Begin excerpts)
    The president has long sold himself as a self-made billionaire, but a Times investigation found that he received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s.

    President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, an investigation by The New York Times has found.

    Mr. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help.

    But The Times’s investigation, based on a vast trove of confidential tax returns and financial records, reveals that Mr. Trump received the equivalent today of at least $413 million from his father’s real estate empire, starting when he was a toddler and continuing to this day.

    Much of this money came to Mr. Trump because he helped his parents dodge taxes. He and his siblings set up a sham corporation to disguise millions of dollars in gifts from their parents, records and interviews show. Records indicate that Mr. Trump helped his father take improper tax deductions worth millions more. He also helped formulate a strategy to undervalue his parents’ real estate holdings by hundreds of millions of dollars on tax returns, sharply reducing the tax bill when those properties were transferred to him and his siblings.

    These maneuvers met with little resistance from the Internal Revenue Service, The Times found. The president’s parents, Fred and Mary Trump, transferred well over $1 billion in wealth to their children, which could have produced a tax bill of at least $550 million under the 55 percent tax rate then imposed on gifts and inheritances....

    The Times’s findings raise new questions about Mr. Trump’s refusal to release his income tax returns, breaking with decades of practice by past presidents....

    The investigation also draws on tens of thousands of pages of confidential records — bank statements, financial audits, accounting ledgers, cash disbursement reports, invoices and canceled checks. Most notably, the documents include more than 200 tax returns from Fred Trump, his companies and various Trump partnerships and trusts. While the records do not include the president’s personal tax returns and reveal little about his recent business dealings at home and abroad, dozens of corporate, partnership and trust tax returns offer the first public accounting of the income he received for decades from various family enterprises.

    What emerges from this body of evidence is a financial biography of the 45th president fundamentally at odds with the story Mr. Trump has sold in his books, his TV shows and his political life. In Mr. Trump’s version of how he got rich, he was the master dealmaker who broke free of his father’s “tiny” outer-borough operation and parlayed a single $1 million loan from his father (“I had to pay him back with interest!”) into a $10 billion empire that would slap the Trump name on hotels, high-rises, casinos, airlines and golf courses the world over. In Mr. Trump’s version, it was always his guts and gumption that overcame setbacks. Fred Trump was simply a cheerleader....

    But The Times’s investigation of the Trump family’s finances is unprecedented in scope and precision, offering the first comprehensive look at the inherited fortune and tax dodges that guaranteed Donald J. Trump a gilded life. The reporting makes clear that in every era of Mr. Trump’s life, his finances were deeply intertwined with, and dependent on, his father’s wealth....

    The line between legal tax avoidance and illegal tax evasion is often murky, and it is constantly being stretched by inventive tax lawyers. There is no shortage of clever tax avoidance tricks that have been blessed by either the courts or the I.R.S. itself. The richest Americans almost never pay anything close to full freight. But tax experts briefed on The Times’s findings said the Trumps appeared to have done more than exploit legal loopholes. They said the conduct described here represented a pattern of deception and obfuscation, particularly about the value of Fred Trump’s real estate, that repeatedly prevented the I.R.S. from taxing large transfers of wealth to his children....

    The manipulation of values to evade taxes was central to one of the most important financial events in Donald Trump’s life. In an episode never before revealed, Mr. Trump and his siblings gained ownership of most of their father’s empire on Nov. 22, 1997, a year and a half before Fred Trump’s death. Critical to the complex transaction was the value put on the real estate. The lower its value, the lower the gift taxes. The Trumps dodged hundreds of millions in gift taxes by submitting tax returns that grossly undervalued the properties, claiming they were worth just $41.4 million....

    The most overt fraud was All County Building Supply & Maintenance, a company formed by the Trump family in 1992. All County’s ostensible purpose was to be the purchasing agent for Fred Trump’s buildings, buying everything from boilers to cleaning supplies. It did no such thing, records and interviews show. Instead All County siphoned millions of dollars from Fred Trump’s empire by simply marking up purchases already made by his employees. Those millions, effectively untaxed gifts, then flowed to All County’s owners — Donald Trump, his siblings and a cousin. Fred Trump then used the padded All County receipts to justify bigger rent increases for thousands of tenants....

    During the 1980s, Donald Trump became notorious for leaking word that he was taking positions in stocks, hinting of a possible takeover, and then either selling on the run-up or trying to extract lucrative concessions from the target company to make him go away. It was a form of stock manipulation with an unsavory label: “greenmailing.” The Times unearthed evidence that Mr. Trump enlisted his father as his greenmailing wingman.

    On Jan. 26, 1989, Fred Trump bought 8,600 shares of Time Inc. for $934,854, his tax returns show. Seven days later, Dan Dorfman, a financial columnist known to be chatty with Donald Trump, broke the news that the younger Trump had “taken a sizable stake” in Time. Sure enough, Time’s shares jumped, allowing Fred Trump to make a $41,614 profit in two weeks.

    Later that year, Fred Trump bought $5 million worth of American Airlines stock. Based on the share price — $81.74 — it appears he made the purchase shortly before Mr. Dorfman reported that Donald Trump was taking a stake in the company. Within weeks, the stock was over $100 a share. Had Fred Trump sold then, he would have made a quick $1.3 million. But he didn’t, and the stock sank amid skepticism about his son’s history of hyped takeover attempts that fizzled. Fred Trump sold his shares for a $1.7 million loss in January 1990. A week later, Mr. Dorfman reported that Donald Trump had sold, too...

    With every passing year, the actuarial odds increased that Fred Trump would die owning apartment buildings worth many hundreds of millions of dollars, all of it exposed to the 55 percent estate tax. Just as exposed was the mountain of cash he was sitting on. His buildings, well maintained and carrying little debt, consistently produced millions of dollars a year in profits....

    Simply put, without immediate action, Fred Trump’s heirs faced the prospect of losing hundreds of millions of dollars to estate taxes....

    The Trumps’ plan, executed over the next decade, blended traditional techniques — such as rewriting Fred Trump’s will to maximize tax avoidance — with unorthodox strategies that tax experts told The Times were legally dubious and, in some cases, appeared to be fraudulent. As a result, the Trump children would gain ownership of virtually all of their father’s buildings without having to pay a penny of their own. They would turn the mountain of cash into a molehill of cash. And hundreds of millions of dollars that otherwise would have gone to the United States Treasury would instead go to Fred Trump’s children....

    The bulk of Fred Trump’s empire was nowhere to be found on his estate tax return. And yet Donald Trump and his siblings were not done. Recycling the legally dubious techniques they had mastered with the GRATs, they dodged tens of millions of dollars in estate taxes on the remnants of empire that Fred Trump still owned when he died, The Times found....

    Money is at the core of the brand Mr. Trump has so successfully sold to the world. Yet essential to that mythmaking has been keeping the truth of his money — how much of it he actually has, where and whom it came from — hidden or obscured. Across the decades, aided and abetted by less-than-aggressive journalism, Mr. Trump has made sure his financial history would be sensationalized far more than seen.... (End excerpts)

    Source: https://www.nytimes.com/interactive/...red-trump.html

  4. #54
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    Quote Originally Posted by reedak View Post
    1. David Barstow, a senior writer at The New York Times, is a winner of three Pulitzer Prizes.

    Susanne Craig is an investigative reporter who writes about the intersection of politics, money and government. She has covered Wall Street for The Times and has served as Albany bureau chief. Previously, Ms. Craig was a reporter at The Wall Street Journal and worked at The Globe and Mail, Canada's national newspaper.

    Russ Buettner is an investigative reporter for The New York Times’s Metro Desk. He has been reporting on the New York City region since 1992. He joined the The Times in 2006 after working on investigations teams at the New York Daily News and New York Newsday.

    2. The following are excerpts from an article by David Barstow, Susanne Craig and Russ Buettner, dated October 2, 2018, under the headline "Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father".

    (Begin excerpts)
    The president has long sold himself as a self-made billionaire, but a Times investigation found that he received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s.

    President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, an investigation by The New York Times has found.

    Mr. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help.

    But The Times’s investigation, based on a vast trove of confidential tax returns and financial records, reveals that Mr. Trump received the equivalent today of at least $413 million from his father’s real estate empire, starting when he was a toddler and continuing to this day.

    Much of this money came to Mr. Trump because he helped his parents dodge taxes. He and his siblings set up a sham corporation to disguise millions of dollars in gifts from their parents, records and interviews show. Records indicate that Mr. Trump helped his father take improper tax deductions worth millions more. He also helped formulate a strategy to undervalue his parents’ real estate holdings by hundreds of millions of dollars on tax returns, sharply reducing the tax bill when those properties were transferred to him and his siblings.

    These maneuvers met with little resistance from the Internal Revenue Service, The Times found. The president’s parents, Fred and Mary Trump, transferred well over $1 billion in wealth to their children, which could have produced a tax bill of at least $550 million under the 55 percent tax rate then imposed on gifts and inheritances....

    The Times’s findings raise new questions about Mr. Trump’s refusal to release his income tax returns, breaking with decades of practice by past presidents....

    The investigation also draws on tens of thousands of pages of confidential records — bank statements, financial audits, accounting ledgers, cash disbursement reports, invoices and canceled checks. Most notably, the documents include more than 200 tax returns from Fred Trump, his companies and various Trump partnerships and trusts. While the records do not include the president’s personal tax returns and reveal little about his recent business dealings at home and abroad, dozens of corporate, partnership and trust tax returns offer the first public accounting of the income he received for decades from various family enterprises.

    What emerges from this body of evidence is a financial biography of the 45th president fundamentally at odds with the story Mr. Trump has sold in his books, his TV shows and his political life. In Mr. Trump’s version of how he got rich, he was the master dealmaker who broke free of his father’s “tiny” outer-borough operation and parlayed a single $1 million loan from his father (“I had to pay him back with interest!”) into a $10 billion empire that would slap the Trump name on hotels, high-rises, casinos, airlines and golf courses the world over. In Mr. Trump’s version, it was always his guts and gumption that overcame setbacks. Fred Trump was simply a cheerleader....

    But The Times’s investigation of the Trump family’s finances is unprecedented in scope and precision, offering the first comprehensive look at the inherited fortune and tax dodges that guaranteed Donald J. Trump a gilded life. The reporting makes clear that in every era of Mr. Trump’s life, his finances were deeply intertwined with, and dependent on, his father’s wealth....

    The line between legal tax avoidance and illegal tax evasion is often murky, and it is constantly being stretched by inventive tax lawyers. There is no shortage of clever tax avoidance tricks that have been blessed by either the courts or the I.R.S. itself. The richest Americans almost never pay anything close to full freight. But tax experts briefed on The Times’s findings said the Trumps appeared to have done more than exploit legal loopholes. They said the conduct described here represented a pattern of deception and obfuscation, particularly about the value of Fred Trump’s real estate, that repeatedly prevented the I.R.S. from taxing large transfers of wealth to his children....

    The manipulation of values to evade taxes was central to one of the most important financial events in Donald Trump’s life. In an episode never before revealed, Mr. Trump and his siblings gained ownership of most of their father’s empire on Nov. 22, 1997, a year and a half before Fred Trump’s death. Critical to the complex transaction was the value put on the real estate. The lower its value, the lower the gift taxes. The Trumps dodged hundreds of millions in gift taxes by submitting tax returns that grossly undervalued the properties, claiming they were worth just $41.4 million....

    The most overt fraud was All County Building Supply & Maintenance, a company formed by the Trump family in 1992. All County’s ostensible purpose was to be the purchasing agent for Fred Trump’s buildings, buying everything from boilers to cleaning supplies. It did no such thing, records and interviews show. Instead All County siphoned millions of dollars from Fred Trump’s empire by simply marking up purchases already made by his employees. Those millions, effectively untaxed gifts, then flowed to All County’s owners — Donald Trump, his siblings and a cousin. Fred Trump then used the padded All County receipts to justify bigger rent increases for thousands of tenants....

    During the 1980s, Donald Trump became notorious for leaking word that he was taking positions in stocks, hinting of a possible takeover, and then either selling on the run-up or trying to extract lucrative concessions from the target company to make him go away. It was a form of stock manipulation with an unsavory label: “greenmailing.” The Times unearthed evidence that Mr. Trump enlisted his father as his greenmailing wingman.

    On Jan. 26, 1989, Fred Trump bought 8,600 shares of Time Inc. for $934,854, his tax returns show. Seven days later, Dan Dorfman, a financial columnist known to be chatty with Donald Trump, broke the news that the younger Trump had “taken a sizable stake” in Time. Sure enough, Time’s shares jumped, allowing Fred Trump to make a $41,614 profit in two weeks.

    Later that year, Fred Trump bought $5 million worth of American Airlines stock. Based on the share price — $81.74 — it appears he made the purchase shortly before Mr. Dorfman reported that Donald Trump was taking a stake in the company. Within weeks, the stock was over $100 a share. Had Fred Trump sold then, he would have made a quick $1.3 million. But he didn’t, and the stock sank amid skepticism about his son’s history of hyped takeover attempts that fizzled. Fred Trump sold his shares for a $1.7 million loss in January 1990. A week later, Mr. Dorfman reported that Donald Trump had sold, too...

    With every passing year, the actuarial odds increased that Fred Trump would die owning apartment buildings worth many hundreds of millions of dollars, all of it exposed to the 55 percent estate tax. Just as exposed was the mountain of cash he was sitting on. His buildings, well maintained and carrying little debt, consistently produced millions of dollars a year in profits....

    Simply put, without immediate action, Fred Trump’s heirs faced the prospect of losing hundreds of millions of dollars to estate taxes....

    The Trumps’ plan, executed over the next decade, blended traditional techniques — such as rewriting Fred Trump’s will to maximize tax avoidance — with unorthodox strategies that tax experts told The Times were legally dubious and, in some cases, appeared to be fraudulent. As a result, the Trump children would gain ownership of virtually all of their father’s buildings without having to pay a penny of their own. They would turn the mountain of cash into a molehill of cash. And hundreds of millions of dollars that otherwise would have gone to the United States Treasury would instead go to Fred Trump’s children....

    The bulk of Fred Trump’s empire was nowhere to be found on his estate tax return. And yet Donald Trump and his siblings were not done. Recycling the legally dubious techniques they had mastered with the GRATs, they dodged tens of millions of dollars in estate taxes on the remnants of empire that Fred Trump still owned when he died, The Times found....

    Money is at the core of the brand Mr. Trump has so successfully sold to the world. Yet essential to that mythmaking has been keeping the truth of his money — how much of it he actually has, where and whom it came from — hidden or obscured. Across the decades, aided and abetted by less-than-aggressive journalism, Mr. Trump has made sure his financial history would be sensationalized far more than seen.... (End excerpts)

    Source: https://www.nytimes.com/interactive/...red-trump.html
    It looks like he was intelligent enough to avoid a whole ton of taxes. As a libertarian, I sympathize more with him now.

  5. #55
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    Quote Originally Posted by Findeton View Post
    It looks like he was intelligent enough to avoid a whole ton of taxes. As a libertarian, I sympathize more with him now.
    If he is intelligent, his late father, as his mentor, was more intelligent.

    For some people, they prefer their sons to be intelligent crooks than innocent fools.

    I think you fall into this category.

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