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Three Things That Surfaced From The Donald Trump Tax Scheme Investigation

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Three Things That Surfaced From The Donald Trump Tax Scheme Investigation

Washington, DC – March 17, 2017: US President Donald Trump hold a joint press conference with German Chancellor Angela Merkel at the White House after their first in-person meeting.

Washington, DC – March 17, 2017: US President Donald Trump hold a joint press conference with German Chancellor Angela Merkel at the White House after their first in-person meeting.

Washington, DC – March 17, 2017: US President Donald Trump hold a joint press conference with German Chancellor Angela Merkel at the White House after their first in-person meeting.

Washington, DC – March 17, 2017: US President Donald Trump hold a joint press conference with German Chancellor Angela Merkel at the White House after their first in-person meeting.

By Ethan Winchester

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Donald Trump is major player in New York, he owns nearly a billion dollars in real estate in the city. Since the 70’s he has built a massive real estate and business empire. Now that he has been President for almost two years, more eyes are watching his financial history than ever.

Recently, The New York Times discovered a scheme that helped Mr. Trump obtain his riches and gains from his father, Fred C. Trump. The Investigation by The New York Times and other news organizations searched into the vast financial history of the Trump family.

The findings are based on interviews with Fred Trump’s former employees and advisers and more than 100,000 pages of documents describing the inner workings and immense profitability of his empire,” the article stated. “They include documents culled from public sources — mortgages and deeds, probate records, financial disclosure reports, regulatory records and civil court files.”

These findings revealed the less than legal methods that the Trump family used to avoid taxes. Here are three of the most important findings of the investigations:

  1. Donald Trump Had Been Receiving Money Ever Since He Was A Toddler

President Trump has always claimed that he started out with only a million dollars from his father, Fred C. Trump. It was found that:

“By age 3, he was earning $200,000 a year in today’s dollars from his father’s empire,” The New York Times article found. “He was a millionaire by age 8. In his 40’s and 50’s, he was receiving more than $5 Million a year.”

As Donald began to start projects in the 70’s, the flow of money increased in the form of multiple loans.

  1. The Trump Family Had A Company That Siphoned Money

All Country Building Supply & Maintenance is a business that only exists on paper. According to records and interviews, the company was a way to make purchases for the Trump family without encountering various taxes. These invoices for All Country were paid for by increasing the rent of tenants that lived in Trump owned housing.

The President’s lawyer, Charles Harder, heavily disputed the report about All County Building Supply & Maintenance.

“Should The Times state or imply that President Trump participated in fraud, tax evasion or any other crime, it will be exposing itself to substantial liability and damages for defamation,” Harder said in response to The New York Times investigation.

  1. Trump’s “Small Loan” Of A Million Dollars Was Actually Over $60 Million

Donald Trump’s name sake has been built on the notion that he was a self made billionaire. He claims it all started with a loan of a million dollars from his father, with interest. The investigation by the Times found that in actuality, the loan was more to the tune of $60.7 million dollars. That amount today would be $140 million. The loan was never repaid.The investigation has garnered massive attention from both political sides, but especially the Trump Family. Donald Trump referred to the Times as the “Failing New York Times”. He never directly denied the findings of the article. A few weeks ago the New York Tax Department started investigating the allegations made by the Times. If the allegations are proven true, it would severely threaten Trump’s chances for a re-election.

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About the Writer
Ethan Winchester, Social Team

Ethan Winchester is a staffer on the FHNtoday.com team. This is Ethan’s second semester on staff where he focuses on political and social issues. Ethan...

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