So–we finally get to see a significant portion of the tax returns Trump has succeeded in hiding until now. As I understand it, the returns obtained by the Times were personal–not business returns–so any money that Russia supplied to The Trump Organization would only show up on returns we still haven’t seen.
The Times analysis is extensive, and you can read the details there. I’ll just share a few of my more immediate reactions:
- If the New York Times is guilty of “fake news,” as the President insists, he has an easy way to prove it. He can release the tax returns that rebut the “fake” version analyzed by the newspaper. (The situation he finds himself in vis a vis the tax returns is similar to that posed by multiple accusations of sexual assault. At least one accuser has DNA evidence; Trump has refused to submit to a DNA test that he insists would exonerate him.) Innocent people who have the ability to conclusively demonstrate that innocence do not stubbornly refuse to do so.
- Assuming the tax returns obtained by the Times are genuine–an inescapable assumption–the paltry $750 payment over a period of ten years can be explained in one of two ways: either Trump engaged in tax fraud–i.e., he cheated–or he was a terrible businessman. (And yes, it is possible, even likely, that both are true…) Michael Cohen, his longtime fixer, has testified that Trump exaggerated his net worth to lenders and hid assets from tax authorities, and anyone who’s been paying any attention at all the past few years will find that pattern of behavior consistent with what we’ve seen. The business failures also lend credibility to Cohen’s assertion that Trump ran for President assuming he would lose, in an effort to promote his “brand” and improve its performance.
- The degree to which Trump is personally indebted–and the identity and nationality of the people to whom he owes significant sums–pose a “clear and present” danger to American security. That danger is undoubtedly one of the things that prompted the recent release of a letter from a bipartisan group of nearly 500 past and present national security officers, endorsing Joe Biden. According to media reports, the signatories included five former secretaries of the Navy, two former Army secretaries, four former Air Force secretaries, two retired governors, and 106 ambassadors.
- Overall, the tax returns tell us that Trump is buried in an almost inconceivable mountain of debt. He owes more than $300 million dollars, and his businesses have continually lost money. The only enterprise that actually generated net income for him was “The Apprentice”–and he used that income to shore up the golf courses and other ventures that have steadily lost money. He has personally guaranteed a significant amount of that debt (no doubt basing those guarantees on an inflated net worth), and the bulk of it is rapidly coming due.
- I was astonished at his evident success in deducting personal expenses. We “little people” who obediently follow the rules (making us, in Trump talk, “dumb”) could never get away with deducting $70,000 in hairstyling, or $26 million dollars in “consulting fees” paid to his own daughter–despite the fact that that daughter was also on his payroll!
- The Times reported that Trump is fighting with the IRS over the repayment of a $72.9 million tax refund. If he has to repay it, it will run to $100 million when penalties and interest are factored in. I’m bemused –gobsmacked, actually–that he was able to con the IRS into giving him that refund in the first place.
There’s a lot more information in those returns, and the Times promises to follow up its bombshell disclosures with additional insights. But one thing is already abundantly clear: Trump’s frantic effort to avoid a peaceful transfer of power is based upon his recognition of the fact that once he leaves office, he will no longer be protected by that DOJ memo saying a sitting President cannot be indicted. He will face federal and state prosecution for bank fraud, tax fraud, wire fraud, and mail fraud.
Unless he manages to somehow steal the election and remain in office by subverting American law, Trump’s last days will be spent either in a federal prison or in one of those “shithole” countries that does not have an extradition agreement with the United States.
50 thoughts on “What Those Taxes Show–And What They Don’t”
Maybe Donny can take a quit trip to the land of his bankers — He can stay with his friend Vladimir — permanently.
I think before this is all over Ms. Merkel has some ‘splainin’ to do for Deutchebank’s behavior and lending practices. The G7 has to bring the global bank cartel under control or smash it to bits.
And the US Tax Code….don’t get me started. Only in America can you expense a jet aircraft in one year but spread income losses over 20.
So he’s just another big-time Nazi looter. Why should that be such a big deal in America?
At least according to the report, The Trumpet is on the hook personally for the debt he owes.
The focus should not be on the Trumpet alone. “We don’t pay taxes. The little people pay taxes.”
— Leona Helmsley
Various reports come out like the Panama Papers, etc., that document the ways the uber wealthy can avoid taxes. Nothing is ever done both political parties in the USA look the other way when the tax avoidance schemes are revealed to the world. It is not just The Trumpet many large multi-national corporations avoid and evade Federal Income Taxes.
It is a big mistake to think The Trumpet is a one off or the one bad apple concerning paying a fair share of taxes.
Wow! Isn’t that Donald Trump a “one smart dude?” He’s even more clever than I thought he was.
Just how long does it take to conduct an IRS audit anyway?
The real question now is whether or not his attempted TAKEOVER before the November elections will be successful. What will our new flag look like? That’s what we should all be discussing. Does anyone disagree?
So, he’s basically a walking Ponzi scheme with only himself as the mark.
“In the Land of the Blind, the One-eyed Man is King.” No doubt about that.
Any country that takes him in, if the United States government wants to prosecute him, will be immediately sanctioned. That’s a threat that has teeth almost anywhere.
How can people endorse a president who paid less taxes than your kid had to pay from working at McDonalds all year?????? UNBELIEVABLE CORRUPTION!!!
There’s no doubt, we need to start over. Remember “It ain’t over, till it’s over.” ~ Yogi Berra
Trump will never spends minute in federal prison. He’s going to pardon himself and his family. Likely also many others in the White House.
And he’s desperately trying to win so that the statue of limitations runs out on state charges.
This is what happens to you when you look to the likes of the Southern Poverty Law Center, the Anti-Defamation League, or the Political Research Associates for protection. They’re no better in the long run than TRUMP.
How could Trump have pulled all of this off if he had any REAL opposition?
If push comes to shove, he will resign during his lame duck period and little Mikey will pardon him for all of his federal sins in return for his moment of glory.
Thank you Sheila!
It really is mind-boggling? Soul-searching? Incomprehensible? Pick your analogy!
You still have, as shown by interviews with Georgia undecideds supposedly, staunch support even through all of this, so I don’t understand how those could still be considered undecided. That he is really a genius because of avoiding taxes, or that they all try to do the same thing, but they still want to take full advantage of the governments encompassing protection concerning overseas business opportunities and personal safety, monetarily and physically here and overseas.
So they would prefer someone else pick up the tab for them being allowed on the playing field. They want to completely minimize the risk on the backs of the little guy, which Trump referred to as stupid!
If you have a foreign entity in your ear telling you that they’ll make sure your debt goes away if you destroy the NATO (North American Treaty organization) which is a thorn in the side of Puttie Poot (George Bush’s pet name for Vladimir Putin)! Does anyone think DJT wouldn’t throw the entire country under the bus to not have to worry about his debt anymore?
The Trump clan are currently a cornered injured animal (opponent) and we know how dangerous they can be. When I was a kid on the ranch, we had dogs, and one was a German shepherd that my father had actually gotten from Germany. Her name was Heidi, and she was one protective loving wonderful and loyal sister to me. One morning, I heard her snarling in the barn, she was going after a large female rat, it was cornered between some feed barrels. Heidi wanted to kill that rat, for one thing she was a good rat dog, and killed many rats and weasels that would get into the chicken pens. This rat fought Heidi for an hour or more, she bit her on the nose, drew blood on her feet, this rat was a Mike Tyson of rats. I finally had to put it down with a 22 caliber straight left, LOL.
Then we had to take Heidi in for shots to make sure she didn’t get sick.
If that rat can hold off 110 pound female German Shepherd, because it doesn’t want to lose its life, imagine the rat DJT? He’d burn it all down to save himself! Just like Hitler and just like Mussolini, although in the end it didn’t turn out well for those 2, they helped destroy most of the world in the process of greed and self-preservation! A more recent example is what happened with Nicolae Ceaușescu Romanian Communist Party Gen. Sec. and his wife! He really destroyed his country for a long time, and it still hasn’t recovered! Execution didn’t solve or change what was done to the country all those years, it was a final judgment and punishment and a rebuke, but it didn’t repair anything.
6 That is why you are also paying taxes; for they are God’s public servants constantly serving this very purpose.
So, DJT and all of his followers on the evangelical side seem to not get it! It is one of those, “Don’t Do What I Do, Do What I Say” Hypocrisy that is so indelibly permeated in their being.
And lastly, concerning contamination and containment of illness, the evangelicals seem to have forgotten Luke who was a physician, who wrote a Gospel and the book of Acts, Dr. C. Truman Davis stated: “Where medical description is given, it is meticulously accurate. Luke uses a total of twenty-three Greek technical words found in Hippocrates, Galen and other medical writings of the period.”(Arizona Medicine, March 1966, “Medicine and the Bible,” p. 177.)
In that vein, the apostle Paul told Timothy to take a little wine for his stomach problems, Timothy had continuous issues along with his stomach problem. We now know that wine has medicinal properties! This Is confirmed by present-day research. Dr. Salvatore P. Lucia, Professor of Medicine, University of California School of Medicine, has stated: “Wine is widely used in the treatment of diseases of the digestive system. . . . The tannin content and the mildly antiseptic properties of wine make it valuable in the treatment of intestinal colic, mucous colitis, spastic constipation, diarrhea and many infectious diseases of the gastrointestinal tract.” (Wine as Food and Medicine, 1954, p. 58)
And, what was brought out by the famous physician mentioned in many historical writings, Hippocrates, a Greek physician of the fifth and fourth centuries B.C.E. (Hippocratic oath)
who discussed quarantine, disinfecting clothing and areas of living, and the like! This is also in line with the biblical positions mentioned above.
So quarantine and disinfection is not something new, and it is something that Christians are supposed to know already and obey the superior authorities concerning these things, because they are also written Scripture. I won’t go into any more detail on it because there’s a lot to write on that subject and no one will read it anyway. Because we all know Scripture is fake, right?
Anyway, the evangelical support of the snake, and all of its connotations, shows a complete delusion, willfully deluded, and being willfully ignorant of consequences, The story concerns a farmer who finds a viper freezing in the snow. Taking pity on it, he picks it up and places it within his coat. The viper, revived by the warmth, bites his rescuer, who dies realizing that it is his own fault.
So, here we go, they fell in love with the viper, who is going to take their religion and murder it! Actually, it’s already been done, they just happened to not know they are the walking dead, LOL!
Let’s see. George Soros joins with Charles Koch and that’s not a big problem. And we continue to wonder, “why we’re up shit creek without a paddle?”
We cannot allow a man with that much debt to flee to another country. His debt makes him a serious security threat because he now knows too much about our intelligence and security services and military work. The man is the most serious security threat our country has faced since Benedict Arnold.
“Unless he manages to somehow steal the election and remain in office by subverting American law, Trump’s last days will be spent either in a federal prison or in one of those “shithole” countries that does not have an extradition agreement with the United States.”
The citizens and the revolving government administrations of this country have spent the past FORTY YEARS watching this happen, with Trump’s real or imagined wealth, built on destroying other businesses and businessmen and women and destroying women’s lives with sexual abuses but ignored it all to allow him to be appointed President of the United States. NOW, some of his clever, or illegal, depending on your personal views, have been “found” and made public days before his possible/probable reappointment to the presidency. Why are your bikini panties and jockey shorts suddenly in a bunch about the situation at this late date? He has been giving wedgies to any and everyone he deals with since he suffered those heel spurs to avoid the Draft.
My mind has been made up and my Absentee Ballot mailed; I will watch the debatable “debate” and check periodically on the general situation regarding the election so that the daily surprises do not come as a “surprise” when he remains as a squatter in the White House.
“What Those Taxes Show-And What They Don’t” have been right in front of us as they happened for the past FORTY YEARS when his name and face first became public.
Be fair. Don’t tarnish the name of Benedict Arnold.
You’ve been defending the SPLC for the past five years. What happened?
Trump is a psychopath. He has no conscience whatsoever. He will NEVER admit any wrongdoing. He will sell his inside information to the highest bidder (Russia) before he is locked in a deep, dark dungeon. He will lie until he draws his last breath, and with that breath he’ll blame Obama for himself dying.
It’s what psychopaths do.
For once, you are describing a problem in which my expertise exceeds yours. Let me add that deducting some of thee personal items are indicative of fraud. When a person files a fraudulent return, there is no statute of limitations for the year. The IRS can go all the way back to the first year of the claimed deduction, no matter how early. The IRS can the asses tax, together with penalties and interest for every one of those years. The IRS can also assess severe penalties for failures to report overseas accounts with balances of $10,000 or more.
Now let’s assume that his nontax debts force him into bankruptcy. He can only claim protection from federal taxes if more than three years have passed since the assessment. Thus the IRS will have a claim on all of his speaking honoraria from the NRA, etc., etc.
I’ve been a CPA for over 45 years and I wouldn’t take him as a client without an ENOROMOUS retainer.
See one the most important articles ever written: “The Reckoning of Morris Dees and The Southern Poverty Law Center” by Bob Moser in the March 21, 2019 issue of “The New Yorker” magazine.
Then maybe some of you can start to understand what happened to us because of this MONSTROUS PERFIDY.
Marv; your comment proves you have no idea what the SPLC does. It seeks out and works to fight White Supremacist, and anti-Semitic, GROUPS, not their individual members.
And my SPLC membership is current.
It’s like a football game where two of the players, both a defensive tackle and defensive guard on OUR side, were on the take and we still couldn’t understand why we lost 72-0.
Read the article I cited and get back to us.
Hey Marv & JoAnn –
Please exchange email addresses and correspond that way.
Please stick to the topic that Sheila presents.
I hate to remind this group that our tax code is underwritten and approved by both political parties. Trump’s massive IRS refund also came under Obama’s watch. When Hillary was jabbing at Trump’s slimy accounting for NOT paying taxes, he immediately pointed out that he took advantage of loopholes written by politicians like her. The same politicians he donated money to so that his tax accountants and lawyers wrote loopholes and backdoors.
So, we a different set of laws for the Ruling Class and a different set of tax codes. Trump isn’t the only sleaze bag in this country, NOT paying taxes. For the record, Nancy Pelosi isn’t writing our tax codes. It’s being written by sleazeball lawyers and accountants of the Ruling Class.
How is it that the Ruling Class pay less in wealth transfer taxes than the average American?
As far as the NYT’s tax returns revelation, aside from the slimy nature of allowed tax deductions and loss carryforwards, are the nature of Trump’s loans and who provided the monies to Trump.
While all the U.S. banks were done with Trump and his six bankruptcies and horrible business acumen, one bank embraced him with open arms — Deutsche Bank. However, it was the USA subsidiary of D.B. Trump’s Chicago project that was financed by D.B., and when he defaulted, they demanded payment. Trump sued them for causing the 2008 global finance debacle. The deal was refinanced, and the Private Banking arm of D.B. paid off the balance he owed to the commercial division (this is unheard in banking circles – never, ever, happens).
As Patrick mentioned above, D.B. was caught laundering money for Russian oligarchs stealing from the Kremlin and offshoring monies (see the Panama Papers). D.B. received funds from Russian banks and disbursed to Western agents.
The question being investigated now by SDNY and hopefully congressional committees headed by Adam Schiff is whether monies passing thru D.B. came from Russian oligarchs or banks and went directly to Trump. Was D.B. used as a pass-thru to legitimize monies loaned to Trump?
From the Guardian:
“The affair is a further blow to Deutsche Banks’s ailing reputation. It comes amid police raids on its Frankfurt H.Q. over the Panama Papers, a plunging share price, and talks over a possible merger with Germany’s Commerzbank. The raid last November came after German prosecutors alleged two bank employees helped clients launder money via offshore firms.
Deutsche is also under scrutiny in Washington over its financial dealings with Donald Trump. On 15 April, Democrats from the House intelligence and financial services committees issued a subpoena, demanding the bank provide documents about its lending to the president.
Over two decades, Trump borrowed more than $2bn from Deutsche. In 2008, he defaulted on a $45m loan repayment and sued the bank. Its private wealth division in New York subsequently loaned Trump a further $300m – a move that bemused insiders and which has yet to be fully explained.”
Kathy M; Mea culpa, with an apology, JoAnn
Regarding the taxes at issue today; I will backtrack to the Obama administration and comment on one of the two major errors committed by President Obama, whom I still hold in the highest of regard. When he allowed George W’s tax break for the wealthy to continue, rather than end on the January 1, 2010 date set by George W; that set the foundation in place for the continuation and escalation of that tax break to reach the nearing nonexistent level we see today. Trump’s tax “situation”; whatever it was and is, has been allowed to continue through Democratic and Republican administrations with no action taken before his presidential coverup. So now we are aware of a small amount of more information with no way to take action against a sitting president who intends to keep “sitting”.
To quote Sheila; “I’m bemused –gobsmacked, actually–that he was able to con the IRS into giving him that refund in the first place.”
But I have a question, that amount is a drop in the bucket when you claim having billions, what was he covering up by paying that amount?
Hear! Hear! Todd—Trump is a crook and a psycho path but he is not the only person only corporation not paying taxes. I think Bezo is just as bad when Amazon can get away paying paultry wages and pays no taxes.
Deducting haircuts?! I am more enraged at the tax code than Trump finding accountants to cook his books. I expect that from him and his cronies–I am sick and tired of corporations and people of wealth screwing us worker bees over and that is one of the multitude of reasons why we are in the midst of a social civil war. We are tired and are not going to take it anymore!!
Good day and good luck to you all. FINIS! Just listen to Kath M. She has all the answers.
It is my understanding that the NFL does not pay taxes. And, of course, I am not at all surprised that Trump has either committed fraud or tax evasion. The man has no moral compass.
For the first time in my adult life, I did not have to pay taxes to the feds last year because my retirement income and my legal deductions were such that I did not have to. A gentleman from AARP filed my tax return for me. If we tallied all the taxes I have paid over the years it would be much more than Trump has ever paid. I am sure that is true for all of you as well.
Park Avenue needs to start paying its fair share especially since we have such an enormous deficit now due to the pandemic and the Republicans so called “tax reform bill”.
No surprises. Let me be even more succinct: And, do you want fries with that?
The U.S. tax system, built by the wealthy, and powerful, serves their purposes well. their purpose is “GREED IS GOOD!”
Donny has been a grifter for all of his adult life, and maybe more. He is a Malignant Narcissist, and is not going to dip anything but duck and weave, blame and obfuscate (even if he can not spell it).
This squib that I posted yesterday is on topic target if obliquely and is, slightly edited, as follows:
Is Don’s silence in re Putin’s bounties on our troops related to Deutsche Bank’s loans to him for whih Russians are guarantors, or must one never speak ill of his creditors? If he goes to extradition-less Russia after his defeat and builds a hotel with his Zurich proceeds, he is advised to hire a royal taster and stay away from windows.
Busy morning so apologies if these points have been made:
– The IRS staffing has been cut by 1/3 and the DEMS have done nada to stop it
– The working class are multiple times more likely to be audited (and charged) than the wealthy. The IRS doesn’t have the guns to fight the army of lawyers the rich have to drag things out (hmm, have we seen such behavior recently on other legal issues?)
– MOST IMPORTANTLY – massive research says that the largest deterrent to stopping criminal behavior is not the designated punishment, it is the likelihood of being caught…
Every day Trump makes asses out of his supporters. They love it. They want more and more and more. He’s our kind they scream. We have found our leader. Take us to our promised land.
Frankly it’s getting boring.
The NYT article says Trump has only $740,000 in securities likes stocks and bonds. The rest of his “fortune,” is tied up in, mostly, money losing commercial properties.
Okay, let’s do the Math. Trump claims to be worth 10 billion dollars. Let’s assume he is worth “only” one billion. By my calculation, assuming my math is correct, Trump has only .07% in secure investments and 99.93% of it in in risky commercial properties.
Riddle me this, what 70 year plus “billionaire” has that kind of investment portfolio? The answer is “none.” Of course, Trump never was worth $10 billion and it’s pretty clear he’s not worth $1 billion either.
Speaking of a billion dollars, Trump made more than that from the Apprentice. He’s blown through all that money and is now another $300 million plus in debt. How does anyone do that? Of course this is the same political candidate who has blown through a billion dollars and run out of money for TV ads in crucial swing states during the last two months of the campaign.
FYI, I read the NYT article, Sheila, and I don’t think you’re right that the information just came from Trump’s personal returns and not the Trump business returns. For example, the article had information on how much the Trump company paid consultants. I would think that information would come from Trump business returns. I think they must have been look at both personal and business returns.
elaine; I still haven’t gotten over Mitt Romney receiving a $60,000 or $70,000 tax exemption for his wife’s HORSE which participated in the Olympics’ Dressage competition which description I found was horse ballet. Her horse didn’t win, place or show but Mitt’s exemption was honored. Information regarding part of the cost of Olympic competition were the rider’s outfit and the equipment on the horse which was listed at around $12,000.
Paul K. Ogden; I did read that Trump was allowed an exemption on the consultant fee ($650,000 I think) he paid his daughter, Ivanka. Can’t remember if it was part of this current tax information in the NYT article; we need to know the tax situations of his entire family who are part of the White House crony staff.
Talk about complicated.
I’ve read the NYT’s report a couple of times now trying to find out how DJT was able to score a $72.9 million tax refund in 2010 (which if he has to pay it back would amount to $100 million in interest and penalties). Interestingly, the NYT’s says that any refund in excess of $2 million to an individual must be approved by both the IRS tax auditors and the bipartisan Joint Committee on Taxation (How did I not know that before?).
The NYT’s reports that the Joint Committee got the info on the refund in 2011 and some type of agreement was reached in 2014, but then the audit — that Trump has been attempting to hide behind as the reason not to release his tax returns — resumed, and was sent back to the Joint Committee in 2016, just as it became clear DJT would be the Republican nominee, where it has stalled and languished ever since for unknown reasons (We could probably guess at a few possible reasons).
According to the NYT’s, it appears that the refund was based on DJT’s claim to the SEC and IRS that he had walked away from his partnerships, which owned the Trump branded Atlantic City casinos, and that his share/stake in those partnerships was worthless and lacked potential to regain value (this was just a week before the partnership and DJT declared bankruptcy again). Thus, DJT could claim those “worthless” shares as a massive $700 million loss. The problem for DJT, and the reason for the audit, stems from the fact that the IRS rules make it all-or-nothing. If DJT received anything in value from his stake in that partnership, he couldn’t legally claim the entire $700 million. And wouldn’t you know it. DJT did get something for his stake in the partnership. At the end of the bankruptcy proceedings, he was given 5% of the stock in the new company that took over the casinos.
So the answer to Prof. Kennedy’s bemusement about how DJT managed to get that $72.9 million refund in the first place is that he and his auditors and tax preparers LIED to the IRS. Who’d of thunk it?
The tax code is been complicated by piling on deductions, depreciation, depletion and various other business expenses. The reason for this is not complicated the 1% own the people who legislate the laws, not all of course just enough, make sure they get the Gold Mine and We Proles Get the Shaft.
A simple progressive tax on individuals and business without deductions, etc., would greatly simply things. If you have $100 Million in sales you owe “X” amount of dollars in taxes and that is that.
Just a F.Y.I.: Paul Ogden is correct. The NYT’s states that it’s report and analysis is based on both DJT’s personal and business tax returns:
“This article is based on an examination of data from those returns, which include personal and business tax filings for Mr. Trump and his companies spanning more than two decades.”
Although hair styling costs are deductible to those in the entertainment business as a cost of doing business I fail to see how Ivanka’s hair styling fits such description. She was simultaneously both an employee of and consultant to her dad’s businesses (how can that be?) and it seems to me that the checks he gave her as a consultant deductible to his businesses were probably endorsed and given back tax free to dad’s companies, companies who also did not have to pay social security taxes on such “consultant” payments since she was presumably acting as an independent contractor. Deciding whether to call Ivanka an employee or a consultant is also a neat way to cheat the IRS of taxes owed and social security taxes not paid, and if I were the IRS auditor assigned to his businesses I would deny their claim for deduction for her hair styling and demand that he and/or his lawyers and accountants tell me how Ivanka could simultaneously be both employee and consultant to his various enterprises.
Meanwhile, I checked the Fox News website to see what they were saying about Trump’s taxes and found nothing. No mention of it whatever.
Marv, ““In the Land of the Blind, the One-eyed Man is King.” No doubt about that.”
From what I’ve observed in 83 years is In the Land of the Blind, the One-eyed Man is an Outcast. He is the Other. The Hated. The Bullied. In America the person whose head rises above the norm soon gets that head removed.
Marv, your own story testifies against your quote.
“Marv, your own story testifies against your quote.”
How could you know my story? I’m not dumb enought to put most of it on this blog. You don’t know the half of it.
I have BOTH EYES OPEN that’s why I win more than 75% of the time. And I’m still in this game. This blog surely is no test to what I can accomplish. It’s been a FOCUS GROUP no more, no less.
“The tax-avoidance strategies that President Donald Trump capitalized on to shrink his tax bill to essentially zero are surprisingly common among major real estate developers and other uber-wealthy Americans…. The law became even more beneficial to them after Trump’s Republican allies in Congress pushed through his $1.5 trillion tax overhaul, which took effect in 2018.”
Rich people don’t pay taxes. Especially if they are in real estate.
Patrick Wiltshire- Why must Angela Merkel answer for the Deutsche Bank? Why not the Deutsche Bank board of directors, chairman of the board or president? Germany is not a socialistic country. The behavior of a worldwide company with headquarters in the USA would not be answerable to our president.
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