On October 2, 2018, The New York Times released an investigation detailing the Trump
family’s engagement in suspicious tax activities that allowed the Trump clan to avoid
paying millions of tax dollars.
family’s engagement in suspicious tax activities that allowed the Trump clan to avoid
paying millions of tax dollars.
Trump’s involvement with suspect tax activities is traced back to when he was a toddler.
His father, Fred Trump, funneled over $1 billion in wealth to the Trump children while paying
only 52.5 million of the 550 million dollars of gift tax that was imposed on gifts and
inheritances. He did this by naming the children owners of various of businesses where they
received the income.
His father, Fred Trump, funneled over $1 billion in wealth to the Trump children while paying
only 52.5 million of the 550 million dollars of gift tax that was imposed on gifts and
inheritances. He did this by naming the children owners of various of businesses where they
received the income.
Near Fred Trump’s death, the Trumps began transferring ownership of most of Fred Trump’s
empire. The assets were passed down with GRATs, a method of passing down assets where
only gift taxes need to be paid. The gift tax in GRATs are based on the value of Fred Trump’s
assets. The Trump family took advantage of it and had Fred’s assets appraised at a much
lower value than it actually is, allowing the Trump children to receive the assets without paying
hundreds of millions of dollars of tax money.
empire. The assets were passed down with GRATs, a method of passing down assets where
only gift taxes need to be paid. The gift tax in GRATs are based on the value of Fred Trump’s
assets. The Trump family took advantage of it and had Fred’s assets appraised at a much
lower value than it actually is, allowing the Trump children to receive the assets without paying
hundreds of millions of dollars of tax money.
Despite this investigation, it is unlikely that anyone will be criminally prosecuted because of the
how long ago these events happened.
how long ago these events happened.
Do you think Trump should be prosecuted for these suspect tax activities?
Do you think that this should have been investigated before Trump ran for office? Why?
Do you think that this should have been investigated before Trump ran for office? Why?
Sources:
https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html
https://www.cnn.com/2018/10/02/politics/donald-trump-tax-schemes/index.html
https://www.nytimes.com/2018/10/02/insider/donald-trump-fred-tax-schemes-wealth.html
I think that this should have been investigated prior to Trump taking the office because there would have been a clearer picture of it all and might have drastically altered the outcome of the election.
ReplyDeleteI agree with you, the release of this information most likely would have negative effects on Trump's election
DeleteEven though Trump can't be prosecuted for the tax schemes I think there should be a way where he can be. Also, I think that this should've been investigated before he got elected as president since this is all just coming out and the fact that no one is making it a big deal against his credibility isn't okay in my opinion.
ReplyDeleteI am not clear about the specifics of tax laws. Although I do think he should be punished, I don't think he should be legally held accountable any different than other people who have escaped their taxes, because everyone is created equal. However, it is a shame since he is the president and should be setting a good example for the rest of the country. There definitely should have been investigations before he ran and even though it may have been too long to hold him accountable now, he still has to step up and admit his mistakes if the accusations are true. He should face this more seriously and not just pass it on so we can properly enforce our tax laws. Taxes are money given to the government, so if our president is stealing from the government, what will the justice of our country become?
ReplyDeleteI think Trump should pay some fines at least for having evaded paying higher cost for the tax. The appraisal of the buildings and the way to bypass the tax system is bad and should be removed. I also think that since it was mostly his father who started it he would also be in trouble.
ReplyDeleteI don't think Trump should be criminally prosecuted because it has been some time since these events have passed; however, he should still receive a harsher punishment than a fine. A fine is probably a slap to the wrist for Donald so perhaps some of his assets ought to be taken away. Yeah, this should've been investigated before he ran for office because it shows that he isn't a very trustworthy individual. Being honest is an important quality for a president.
ReplyDeleteI don't think President Trump should be prosecuted for the tax schemes, because they happened so long ago. However, I think that his taxes should have been investigated before/during his campaigning. The public should have the right to know what the character of their candidates are, and his tax schemes could have affected his popularity during the 2016 elections.
ReplyDeleteI think that honesty and actually paying taxes is important when judging someone's character, especially if that person was running to be the President of the United States. I think that his tax returns should have been investigated, and is disappointed that it wasn't. Because Trump got away with a crime regarding taxes before, I think he should be properly prosecuted this time in order for this kind of fraud and corruption to happen within our government.
ReplyDeleteI do not believe that Trump should be prosecuted for these tax activities if his actions are legal. I also do not believe that Trump should have been investigated before he ran for office assuming that his actions are legal. If these actions are not legal, then I believe that he should be prosecuted and investigated.
ReplyDeleteI think that Trump should of absolutely been investigated for these crimes before taking office and that this further proves how he is not qualified for presidency. He has broken the law multiple times and gotten away with it because of his wealth. He should at least be removed from office for these crimes.
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I think Trump should be prosecuted for these suspect tax activities if there are evidences that prove he did indeed commit them. Even if it is pass the time to be charge because he is the president of the USA. This should definitely have been investigated before Trump ran for office because it can alter public's opinions and might have affected the result of the election.
ReplyDeleteYeah I also agree that this event doesn't necessarily need prosecution because it was so long ago and it would just be a pretty big logistic problem trying to figure out all the exact financial transactions the Trumps made in the past. Also, if it was just found out and released that his family did this, then this event would have been unknown when he was running for office. If anything, more publicity to this would just tarnish his name, just like how other things he's done have. This news just needs to be known more and it would make those anti-Trump people happy to hear his reputation going down.
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