Trump’s America Is a Great Place to Cheat on Taxes

Last week, the New York Times released the most comprehensive look into Donald Trump’s financial history ever compiled. Not only did it debunk the president’s oft-repeated etiological myth about having only received a $1 million loan from his dad, Fred, which he later had to pay back with interest—it showed how the father-son team systematically cheated on taxes.

Though the Times published a couple of TL;DRs of its own 13,000-word article, here is an even more condensed version: Trump was a millionaire by the time he was eight, in part because his father made him a banker or a landlord on various building projects. His family also used grantor-retained annuity trusts (GRATS) and a fake company called All County Building Supply Maintenance to ultimately transfer more than $1 billion in wealth to their kids. All of this should have led to a

... read more at: https://www.vice.com/en_us/article/zm9wwj/trumps-america-is-a-great-place-to-cheat-on-taxes

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