JLW
Diamond Member
- Sep 16, 2012
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Over the past decade, Jared Kushner’s family company has spent billions of dollars buying real estate. His personal stock investments have soared. His net worth has quintupled to almost $324 million.
And yet, for several years running, Mr. Kushner — President Trump’s son-in-law and a senior White House adviser — appears to have paid almost no federal income taxes, according to confidential financial documents reviewed by The New York Times.
Kushner Paid No Federal Income Tax for Years, Documents Suggest
Kushner took advantage of the law allowing depreciation on his real estate holdings while his buildings dramatically increased in value. Kushner's personal income was about 1.5 million per year in which no tax was paid.
The good news for Kushner, Trump and other real estate developers is that they will not have to pay taxes for years to come because the White House last year championed a sweeping revision of the nation’s tax laws that expanded many of the benefits enjoyed by real estate investors, allowing them to reap even larger deductions.
The bad news is for the middle classes that will see the deficit soar and its benefits decline.
Trump is laughing all the way to the bank as his supporters cheer that he gives some of his salary, chump change, to charity while he reaps the benefits of a system that he has rigged in his favor to the tune of tens of millions or dollars with his changes in these new tax laws,
Trumpists truly are the world's biggest saps.
And yet, for several years running, Mr. Kushner — President Trump’s son-in-law and a senior White House adviser — appears to have paid almost no federal income taxes, according to confidential financial documents reviewed by The New York Times.
Kushner Paid No Federal Income Tax for Years, Documents Suggest
Kushner took advantage of the law allowing depreciation on his real estate holdings while his buildings dramatically increased in value. Kushner's personal income was about 1.5 million per year in which no tax was paid.
The good news for Kushner, Trump and other real estate developers is that they will not have to pay taxes for years to come because the White House last year championed a sweeping revision of the nation’s tax laws that expanded many of the benefits enjoyed by real estate investors, allowing them to reap even larger deductions.
The bad news is for the middle classes that will see the deficit soar and its benefits decline.
Trump is laughing all the way to the bank as his supporters cheer that he gives some of his salary, chump change, to charity while he reaps the benefits of a system that he has rigged in his favor to the tune of tens of millions or dollars with his changes in these new tax laws,
Trumpists truly are the world's biggest saps.
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