Trump Floored By MASSIVE Sales Tax Avoidance Scandal, Campaign Goes Silent

[ScienceRocks]

Trump Floored By MASSIVE Sales Tax Avoidance Scandal, Campaign Goes Silent

Along with the New York Times discovery that Trump lost nearly $1 billion in 1995, it was also discovered that Donald Trump is known for evading taxes — even sales taxes. Forbes dug up a criminal case from 1986 wherein Donald Trump was evading New York state sales tax in collusion with a Bulgari jewelry store. The high-end jewelry store and Donald Trump seemed to have worked out a deal where Trump could avoid paying sales tax to the state and the city.

Trump would enter the store at the Fifth Avenue location in Manhattan to purchase a piece for a wife or girlfriend such as an expensive watch or necklace. Under normal circumstances, Bulgari would charge the customer sales tax, which would then be later paid to state coffers.

But Trump and Bulgari had a deal. As a way to illegally avoid paying the sales tax, normally a pretty large sum on expensive jewelry, Trump would “ask” the store to ship the jewelry to an out-of-state address so that sales tax would not be collected.

Many online vendors sell out-of-state and are not required to collect or pay state sales tax unless they have a store or business location in the state where the item is delivered. But this was in 1986 before internet commerce and even today, state budgets are suffering from the practice.

What Forbes discovered is that the store would ship an empty box to the out-of-state address, and Trump and his current arm candy would walk out of the store with the jewelry.

New York tax collectors caught up to Bulgari and Trump and a number of others using this scam to cheat the State of New York out of rightful revenue, and Trump was called to testify against the store to protect himself against charges. According to The Los Angeles Times, Trump purchased over $65,000 worth of jewelry using this method, which is approximately $142,000 in 2016 dollars.

And the New York Sales tax scam isn’t the only tax evasion in Donald Trump’s past. Trump also stiffed the state of Florida for property taxes on his Mar-a-Lago estate. According to POLITICO reporter Frank Cerabino, Trump purchased the Palm Beach, Florida, estate from cereal empire heiress Marjorie Merriweather Post for the low, low price of $7.5 million. County appraisers, however, assessed the value of the property at $11.5 million when he bought it. This is a common practice, and new property owners are expected to pay property tax on the assessed value after the time of sale. But Donald Trump decided to cheat the county, and pay property taxes at the sales price instead of the actual value. Trump eventually wheedled out of paying the higher property taxes by giving up his development rights on some of the land to the National Trust for Historic Preservation, saving him from paying for the “highest and best use” standard normally used by tax assessors.

BREAKING: Trump Floored By MASSIVE Sales Tax Avoidance Scandal, Campaign Goes Silent

Every shitty thing is coming to the surface on this son of a bitch! He made a mistake running for the presidency! Dumbass.

 

[The Great Goose]

lucky no one cared.

 

[Snouter]

If going back to 1986 is what the Crooked Hillary folks want to do, let's talk about Crooked Hillary making $100,000 playing the cattle futures market with a little help from insiders. CPAs get graduate degrees in taxation so they get hired by folks to minimize their taxes. It is totally legal. Insider trading like Crooked Hillary did is not legal.

 

[Mac1958]

Every shitty thing is coming to the surface on this son of a bitch! He made a mistake running for the presidency! Dumbass.

Ironically, you're as crazed as any right winger here.
.

 

[initforme]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

 

[Mac1958]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

 

[initforme]

Well when 1 percent of the population controls such a big part of all the wealth .....imagine the utter cruelty of having them pay some taxes. The big picture is big money in this country controls the tax code. The laws are written to their advantage. Don't worry Richies, we got your backs .

 

[The Breeze]

Keep swinging for the fences special needs.

 

[HereWeGoAgain]

Well when 1 percent of the population controls such a big part of all the wealth .....imagine the utter cruelty of having them pay some taxes. The big picture is big money in this country controls the tax code. The laws are written to their advantage. Don't worry Richies, we got your backs .

They already pay for almost half of all taxes...you're some kind of greedy.

 

[Mac1958]

Don't worry Richies, we got your backs .

And, judging by the percentage of the tax burden they pay, they have yours, too.

Do you know that?
.

 

[billyerock1991]

If going back to 1986 is what the Crooked Hillary folks want to do, let's talk about Crooked Hillary making $100,000 playing the cattle futures market with a little help from insiders. CPAs get graduate degrees in taxation so they get hired by folks who to minimizing taxes. It is totally legal. Insider trading like Crooked Hillary did is not legal.

when you try and make shit up well the truth is out there there wasn't any wrong doing .....
Senior advisers to President Clinton and his wife said in a briefing this afternoon at the White House that Mrs. Clinton based her trades on information in The Wall Street Journal, and that she stopped trading by 1980, despite her success, because, as one senior aide put it, "she did not have the stomach for it any more and found it to be too nerve-racking."

The string of winning trades began in October 1978, as Mr. Clinton, then the state's Attorney General, was leading in polls in the race for Governor.

The White House insisted today that Mrs. Clinton received no improper financial assistance on the trades from the lawyer, James B. Blair, a close friend who at the time was the top lawyer for Tyson Foods of Springdale, Ark., the nation's biggest poultry company. Mr. Blair has said that he had suggested that she get into the commodities market, and that he used his knowledge of trading to guide her along the way.

During Mr. Clinton's tenure as Governor, Tyson benefited from several state decisions, including favorable environmental rulings, $9 million in state loans, and the placement of company executives on important state boards.

Mr. Blair and the Clintons denied any favoritism or conflict of interest when the trades were first reported earlier this month.

The commodities trades were the most successful investment the Clintons ever made. The nearly $100,000 profit enabled them to buy a house, invest in securities and real estate and provide a nest egg for their daughter, Chelsea.

In its statement, the White House said Mrs. Clinton accumulated trading profits of $49,069 in 1978 and losses of $22,548, for a net gain of $26,541. In 1979, the White House said, she had trading profits of $109,600 and losses of $36,600, for a net gain of about $73,000.

Mrs. Clinton did a small amount of commodities trading in a second account through her stockbroker at Stephens Inc. in Little Rock, Ark. In that account, according to officials, she had a net trading loss of about $1,000; she closed the account in March 1980, shortly after Chelsea was born.

 

[billyerock1991]

If going back to 1986 is what the Crooked Hillary folks want to do, let's talk about Crooked Hillary making $100,000 playing the cattle futures market with a little help from insiders. CPAs get graduate degrees in taxation so they get hired by folks who to minimizing taxes. It is totally legal. Insider trading like Crooked Hillary did is not legal.

the fact that Clinton never took how you said, a little helpp from their friends ... here's the real question you should be asking yourself ... when it deals with taxes being paid why does trump try and cheat the system

 

[Iceweasel]

They are floored and silent? Maybe everyone killed themselves? Polemic much? Looks like Trump wasn't charged with anything and it was/is a common practice, especially if you own more than one residency. I order many products out of state to avoid state tax, which is quite high. I imagine NYC is quite hefty. Now I know you good little lefties LOVE paying tax and do so at every opportunity. Right?

 

[xband]

If going back to 1986 is what the Crooked Hillary folks want to do, let's talk about Crooked Hillary making $100,000 playing the cattle futures market with a little help from insiders. CPAs get graduate degrees in taxation so they get hired by folks who to minimizing taxes. It is totally legal. Insider trading like Crooked Hillary did is not legal.

the fact that Clinton never took how you said, a little helpp from their friends ... here's the real question you should be asking yourself ... when it deals with taxes being paid why does trump try and cheat the system

Trump is under constant IRS audit and has been for many years. Trump lost almost a billion last year and obeys US Tax Law or he would be locked up.

 

[Iceweasel]

If going back to 1986 is what the Crooked Hillary folks want to do, let's talk about Crooked Hillary making $100,000 playing the cattle futures market with a little help from insiders. CPAs get graduate degrees in taxation so they get hired by folks who to minimizing taxes. It is totally legal. Insider trading like Crooked Hillary did is not legal.

the fact that Clinton never took how you said, a little helpp from their friends ... here's the real question you should be asking yourself ... when it deals with taxes being paid why does trump try and cheat the system

If the system is run by greedy leftists it will be very costly to make them happy. That's why.

 

[initforme]

This is beyond old news. We know that the one percent controls everything and the laws are written by them, for them and both sides are guilty. That's why I cannot justify voting for anyone in the one percent.

 

[billyerock1991]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

hers my question to you help me understand ... you make 20,000 a year each and every time you get paid money is taken out ... you do your taxes you find out of that money you paid in for your federal taxes you're getting back 350.dollars ... how is that you didn't pay any taxes ... even welfare people are taxed and yet they are said to be not paying any taxes ... how do they come to this conclusion they don't pay any taxes ...I don't understand how they come to this conclusion ... can you explain to me so I can understand ...I'm serious here, not trying to bull shit here

 

[billyerock1991]

If going back to 1986 is what the Crooked Hillary folks want to do, let's talk about Crooked Hillary making $100,000 playing the cattle futures market with a little help from insiders. CPAs get graduate degrees in taxation so they get hired by folks who to minimizing taxes. It is totally legal. Insider trading like Crooked Hillary did is not legal.

the fact that Clinton never took how you said, a little helpp from their friends ... here's the real question you should be asking yourself ... when it deals with taxes being paid why does trump try and cheat the system

If the system is run by greedy leftists it will be very costly to make them happy. That's why.

you are spouting bull shit here ...the question here is why do you think trump not paying his state taxes is ok... I'm not concerned on what you say hillary siad ... I'm asking you a serious question ... if eveyrbody doesn't pay their state takes how well do you think that state will run...

 

[Iceweasel]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

hers my question to you help me understand ... you make 20,000 a year each and every time you get paid money is taken out ... you do your taxes you find out of that money you paid in for your federal taxes you're getting back 350.dollars ... how is that you didn't pay any taxes ... even welfare people are taxed and yet they are said to be not paying any taxes ... how do they come to this conclusion they don't pay any taxes ...I don't understand how they come to this conclusion ... can you explain to me so I can understand ...I'm serious here, not trying to bull shit here

It would help you to have some basic working knowledge. Ever heard of Earned Income Tax Credit?

 

[Mac1958]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

hers my question to you help me understand ... you make 20,000 a year each and every time you get paid money is taken out ... you do your taxes you find out of that money you paid in for your federal taxes you're getting back 350.dollars ... how is that you didn't pay any taxes ... even welfare people are taxed and yet they are said to be not paying any taxes ... how do they come to this conclusion they don't pay any taxes ...I don't understand how they come to this conclusion ... can you explain to me so I can understand ...I'm serious here, not trying to bull shit here

The bottom line is the net Effective Tax Rate - this is the percentage of your AGI (Adjusted Gross Income) that you paid to the government in federal taxes for that calendar year, after deductions and credits. Once you have done your taxes.

So yes, at $20,000 you're probably paying a few dollars during the course of the year through your paychecks, but the question is how much you paid after receiving your refund, once all the dust has cleared, including low income credits.
.