trump (the former guy, defamer, insurrectionist, contemnor, and rapist - $537M)

[Greatgrey]

The Ways & Means Report on taxes

https://waysandmeans.house.gov/sites/de ... 0Means.pdf

B92DBBD7-92AD-4E0D-A60B-C51B14ABF36B.jpeg (361.68 KiB) Viewed 1120 times

[pipistrelle]

I am a wounded survivor of the trial of the Bundynistas and their Malheur Wildlife Refuge crimes. By the time all those asshats were acquitted of all charges, many felt (including me) that the government screwed up big time. The AUSA over-charged. The AUSA overwhelmed the jury with too much evidence. The AUSA mis-charged. I think all those factors led the jurors to acquit. A couple of them said that it was obvious there were crimes committed, but they perceived a disconnect with what was presented versus the crimes charged. They had no option but to acquit.

Even if the government overcharged (I don’t think they did), there is no way the guy caught with the government vehicle in town should have been acquitted.

I don't think these cases have much in common. In Oregon, you had a sympathetic jury and some jury shenanigans, some lawyer shenanigans (what with showing up late, etc.), what technically isn't jury tampering but a lot of "protesting," and a judge who was trying maybe too hard to avoid appeals. Plus, the charges may not have clearly fit what happened, except a stolen vehicle is a stolen vehicle. What happened with the two jurors told me what was going to happen. Bunkerville and Malheur should have been slam dunks and weren't, and the government (FBI and DOJ) are mainly to blame, along with the prodigious Bundy PR machine (I met people sympathetic to that poor put-upon "family"). FBI should have given them an ultimatum, then cut them off when they refused to clear out. They should have been charged with what they did to the Malheur Field Station.

There's just not a lot of similarities, except that people ate up Bundy lies and the same people lap up tfg lies. Although the "trading card" thing seems to have given them an atom of a clue.

[Volkonski]

Jennifer Bendery
@jbendery@birdsite.tcjc.uk
[RT @MuellerSheWrote]
BREAKING: Cassidy Hutchinson HAS SPOKEN WITH THE DOJ about trump's lawyer PASSANTINO instructing her to testify "I don't recall". Pretty clear cut case of witness tampering. https://t.co/JAsdWQphRT

[Volkonski]

The New York Times :verified:
@nytimes@news.twtr.plus
In his first three years as president, Donald Trump paid $1.1 million in taxes but paid $0 as his income dwindled and losses once again mounted in 2020, data released by a House committee shows. https://nyti.ms/3GaO8qq

[Gregg]

He looks like an idiot in that hat all the time. Every day must be a bad hair day.

It's former hair now.

[Suranis]

Oh no please don't. The Yewmanity.

Acyn@Acyn

Kevin Brady (R-TX) warns that releasing Trump’s tax returns could lead to the release of tax returns of Supreme Court Justices

Are they trying to scare the Supremes into blocking this? Is this blatant interference in the court? Does Kavenaugh declare his beer money in his taxes? Does Alito declare the support beams he needs to keep his head supported?

[RTH10260]

They will not open up their taxes, it would show that they spent nothing on keeping their combined spines up

[Tiredretiredlawyer]

https://www.dailykos.com/stories/2022/1 ... -you-think
By Kurt Eichenwald

Trump's trading card grift is worse than you think.

So, writing about my own substack post is a little….odd. But I decided yesterday to trace down Trump’s business partners in his sleazy trading card grift, and even I was shocked at what I found (and kind of surprised no other news outlet has.)

Start with my favorite part: People who buy these NTFs don’t even fully own them. They are denied all sorts of rights of ownership, but the best: If they find someone to sell the digital cards to, they have to kick back 10% of the sale price to Trump and his fellow grifters.

But going on from there: Trump himself is not producing these NFTs. Instead, in March he set up an entity — called CIC — which holds the rights to his image and name for NFT licensing. Then he licensed it to a group called NFT International, LLC (also set up in March.) The layers and layers of business covers are quite — well, unimpressive, just low-level New Jersey scuzzy type of sleaze. But sleazy nonetheless.

I traced NFT International to a mailbox at a UPS Store in a strip mall in Utah, but then from there to an office building in Wyoming, and finally to a tiny brick house (shown above) in Cheyenne. That house is the corporate “home” for scores of business entities, including a huge number of fraudsters and international criminals.

► Show Spoiler

The companies registered by Wyoming Corporate at 1712 Pioneer, ending up with the final address at 2710 Thomes Avenue, includes a number operated by a rogue’s gallery of criminals. They have included a New Jersey company (strangely called New York Machinery) that sold military car and tractor trailer parts to the Defense Department….former Ukrainian Prime Minister Pavlo Lazarenko, who was once ranked the eighth-most corrupt official in the world by watchdog group Transparency International. In 2004, he was sentenced to eight years in prison in California for money-laundering and extortion, a scam that used shell companies and offshore bank accounts to hide stolen Ukrainian government funds….Also set up there is Ira N. Rubin - just one more con artist. In 2006, the Federal Trade Commission went to federal court in Tampa, Florida and sued Rubin for fraud. According to the lawsuit, Rubin used at least 18 different front companies to hide his role as a credit-card processor for telemarketing scams.

[RTH10260]

Kurt RIche has the full article on his substack The Threats Within at:

https://threats.substack.com/p/trumps-t ... t-is-worse


Article is free, though he asks for subscription to his newsletter or a sponsorship (Click-thru)

[RTH10260]

our FL senior citizen is back full in New York mobster mode

[noblepa]

Are they trying to scare the Supremes into blocking this? Is this blatant interference in the court? Does Kavenaugh declare his beer money in his taxes? Does Alito declare the support beams he needs to keep his head supported?

Maybe its a not-so-veiled threat to those Justices who might consider voting to allow the House to release TFG's tax returns. "If you allow this to happen, when we take control of the House, we will release YOUR tax returns!".

[humblescribe]

Here is a little-known fact about the beloved Internal Revenue Code that I would bet very few on here know:

Form 8824 is the form used to report the deferred gain of a real estate like-kind exchange. The Trumpian Tax and Wealthy Windfall Act of 2017 eliminated like-kind exchanges for personalty, except . . . .

However, there is a part of the form at the bottom that allows for gain deferral on dispositions of "conflict of interest sales." The rule specifies that "Certain members of the executive branch of the federal government and judicial officers of the federal government use Part IV to elect to defer the gain on conflict-of-interest sales. Judicial officers of the federal government are the following:"

1. Chief Justice of the United States Supreme Court.
2. Associate justices of the United States Supreme Court.
3. Judges of the courts of appeals; US District Courts, Court of Appeals for the Federal Circuit, Court of International Trade, Tax Court, Federal Claims Court, and the rest of the Article I courts.

I wonder how many of our beloved federal judges have actually gone through the exercise to rid themselves of any conflicting assets and reported them properly. I wonder how many of these judges even know the law . . . . .

[RTH10260]

An Early Trump Backer's Message to the Republican Party: Dump Him

Blake Hounshell
Wed, December 21, 2022 at 1:59 PM GMT+1

The greatest threat to Donald Trump’s grip on the Republican Party has always come from the ranks of his own supporters, rather than those who disliked him all along. So it’s significant that one of his earliest backers is coming out swinging against him.

In February 2016, when Rep. Tom Marino became one of the first Republican members of Congress to endorse Trump, he called the decision “one of my life-changing moments” and hailed the presidential candidate as a fresh voice who was not beholden to Wall Street.

At the time, Trump was still locked in a tight nomination battle with Sen. Ted Cruz of Texas, and he was struggling to attract support from elected officials. Marino, a former prosecutor who represented a rural district in northern Pennsylvania, didn’t just endorse him. He was a loud and proud Trump booster who helped steer his campaign in the state and joined his presidential transition team after he won.

Trump expressed fondness for Marino and Lou Barletta, a fellow member of Congress and co-chair of the Trump campaign in Pennsylvania, calling them “thunder and lightning.”

As president, Trump tapped Marino to be director of the Office of National Drug Control Policy, though Marino withdrew after questions about his record on opioids. He resigned from Congress in 2019 soon after beginning his fifth term, citing recurring kidney problems.

During this year’s Republican primary for governor in Pennsylvania, Marino sharply criticized Trump for refusing to endorse Barletta, who lost that race to Doug Mastriano. Now, he is urging his fellow Republicans to move on.

“I think the Republican Party has to do whatever it has to do to get away from Trump,” Marino said in an interview. “He certainly, I think, has cost the party losses in this election that we had in November. I’m deeply disappointed in him.”




https://www.yahoo.com/news/early-trump- ... 28519.html

(Original: NYT)

[much ado]

Kevin Brady (R-TX) warns that releasing Trump’s tax returns could lead to the release of tax returns of Supreme Court Justices.

Are they trying to scare the Supremes into blocking this? Is this blatant interference in the court? Does Kavenaugh declare his beer money in his taxes? Does Alito declare the support beams he needs to keep his head supported?

Is there any legal action underway, at all, to prevent Trump's tax returns from being released by the committee to the public? I can't find any.

So threats to SCOTUS are useless. They cannot jump into this. Can they?

[Azastan]

Kevin Brady (R-TX) warns that releasing Trump’s tax returns could lead to the release of tax returns of Supreme Court Justices.

Are they trying to scare the Supremes into blocking this? Is this blatant interference in the court? Does Kavenaugh declare his beer money in his taxes? Does Alito declare the support beams he needs to keep his head supported?

Is there any legal action underway, at all, to prevent Trump's tax returns from being released by the committee to the public? I can't find any.

So threats to SCOTUS are useless. They cannot jump into this. Can they?

Exactly who would be threatened by this? I think it's more likely that the conservatives on the court would be more worried about the release of their tax returns.

[Greatgrey]

Hee hee…. Let’s see if he heeds the warning.

A federal judge in Florida (who recently sanctioned Trump's lawyers for filing a *different* frivolous lawsuit) is strongly urging Donald Trump to reconsider his lawsuit against AG Letitia James, because it is headed the same way.

[Suranis]

[Phoenix520]

I wish they had called him ‘little buddy’.

[much ado]

How long is it going to take before Trump comes out with a statement along the lines of...

"Yes, of course, I'm rich. I'm just smart enough to make it look like I'm losing money when I'm actually making gobs of it!"

[Slim Cognito]

Oh please, oh please, oh please...

[RTH10260]

Journey bandmates in legal fight over performance for Donald Trump
Guitarist Neal Schon issues cease-and-desist order to keyboardist Jonathan Cain over performance of Don’t Stop Believin’ at Mar-a-Lago

Sian Cain
Thu 22 Dec 2022 01.32 GMT

A member of prog rock band Journey has served a fellow bandmate with a cease-and-desist order for performing their hit Don’t Stop Believin’ with several high-profile Republicans for Donald Trump at Mar-a-Lago last month, calling the performance “harmful” to the band.



https://www.theguardian.com/music/2022/ ... nald-trump

[noblepa]

Looking at those figures for how much TFG made/lost and how much he paid in taxes, it occurs to me that one of the reasons he shows so little taxable income is that, being in the real-estate business, he has enormous depreciation deductions.

However, given the allegations that he overstated the value of many of his properties, wouldn't that lead to larger deductions than he really was entitled to? If it is proven in the NY cases that he did this, could the IRS re-visit some of his returns and challenge those deductions, resulting in large tax bills and penalties? Possibly even criminal charges of tax evasion?

[Kendra]

What was that about pleading the Fifth?

[Annrc]

Looking at those figures for how much TFG made/lost and how much he paid in taxes, it occurs to me that one of the reasons he shows so little taxable income is that, being in the real-estate business, he has enormous depreciation deductions.

However, given the allegations that he overstated the value of many of his properties, wouldn't that lead to larger deductions than he really was entitled to? If it is proven in the NY cases that he did this, could the IRS re-visit some of his returns and challenge those deductions, resulting in large tax bills and penalties? Possibly even criminal charges of tax evasion?

Overstated values = larger depreciation deductions. Wow! What a mess. Also, is the IRS tracking the add back of deductions taken upon resale of properties which would possibly result in taxes being owed?

[MN-Skeptic]

I never dealt with real estate businesses when I was a tax accountant, but I think that you depreciate what you've paid for the property. Say, for example, that you paid $10 million for a piece of property. First you have to allocate that price between the land and the buildings. Buildings depreciate, land doesn't. So that purchase may be a $1 million land purchase plus a $9 million building purchase. If you want people to rent offices or apartments in your building, you brag up the worth of your building. You declare that this is a $15 million dollar building and that's why you want to rent an office there and why you will pay a premium price. Of course, when the real estate taxing authorities look at your building and declare it worth $15 million, you protest. That would greatly increase your taxes! Based on comparables in the area, it's certainly not worth even $8 million.

But borrowing to buy real estate provides a nice income tax deduction. And the more you can convince a lender that your building is worth, the more you can borrow. Which allows you to buy more buildings.

A more experience tax professional can provide more detailed information on the advantages of the real estate business.