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TRUMPS DEALS

One of his financial transactions under scrutiny by the NY Attorney General reported by the Washington Post is an unusual tax break.  Trump took a $21 Million dollar tax break for saving the forest outside his N.Y. mansion.  The N.Y. Attorney General Letitia James (D) is investigating whether the Trump Organization inflated the value of the Seven springs property as part of the conservation easement on his property. 

Trump had requested and received a conservation easement tax break on the property.  Promising the land not to be developed.  The size of the tax break depends on the value of the property if it were developed.  Trump claimed he had permission to build 24 lots on his property and the value of the development determined the tax break.  Trump claimed to be giving up all of this just to conserve the forest.  Trump did not actually have permission to build, he had asked and they did not give permission to build any of them .  Trump organization  had lied by claiming something he did not have.  The benefit of the lie was a 21 million dollar tax credit.  Trump also claims this property was an investment property for use by his family as a retreat on their web page and claimed a 2.2 million write-off without any income source. 

When it rains it pours, in other news about Trump’s tax deals the NYTimes had a front page article concerning another 21 million dollars.  The article “Low on cash in’16, Trump generated his own windfall.”

The NYTimes article tracked potentially shady dealings involving millions of dollars and it’s movement through the Trump organization and perhaps winding up in the Trump Campaign coffers.  The NYTimes article hones in on the relationship that Trump has with Las Vegas developer Phil Ruffin and the Trump Hotel in Las Vegas. 

The Trump campaign in 2016 self-funding efforts fell short.  Trump was developing the post office, losing money in his hotels and golf courses.  Trump was cash strapped in early 2016 and had sold a lot of stock to cover his bleeding properties losses and a part of self-funding his campaign, Jan, $11.1 million, Feb. $11.8 million, Mar. $7.5 million and Apr. $8.1 million more.

Trump had attempted to borrow money from Deutsche bank.  The last big lender willing to deal with the 4 time bankrupt organization.  He told the bank he wanted the funds to shore up his golf resort in Scotland.  They turned down his request.  The bankers feared he would use the money for his campaign.  Being cash strapped everyone wondered how he came up with a $10 million contribution.  His tax long hidden records reveals how a $21 million sudden windfall was engineered.  The actions reveal potentially either a tax  law or a campaign law violation that is now being investigated by NY Attorney General.

The $21 million was given by the Trump-Ruffin joint venture as payment for fees with the majority of the money going to a company called Trump Las Vegas Sales and Marketing.  All of a sudden there is $21 million in fees? A shell company with no employees, or income or business purpose.  The Trump-Ruffin JV wrote off the $21 million as a business expense.  Eventually the money wound up with Mr. Trump.  What cannot be determined whether the money helped his business, his campaign or both.  The money was traced through a chain of transactions, to several Trump controlled companies then directly to Trump.

It is curious where were the previous fees? For what are these fees for?  Unless the payment was for a legitimate actual business expense, claiming them as a tax deduction is illegal.  If the business expenses were not legal the campaign contribution would also be considered as an illegal campaign contribution

Ruffin a Trump promoter once told the press: “You won’t hear this in the media, but Donald gave $20 million to St Jude children’s home”, he said.  He could have used that $20 million for TV adds but,  he decided to give it to the children of cancer.”  Nice gesture but totally false.  There is no record in his tax records and no acknowledgement by St. Jude that he had made any such contribution.

In 2015 Mr. Ruffin gave a Trump PAC $1 million in seed money for a “Make America Great Again super PAC.  The money was refunded when the PAC was found to violate the law by coordinating with the Trump campaign. And the PAC was dissolved. 

These deals along with the Trump University scam paying off millions to attendees.  Oh what about the scam of the Trump non-profit organization forced to cease operation and pay restitution for misuse of funds.  Trump Airlines no longer in operation, Trump Steaks and a myriad of other ventures. 

Take the casino tax scam that cost taxpayers 1 billion in Trump write-offs.  What a businessman, he can’t even keep a casino open.  When he sold his remaining interest after bankruptcy which included the retirement accounts of the employees that had included health care benefits to Carl Icahn.  Carl then eliminated the health care benefit from the retirement package thus gaining a profit on the sale.  I wonder how much Carl then gave to the Donald for his campaign after that sweetheart deal?  I guess when you start eliminating health care for individuals it becomes a habit, take the ACA, or will the Supreme Court take the ACA away as Donald’s team wants.  His team is the remainder of the party of stupid?

The swamp was replaced with the cesspool that Trump built with his bare hands.  In another NY Times article investigation found over 200 companies, special interest groups, and foreign government officials have patronized Mr. Trump’s properties while reaping the benefits of access to him and his administration.  There are obvious violations to the emoluments clause of the Constitution.  The public should have the ability of to claw back any and all dollars spent by any foreign interests.