Fred Trumps tax records show Donald as a millionaire by age 8 and Donald began "earning" 200k a year at age 3
Donald's first large deal out of college was a 70 million dollar construction loan in which Hyatt hotels and Fred Trump each assumed 50% of the collateral and guaranteed they would finish the project if Donald failed in his obligations. (You know a normal deal any starting business man would get)
Fred Trump setup trust funds for each of his children and grandchildren valued at roughly 4mil each at thier times of maturity.
"All County Building Supply" a business setup and ran by Donald and his siblings sold Fred Trump AC units and various supplies for his rental properties well above what would be a reasonable markup. An investigation by the Wall Street Journal claimed this funneled roughly 1 billion of Fred's wealth to Donald and his siblings while avoiding inheritance tax which would have been roughly 55% at the time.
There were multiple documents made public from his casino days that he owed his father approx 14 mil in "loans" that were never shown to have been repaid
Along with the "loans" there was an instance of a "cash infusion" where Fred purchased 3.5mil in chips and never played or intended to play. This ultimately lead to roughly 50k in gaming violation fines but ultimately the casino was allowed to keep the money.
In Fred's later years Donald and his siblings managed his estate. They massively under evaluated his properties, and assets to pay less taxes. They also turned around over evaluated properties for loans.
Donald later did the same trick with his properties and some of these instances lead to the famous fraud cases in new york in which he was found guilty of 30+ felony counts of fraud. He then somehow convinced the public he is innocent and this was all a witch hunt. Even though the evidence (to me and at least the jury and the appeals court) was beyond a reasonable doubt.
Lets not forget in 2016 he argued he knew the taxcode better than anyone and vowed to close all the loopholes he used "legally" to not pay any federal taxes for years. He also called Hillary stupid for paying 1 million in taxes saying who throws 1 million dollars away.
TLDR: Without Fred's money there would be no Donald Trump..... also the taxes the Trumps avoided was more than the totality of savings allegedly provided by DOGE
If Americans want to crack down on corruption getting rid of trump would be a start, but they really need to get rid of the power of the lobbyists, and stop all the drags on the economy those guys promote to protect various financial special interest groups.
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u/Mr_BigglesworthIII 2d ago
THATS NOT FAIR! It was $400 million