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Laurie Garrett @Laurie_Garrett
, 5 tweets, 4 min read Read on Twitter
The 11 take-home messages from @nytimes massive investigation of #Trump Family wealth:
1.) The Trumps’ tax maneuvers show a pattern of deception,
2.) Donald Trump began reaping wealth from his father’s real estate empire as a toddler
[cont.2]
3.) That ‘small loan’ of $1 million was actually at least $60.7 million — much of it never repaid
4.) Fred Trump wove a safety net that rescued his son from one bad bet after another
5.) The Trumps turned an $11 million loan debt into a legally questionable tax write-off
[cont3]
6.) Father and son set out to create the myth of a self-made billionaire
7.) Donald Trump tried to change his ailing father’s will, setting off a family reckoning
8.) The Trumps created a company that siphoned cash from the empire
[cont4]
9.) The Trump parents dodged hundreds of millions in gift taxes by grossly undervaluing the assets they would pass on
10.) After Fred Trump’s death, his empire’s most valuable asset was an I.O.U. from Donald Trump
[cont5]
11.) Donald Trump got a windfall when the empire was sold. But he may have left money on the table.
nytimes.com/2018/10/02/us/…
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