If you think Donald Trump is wrecking the republic and wonder why so many Americans can’t see that he is, you may be asking the wrong question. What if they see the same thing you do and happen to like what they see?Garrett Keizer in The New Republic: “Nihilist Nation — The Empty Core of the Trump Mystique”
The manipulation of values to evade taxes was central to one of the most important financial events in Donald Trump’s life. In an episode never before revealed, Mr. Trump and his siblings gained ownership of most of their father’s empire on Nov. 22, 1997, a year and a half before Fred Trump’s death. Critical to the complex transaction was the value put on the real estate. The lower its value, the lower the gift taxes. The Trumps dodged hundreds of millions in gift taxes by submitting tax returns that grossly undervalued the properties, claiming they were worth just $41.4 million.
The same set of buildings would be sold off over the next decade for more than 16 times that amount.
The most overt fraud was All County Building Supply & Maintenance, a company formed by the Trump family in 1992. All County’s ostensible purpose was to be the purchasing agent for Fred Trump’s buildings, buying everything from boilers to cleaning supplies. It did no such thing, records and interviews show. Instead All County siphoned millions of dollars from Fred Trump’s empire by simply marking up purchases already made by his employees. Those millions, effectively untaxed gifts, then flowed to All County’s owners — Donald Trump, his siblings and a cousin. Fred Trump then used the padded All County receipts to justify bigger rent increases for thousands of tenants.
American history is full of stories of black people doing precisely what America says it wants of its citizens — being creative, enterprising and industrious, being self-respecting and self-sufficient — only to have white people destroy what they’ve built, impede their progress and erase their wealth. And those are not far-off stories: Those are also the stories of the living.