Trump's Taxes Show He Engineered A Sudden Windfall in 2016 [View all]

[highplainsdem]

Source: NY Times

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And the president’s long-hidden tax records, obtained by The New York Times, also reveal this: how he engineered a sudden financial windfall — more than $21 million in what experts describe as highly unusual one-off payments from the Las Vegas hotel he owns with his friend the casino mogul Phil Ruffin.

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The tax records, by their nature, do not specify whether the more than $21 million in payments from the Trump-Ruffin hotel helped prop up Mr. Trump’s campaign, his businesses or both. But they do show how the cash flowed, in a chain of transactions, to several Trump-controlled companies and then directly to Mr. Trump himself.

The bulk of the money went through a company called Trump Las Vegas Sales and Marketing that had little previous income, no clear business purpose and no employees. The Trump-Ruffin joint venture wrote it all off as a business expense.



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“Why all of a sudden does this company have more than $20 million in fees that haven’t been there before?” said Daniel Shaviro, a professor of taxation at the New York University School of Law. “And all of this money is going to a man who just happens to be running for president and might not have a lot of cash on hand?"

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Read more: https://www.nytimes.com/interactive/2020/10/09/us/donald-trump-taxes-las-vegas.html

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Mods, please note: The headline above is the one showing up on Twitter links and on Google.

The NYT page itself reads:

THE PRESIDENT’S TAXES
TRUMP ENGINEERED A SUDDEN WINDFALL IN 2016 AS CAMPAIGN FUNDS DWINDLED
Tax records expose more than $21 million in highly unusual payments from the Las Vegas hotel Donald Trump owns with Phil Ruffin, routed through other Trump companies and paid out in cash.


By Susanne Craig, Mike McIntire and Russ Buettner

Jon Ralston thread about this article starting here (the second tweet in this thread links to the NYT article and shows the headline I've used for posting this OP):

Link to tweet