Should there be a statue of limitation on tax evasion?
Should trump have higher morals since he is the president?
Should he be prosecuted for helping his parents evade taxes?
Wednesday, October 3, 2018
Trump Engaged in Suspect Tax Schemes by Marissa J.
https://www.msn.com/en-us/news/politics/trump-engaged-in-suspect-tax-schemes-as-he-reaped-riches-from-his-father/ar-BBNQIfU
In the 1990s President trump participated in dubious tax schemes including fraud that increased the fortune from his parents tremendously. The New York Times investigated the accusations. Records show that trump helped his father take improper tax deduction worth millions more. The president's parents transferred well over $1 billion in wealth to their children which could have produced a tax bill of at least $550 million under the 55% tax rate on gifts and inheritances. Trump refused to release his income tax returns even though past presidents made it a practice. In 1987 Trump’s loan debt to his father was at least $11 million. Canceling the debt would have resulted in him having to pay millions in taxes. Father and son found another solution which involved an unreported multimillion-dollar gift and a potentially illegal tax write-off. It is an open secret that the evasion of gift taxes is rampant and rarely prosecuted. Times found evidence that trump dodged hundreds of millions of dollars in gift taxes by submitting tax returns that grossly undervalued his gifts. According to tax experts, it is highly unlikely that Trump would be vulnerable to criminal prosecution because the act happened too long ago and are past the statute of limitations.
Should there be a statue of limitation on tax evasion?
Should trump have higher morals since he is the president?
Should he be prosecuted for helping his parents evade taxes?
Should there be a statue of limitation on tax evasion?
Should trump have higher morals since he is the president?
Should he be prosecuted for helping his parents evade taxes?
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I do not think there should be a statute of limitations on tax evasion because that allows too many people to commit this crime and get away with it.I think that President Trump should be held to higher morals now. The President is someone that the American people can look up to and I think that not only Trump, but everyone in that position should adopt higher morals. Even though I am a Trump supporter, if he committed a crime, he should be prosecuted for this because no one is above the law, even the President of the United States.
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