Another tax bombshell: Daddy Trump had to set up $38 million slush fund to bail Donald out prior...
Source: RawStory/Newsweek
Another tax bombshell: Daddy Trump had to set up $38 million slush fund to bail Donald out prior to 1980
According to the latest bombshell report from Newsweek writer Kurt Eichenwald, the recent report from the New York Times that GOP presidential nominee Donald Trump took a massive financial hit in 1995 was not his first brush with business failure.
Over the weekend, the New York Times was able to obtain tax documents showing Trump took a $915 million loss in 1995, which would have allowed him to possibly avoid paying income taxes for 18 years.
According to Eichenwald, at the same time that Trump and his surrogates are attempting to spin those losses as an example of Trump’s “genius,” documents show Trump had to be bailed out years earlier by his father who was forced to set up a $35 million credit line for his son at Chase Manhattan Bank.
Based upon files found at Division of Gaming Enforcement for the New Jersey Department of Law and Public Safety, Trump applied for a gaming license in 1980 which led to a state investigation into his background.
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Read more: http://www.rawstory.com/2016/10/another-tax-bombshell-daddy-trump-had-to-set-up-38-million-slush-fund-to-bail-donald-out-prior-to-1980/
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More bad news for Donald.
I'm pretty sure a blindfolded orangutan could have done as well as TheRump just by picking investment options out of a hat.
