Money To Support Trump Court Fight Could Flow To President
WASHINGTON As President Donald Trumps chances of reelection dwindled last week, his campaign began blasting out a nonstop stream of emails and text messages that led to a website raising money for an election defense fund to contest the outcome.
Like many hallmarks of the Trump presidency, the messages contained all-caps lettering and blatant mistruths about voter fraud during the Nov. 3 election. They also mislead supporters about where the money would go.
Trump has promised to contest President-elect Joe Bidens win in court. But the fine print indicates much of the money donated to support that effort since Election Day has instead paid down campaign debt, replenished the Republican National Committee and, more recently, helped get Save America, a new political action committee Trump founded, off the ground.
The unusual way the Trump campaign is divvying up the contributions has drawn scrutiny from election watchdogs, who say Trump and his family are poised to financially benefit from the arrangement.
This is a slush fund. Thats the bottom line, said Paul S. Ryan, a longtime campaign finance attorney with the good government group Common Cause. Trump may just continue to string out this meritless litigation in order to fleece his own supporters of their money and use it in the coming years to pad his own lifestyle while teasing a 2024 candidacy.
Trumps approach is far different.
House Subpoenas And Court Rulings
On May 10, 2019, House Ways and Means Committee chairman Richard Neal subpoenaed the Treasury Department and the IRS for six years of Trump’s tax returns. Seven days later, Treasury Secretary Steve Mnuchin refused to comply with the subpoenas.
On May 20, 2019, President Trump lost an unrelated lawsuit in which he sought to stop his accounting firm, Mazars USA, from complying with a subpoena from the House Oversight Committee for various financial records. The ruling against Trump was issued by Judge Amit Mehta of the United States District Court for the District of Columbia, who also denied the president a stay of the ruling pending any future appeal.
On November 4, 2019, the 2nd U.S. Circuit Court of Appeals in New York upheld the lower court ruling. On December 10, 2019, the 2nd U.S. Circuit Court of Appeals in New York issued a ruling which again found that the lower court had acted properly in upholding the congressional subpoenas for Trump’s financial records, but this time also ordered for Deutsche Bank and Capital One to cooperate in releasing the financial records as well.
On July 9, 2020, the U.S. Supreme Court ruled 72 that Trump cannot continue to keep his financial records secret, but ruled they should instead be given to the Manhattan District Attorney rather than the U.S House of Representatives. The Supreme Court denied a request for a stay on February 22, 2021, and the Manhattan District Attorney received the financial records that same day.
Tv And Movie Appearances
Having built up his reputation as a formidable businessman, Donald Trump became the executive producer and star of NBC show The Apprentice, which debuted in 2004. Excellent ratings didnt just make Trump a household name, it also paid well. The host reportedly made $427 million in earnings, endorsements and licensing from the shows 14 seasons. When merchandise and spoofs started to pop up using Trumps infamous phrase Youre fired!, he attempted to reap royalties from its popularity by trademarking the expression, but was unsuccessful.
More on this and other unusual trademark battles
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The Bond Market: Us$257 Million In Loans Taken Against Several Of The Most Famous Trump Properties Have Been Packaged Along With A Bunch Of Non
The banks that originated these mortgages sold them to a CMBS trust, bundling them with other loans and transforming them into tradable debt securities. A servicer is responsible for collecting payments from borrowers. Should borrowers fail to make a payment, a special servicer steps in to get the borrower paying again or foreclose. It is these debt collectors that could be crucial should Mr Trumps properties fall into arrears.
Yes Donald Trump Is Still A Billionaire That Makes His $750 Tax Payment Even More Scandalous
Donald Trump
Is Donald Trump really a billionaire? everyone seemed to be asking Sunday night, after the New York Times dropped a bombshell report about the presidents taxes, which detailed big losses in some years and limited income in others. The answer: Yes, he is indeed.
In fact, Trump is a multibillionaire, worth $2.5 billion, by our count. His portfolio, which includes commercial buildings, golf properties and branding businesses, is worth an estimated $3.66 billion before debt. The president has a fair amount of leverageadding up to a roughly $1.13 billionbut not enough to drag his net worth below a billion dollars.
To understand how Donald Trump could be so richyet look so poorits essential to comprehend the difference between what well call taxable income and operating income. Taxable income is the amount people tell the Internal Revenue Service they earned, after subtracting a bunch of things like depreciation, interest, past losses and, in Trumps case, questionable business expenses. Operating income captures the amount businesses make from their standard operations, ignoring a bunch of fancy accounting tricks and financial maneuvers.
Theres the tax world, and then theres the real world, says Eric Anton, a commercial real estate broker in New York City. Theyre totally different.
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Hes Taking His Show Back On The Road And Bringing A Special Guest
In an uncharacteristicallyprecedented post-presidential move, Donald Trump is going on tour. Hell make four stops in Texas and Florida this December, sitting down with former Fox News host Bill OReilly to discuss exactly how things were accomplished, as well as challenges, both good and bad, during the four years of Mr. Trumps presidency. Regular tickets to the History Tour will cost between $100-$300, but superfans can purchase a VIP Meet & Greet Package for upwards of $8,500 if they want to attend a 45-minute pre-show reception and get a picture with the two men, who have both been accused of sexual harassment.
Per Politico, the Trump-OReilly dynamic duo are struggling to fill seats. We have concerts that are doing a lot better than this, a source told the website, noting that Bad Bunny and Kane Brown concerts at the same venue in Orlando have already sold out. Meanwhile, 60-65 percent of the Houston seats remain empty, and sales for the Sunrise, Florida, event havent met expectations. Bill OReilly these claims bullshit and threatened to sue Daniel Lippman, the author of the Politico piece.
Hotel Licensing And Management $42 Million
When youre as famous as Donald Trump, you dont need to put money on the line in order to make money on real estateyou can also license your last name to other developers who want to plaster it on their own buildings. As of 2017 The Trump Organization had no fewer than 50 licensing or management agreements throughout the world.
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Federal Law Bars Donations To Most Federal Agencies
Federal regulations bar many government agencies from accepting donations unless approved by Congress. If Congress does not approve them, the money goes to the Treasury Department’s general fund.
While gifts to the United States do not require statutory authority, gifts to an individual federal agency stand on a different footing,” the law says. “The rule is that a government agency may not accept for its own use gifts of money or other property in the absence of specific statutory authority … As the Comptroller General said in that decision, hen the Congress has considered desirable the receipt of donations . . . it has generally made specific provision therefor . . . . Thus, acceptance of a gift of money or other property by an agency lacking statutory authority to do so is an improper augmentation. If an agency does not have statutory authority to accept donations of money, it must turn the money in to the Treasury as miscellaneous receipts.
Despite these regulations White House spokesman Judd Deere confirmed to USA TODAY that all of the federal agencies to which Trump has donated have received the money.
More:Trump blasts Supreme Court decision on financial records, saying it showed a lack of deference
Trump Still Earns Money
Trump still profits off property he owns, including the Trump International Hotel in Washington and Trump Tower in New York. He also earns money from the rights to a U.K. television spinoff of “The Apprentice” and various properties in the United Arab Emirates, Indonesia, Scotland and the Philippines. So imprecise claims that Trump works for no money are not totally accurate.
Democratic lawmakers are appealing a case against the president because they believe that this profiting, combined with the fact that his hotels have reportedly been frequented by foreign diplomats from around the world since his term began, as The Hill reported, violates the foreign and domestic emoluments clauses of the Constitution.
The foreign emoluments clause states that no government official can receive gifts from king, prince or foreign state. The domestic emoluments similarly says the president cannot receive any other Emolument from the United States, or any of them.
For example, the New York Times reported the government of Kuwait spent tens of thousands of dollars on a gala at the Trump International Hotel in Washington from which Trump profited. The Kingdom of Saudi Arabia owns a floor and pays thousands of dollars a year in common charges for building amenities at the Trump World Tower in New York, from which Trump also profits.
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Wealth Of Donald Trump
| This article is part of a series about |
The net worth of Donald Trump is not publicly known. Various news organizations have attempted to estimate Trump‘s wealth. Forbes estimates it at $2.4 billion as of 7 April 2021. Trumps wealth arises from a variety of sources, including gifts, loans, and inheritance from his father trust funds suspected fraudulent arrangements fundraising and business deals and investments.
How Refunds To Trump Donors Soared In 2020
Refunds are shown as the percentage of money received by each operation to date via WinRed and ActBlue.
Trump
Around March 2020, the pre-filled check box first appeared on Mr. Trumps online donation form.
Total online refunds in 2020, in millions
$122
Around March 2020, the pre-filled check box first appeared on Mr. Trumps online donation form.
Total online refunds in 2020, in millions
$122
Total online refunds in 2020, in millions
$122
Total online refunds in 2020,
in millions
Biden
Note: Donations and refunds to former President Donald J. Trump include those made via WinRed for the following organizations: Donald J. Trump for President, Inc., Trump Victory, Trump Make America Great Again Committee, Save America, and the Republican National Committee. Donations and refunds to President Biden include those made via ActBlue for the following groups: Biden for President, Biden Victory Fund, Biden Action Fund, Biden Fight Fund, and the Democratic National Committee.
Several bank representatives who fielded fraud claims directly from consumers estimated that WinRed cases, at their peak, represented as much as 1 to 3 percent of their workload. An executive for one of the nations larger credit-card issuers confirmed that WinRed at its height accounted for a similar percentage of its formal disputes.
That still amounts to about 200,000 disputed transactions that Mr. Miller said added up to $19.7 million.
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Trump Has Donated His Presidential Salary
Trump is not the first president to donate his salary. Former Presidents John F. Kennedy and Herbert Hoover, both wealthy before they took office, donated all their earnings. Forbes reports Trumps net worth as of July 9 at $2.1 billion, making him the first president to be a billionaire.
When Trump announced his decision to forgo a salary, critics expressed doubt because presidents are required to be compensated for their work. To get around this, Trump takes $1 each year from his paychecks.
According to news coverage and White House news releases, Trump has written checks equal to a quarter of his $400,000 annual salary every quarter to various government agencies:
2017
Trump and his constituents have not yet announced where he will donate his salary for the first and second quarters of 2020.
The president came under scrutiny for donating $100,000 to the Department of Health and Human Services after proposing a 10% budget cut totaling billions of dollars. Hes also proposed cuts totaling amounts larger than his donations for the National Parks Service and the Department of Education.
More:Fact check: US government did not engineer COVID-19
What Can You Learn From Donald Trumps Methods Of Making Money In Real Estate
Widen your selection pool
This works by simply laying out your options on the table. Yes, you might find one real estate venture that will be making money in real estate. However, if you have multiple options to choose from, you can select the one with the most rewarding longevity. Donald Trump took real estate as a full-time job, pursued the many investing options and came out seven steps ahead by diversifying his investment portfolio. In the long run, this translated into owning many real estate properties, ranging from multi-family homes, housing developments and even golf courses. If you wish to learn more about diversifying your own investment portfolio, read this blog post: Diversified Investments in Real Estate A Basic Guide.
See the potential in things, not their current state
As a real estate investor, Donald Trump has a vivid imagination. He sees the potential of things. If you look at a bottle of water, youâll automatically think of drinking it. But not Donald Trump. He looks at it and thinks how he can slap his name on it.
Another common practice that can be easily observed with Donaldâs business attitude is investing in land and anything that needs improvement. With land, Donald can let his imagination run wild. Again, he revisits his investmentâs selection pool and chooses a highly profitable venture to go into.
Stay focused on your goals
Save money
Related: How to Save Money and Invest in Real Estate Properties.
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