Tax Free Kushner, Saudi Consequences
Sunday, October 14, 2018
Vol. 7, No. 281
The Rich are Different: Just a week after reporting that President Trump is not the self-made millionaire he claims to be, The New York Times has a story that Trump’s wealthy son-in-law Jared Kushner paid little or no federal income tax from 2009 to 2016.
Kushner is worth an estimated $324 million and earned $1.7 million in 2015, but reported $8.3 million in losses and real estate depreciation for that year, the Times says. The real estate depreciation is legal, based on an old theory that buildings drop in value over time, but in reality they increase, especially in New York.
The Timessays it bases its story on financial documents obtained from someone who has done business with the Kushners. Jared is one of his father-in-law’s closest advisers.
The paper’s story about the President claims that he and his family committed outright fraud to dodge inheritance taxes on his father’s estate.
Documents detailing Kushner’s finances show that from 2011 to 2016 while Kushner’s net worth grew from $106 million to $324 million, he paid zero taxes in all but one year. The spread sheet says he paid $1,120,000 in taxes in 2013.
Truth and Consequences: The Saudi Arabian stock market dropped 6 percent today on the news of president Trump’s threat over the disappearance of dissident journalist Jamal Khashoggi.
In response to reports that Khashoggi was murdered inside the Saudi consulate in Istanbul, Trump said in an interview to air on “60 Minutes” tonight, “There’s something really terrible and disgusting about that, if that was the case, so we’re going to have to see,” Trump said. “We’re going to get to the bottom of it and there will be severe punishment.”
What that punishment might be is unknown. The US has a multi-billion dollar arms deal with Saudi Arabia and Trump has already said he’s reluctant to mess with that.
The disappearance of Khashoggi reveals the true nature of Saudi Arabia’s ruler, Mohammed bin Salman, who has portrayed himself as a reformer.Khashoggi’s fiancée, Hatice Cengiz, writes in the NY Times, “Jamal was a patriot. When people referred to him as a dissident, he would reject that definition. ‘I am an independent journalist using his pen for the good of his country,’ he would say. He left Saudi Arabia because it was the only way he could write and speak about issues and ideas that he cared about, and to work without compromising his dignity.”
Separation Anxiety: President Trump confirmed to reporters yesterday that his administration is considering a new policy to separate families crossing the US-Mexico border illegally. “If they feel there will be separation, they won’t come,” Trump said.
Thousands of children are still being held separate from their families after the administration’s earlier separation policy.
Prayer Meeting: In an appearance before the press with President Trump in the Oval Office, the freed American pastor Andrew Brunson dropped to a knee, put a hand on Trump’s shoulder, and asked God to provide the president “supernatural wisdom to accomplish all the plans you have for this country and for Him.” It will be a test of whether God listens to prayer.
The Trump administration managed to pry Brunson from two years of custody in Turkey after he was accused of being a spy.
Trump bragged that Brunson’s release was the result of hard-nosed negotiating. “We do not pay ransom in this country,” he said and suggested without evidence that previous administrations have paid.
Hold the Vote: In Georgia, Republican Secretary of State Brian Kemp, who is running for governor, has put the voting rights of 53,000 people on hold because their registrations do not meet strict new requirements. Seventy percent of those people are black, as is the Democratic opponent, Stacey Abrams.
A coalition of voter advocacy groups is suing to reverse Kemp’s action.
Under recent Georgia law, a voter’s registration can be questioned if it does not match driver’s license or Social security information. The stated intent is to stop voter fraud, which almost never happens, but the result is that it disproportionately eliminates black voters. Kemp says they can vote on election day if they present proper ID.
The Obit Page: Jim Taylor, the brute of a fullback who scored the first rushing touchdown in the Super Bowl and won four NFL titles with the Green Bay Packers has died at age 83 in Baton Rouge.
Taylor ran for 1,000 yards or more during five consecutive seasons. In 1962 he even outran the great Cleveland running back Jimmy Brown, leading the league with 1,474 yards. When he wasn’t crushing tacklers, Taylor was also known for being the bruising blocker who often cleared the way for fellow Hall of Famer Paul Hornung.
Cold Open: Alex Baldwin returned to “Saturday Night Live” as President Trump last night in a cold open mocking Kanye West’s appearance at the White House.
The West character pontificates in front of Trump and reporters that, “The murder rate is going down, 20 percent every years. And pretty soon it’s going to be a negative murder rate. We’re going to be digging bodies out of the ground”
Baldwin’s Trump character can be heard thinking, “This guy can talk. He doesn’t stop. He doesn’t listen to anyone but himself. Who does he remind me of? Oh my God, he’s black me.”
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