I just want to review the conviction that arose out of Trump enterprises. Apparently the officers of the corporation were using corporate funds to pay for things like vehicles and private schools for their kids and they wrote those things off as corporate expenses rather than income to themselves. In effect it reduced what was claimed as income for them so they paid less in taxes. It reduced their individual tax liabilities but did not in any way ensure to the benefit of Trump personally. The CEO who was letting these execs do that was the one convicted. I don't see how the misbehavior of some of his employees in any way is an indication of how he handled his own affairs. Is Biden a cross-dressing thief because one of his administration high ups stole luggage?
That's an extraordinary description of blatant tax fraud and falsifying business records and yes it did in fact benefit his business directly and as a result, him personally. The Trump CFO was the beneficiary of the fraud but also as principal financial officer he certified the accuracy and truthfulness of the bogus financial statements, tax returns, bank loan applications etc, often the CEO gets dragged into the certification fraudulent claim as well. Having been in that position myself (the certify part, not the defendant part), it seemed miraculous to me at the time as to how Trump himself skated on that charge. The benefit was not only to the recipients who dodged a fortune in taxes but it also understated compensation expense and among other things, materially reduced payroll taxes (think social security, medicare, unemployment, etc) the company incurred thereby increasing his cash flow. It's age-old crookedness, been fraud forever and the guy just got caught being crooked. The notion that Trump was unaware of his CFO's creative and lucrative compensation arrangement and false financial statements is absurd on its face If I had been able to certify false financial statements and other nefarious and illegal yet lucrative schemes back in my day, I'd have a big f'n jet too....I can't speak for everybody, but truth matters and character counts with me
I'm not sure that the benefit you mentioned actually occurred. These were supposedly executives. Even with some perks that were not legitimate, they still most likely had incomes over the social security maximum. If that's true, it wouldn't have had an impact on how much SS and Medicare was paid. I'm not sure that unemployment insurance is tied into employee compensation so I can't address that. If they had anything on Trump you just know they would have charged it. It was after all a Manhattan jury and the prosecutor was Alvin Bragg.
That is correct about SS but Medicare has no cap and there is actually an increase in tax payable after compensation reaches $200K or so.....fraud is fraud. He's also gonna have his hands full ducking NY state charges along similar lines but more specifically relating to using fraudulent real estate valuations to seek more favorable credit terms and lower tax burdens, but that's another matter. I hate to imagine a world where businesses and individuals are not held to account for the accuracy of their financial statements, credit applications, tax returns, etc. The cost to the banking system, real estate markets, federal finance, risk to the capital markets including both debt and equity would be a millstone around the neck of our economy so severe as to jeopardize the essence of its very function. We minimize the importance of honor, integrity and accountability to our system at great peril in my view
Dems flipped the Wisconsin Supreme Court tonight. The ongoing fratricide in the Republican Party and the overturning of Roe energized the D base and caused some Republicans to sit on their hands. Michigan has turned into a totally blue state and my sense is Wisconsin is heading down the same path.
I have no firsthand knowledge of the facts of this case. It is the apparent unequal application of the law, the clear political motivation and manipulation that rankles the casual observer like myself. I have no love lost for Trump. I feel he is being persecuted based on his political leanings yet, on the other hand he is campaigning on his own prosecution. He is nothing if not an opportunist.
Given the likely timetable for the Trump criminal fraud trial - next scheduled in-person hearing scheduled for Dec 4 - likely to have the in court proceedings running smack alongside the election primary season, sets the stage for some compelling election year drama. Noteworthy that the judge admonished both sides to "Please refrain from making comments or engaging in conduct that has the potential to incite violence, create civil unrest, or jeopardize the safety or well-being of any individuals. Also, please do not engage in words or conduct which jeopardizes the rule of law, particularly as it applies to these proceedings in this courtroom." Then specifically directed at Trump, "If you become disruptive to such a degree that it affects my ability to preside over this case and my ability to insure that the case is treated the way it needs to be treated for both sides, I do have the authority to remove you from the courtroom" Seems he has laid the ground rules for acceptable rhetoric and Trump at his first opportunity decided to take shots at the "Trump hating judge, with a Trump hating wife and family". "We recently had another trial and the same judge,"......"What the prosecutors and judge did to that man, I will never forget because it’s right out of the old Soviet Union" No doubt on of the great legal challenges on display here will be the ability for the defense to keep their client away from contempt charges. Any guesses as to the timing of the first warning from the bench, actually second since he gave the first at the arraignment, regarding contempt? We have two betting options thus far.....1) date of first contempt warning, 2) Directed at prosecution or defense?
Personally, this is nothing more than the pattern we've seen in the past decade. Prior to the 2016 election we had the FBI illegally electronically surveilling individuals connected with the Trump election committee. This was done by securing perjured FISA warrants. (When Trump claimed he was being tapped the media ridiculed him) Then we went through the 2 yrs. of "investigation" of the bogus Russian Collusion claim. They of course was a big influence on the 2018 midterms in which the Congress was flipped. Moving on to the 2020 elections we had the FBI going to the various social media outlets strongly suggesting that the Hunter Biden laptop story was "Russian disinformation." (They probably didn't even have to tell the "mainstream" media that, they suppressed the story eagerly.) What has to be remembered is that the FBI had had that laptop for a year and KNEW it wasn't part of any Russian disinformation. Fast forward to 2023 and it's time to come up with new manufactured claims to influence the 2024 elections. Enter Alvin Bragg and his dusted off often rejected claims against Trump. I just wish that the people of this country who are so concerned about the accuracy of financial statements, cared at all about the integrity of our legal systems and those in law enforcement and the integrity of our elections.
I agree 100%. It's troubling that there are people who preach law and order yet care so little about integrity and accountability. While I can't speak for everybody, I'm for lockin' 'em all up! It's easier if we all follow the law, it tends to cleanse the system and allow for much more efficient operations.
Some good news for Florida real estate, Chicago just elected another leftist mayor. Supported by the teachers union whose members have produced schools that are seriously failing Brandon Johnson now rules the city. The Miracle Mile, Chicago's famous shopping district now has a 30% vacancy rate, caused mostly from crime and a poor business climate. Johnson's solution is higher taxes and less police funding. Grab you sun block and head on down Cub fans.
Big Business Head Tax will generate more than $20 million Chicago Jet Fuel Tax will raise $98 million Chicago Mansion Tax will raise $100 million Big Banks Securities and Speculation Tax raising $100 million for Chicago. Chicago Hotel Accommodations Tax generating $30 million Let's review.....goodbye employers, goodbye airlines, goodbye affluent consumers/entrepreneurs, goodbye Merc and CBOE, goodbye tourists. Did I miss anybody? Last one out, turn off the lights.....
It always seemed that Detroit wanted to be more like Chicago. Now Chicago is heading to be more like Detroit and Chapter 9.
The Miracle Mile won’t seem as glamorous with Burberry, Neiman Marcus and Guicci being replaced by wig stores and vape shops.
Perhaps they transition the The Wrigley Building and Trib Tower for homeless shelters, soup kitchens and clean needle exchanges and attract some customers for them
According to exit polls, the no.1 concern of voters in Chicago was crime. I am confused, based on the election results, if that concern was there was not enough crime in the city as I am sure there are now a lot of Chicago cops updating their resumes or taking an early retirement.
I saw on another board that the Pubs now have a super majority in the Wisc Leg and one of the newly elected State Senators says he's considering impeaching the newly elected Wisc Supreme Court Justice. Why do I think that is a bad idea.
From what I read Johnson's idea to fight crime was to get to the "root cause" of crime. (Where have I heard "root cause" before?) So his plan is to tax everything and body that has something and use it to end poverty and support treatment of mental illness. We all know that parts of Chicago have poverty and from the outcome of the election we know that they have plenty of folks with mental illness.
They have a super majority in the Senate but not the Assembly. But, like in federal government, impeachment can occur on a majority vote in the Assembly and 2/3rds in the Senate. If the SC starts totally dismantling Republican legislation re voter ID, and public sector collective bargaining reform and try to redraw legislative districts to skew Democratic, the only arrow in the Republican quiver would be impeachment although the D gov could simply replace anyone impeached with another D. Right now, the legislative districts are gerrymandered to favor R, so the smart move by the Democrats would be to simply try and push through a redistributing plan that levels the playing field as opposed to skew it blue since, as things stand now, the D would win on a level playing field. If they get too aggressive, they risk a constitutional meltdown. But, they can accomplish their goals like they did in Michigan by simply enacting a neutral redistricting plan for if they do that all the other dominoes will fall in place.
Looks like more than a few of the affluent lakefront districts voted for Johnson. The voting habits of well off progressives kind of reminds me of Lenin’s joke about how capitalists will sell you the rope that you will hang them with— although now the rope is simply given away.