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CousinIT

(9,278 posts)
Sat Nov 4, 2017, 12:57 PM Nov 2017

One of Trump's biggest owners, Robert Mercer, owes $7,000,000,000 in back taxes.

Robert Mercer did Trump a huge favor. Will he get a payback?

WASHINGTON
The Internal Revenue Service is demanding a whopping $7 billion or more in back taxes from the world’s most profitable hedge fund, whose boss’s wealth and cyber savvy helped Donald Trump pole-vault into the White House.

Suddenly, the government’s seven-year pursuit of Renaissance Technologies LLC is blanketed in political intrigue, now that the hedge fund’s reclusive, anti-establishment co-chief executive, Robert Mercer, has morphed into a political force who might be owed a big presidential favor.

With Trump in the Oval Office, Mercer and his daughter Rebekah, who has become his public voice, seem armed with political firepower every which way you look – and that’s even though presidential adviser Stephen Bannon, their former senior executive and political strategist, appears to have recently lost influence.

Since the IRS found in 2010 that a complicated banking method used by Renaissance and about 10 other hedge funds was a tax-avoidance scheme, Mercer has gotten increasingly active in politics. According to data from the Center for Responsive Politics, he doled out more than $22 million to outside conservative groups seeking to influence last year’s elections, while advocating the abolition of the IRS and much of the federal government.


http://www.mcclatchydc.com/news/politics-government/article147454324.html

55 replies = new reply since forum marked as read
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One of Trump's biggest owners, Robert Mercer, owes $7,000,000,000 in back taxes. (Original Post) CousinIT Nov 2017 OP
I'm not surprised. Thanks for posting, Rec for the Greatest Page n/t emulatorloo Nov 2017 #1
Let me be the first to say "Lock him up!" n/m bagelsforbreakfast Nov 2017 #2
Not surprised ... LenaBaby61 Nov 2017 #3
"Hey Moose, Rocco, help the douche find his checkbook" lame54 Nov 2017 #4
caddyshack strikes again!!!! 👍🏼 spanone Nov 2017 #32
Please tell me this jmowreader Nov 2017 #5
Get 45 elected and get rid of the IRS....that is the plan. AJT Nov 2017 #7
That is an excellent question. whathehell Nov 2017 #8
Seize his assetts and put his ass out on the street: No healthcare, seriously! lindysalsagal Nov 2017 #9
No Shit! Ahpook Nov 2017 #34
+1 uponit7771 Nov 2017 #44
Jail him for income tax evasion. roamer65 Nov 2017 #6
It was good enough for Al Capone. Marie Marie Nov 2017 #15
You are a mind reader! roamer65 Nov 2017 #24
Mercer himself doesn't owe that much. Kaleva Nov 2017 #10
Indeed. This has been an ongoing fight with the IRS for a long time. Lucky Luciano Nov 2017 #39
And it involves a hedge fund Mercer runs but doesn't involve Mercer per se. Kaleva Nov 2017 #42
Totally involved Mercer. He is at the top along with peter Brown and Simons. Lucky Luciano Nov 2017 #46
But it isn't Mercer himself who owes the 7 billion Kaleva Nov 2017 #47
Oh you are correct. Title is clickbait. nt Lucky Luciano Nov 2017 #48
It wouldn't get any clicks if title was "Renaissance Technologies LLC in tax dispute with IRS" Kaleva Nov 2017 #49
I hope he's one of Mueller's "mystery indictees." GoCubsGo Nov 2017 #11
Association with Trump... maddiemom Nov 2017 #12
Im sure someone already has an amendment SCantiGOP Nov 2017 #13
Basket options are really bogus Gothmog Nov 2017 #14
He got away with stealing 7 BILLION dollars Nevernose Nov 2017 #16
looks like we have more than just a "Russian" problem on our hands diva77 Nov 2017 #28
The Fact This Now Public... ProfessorGAC Nov 2017 #17
So what is he supposed to be worth? JDC Nov 2017 #18
Town and County says less than a billion TexasBushwhacker Nov 2017 #29
Are there no debtors prisons? JDC Nov 2017 #37
Holy crap! The slimey ooze is starting to leak out of once upon a time backroom stories. vkkv Nov 2017 #19
Trump and Repubs think gov't is a 'get out of jail free' card... Wounded Bear Nov 2017 #20
Pardon time for Mercer! ffr Nov 2017 #21
That explains a lot - WOW rurallib Nov 2017 #22
Make sure there is NO RETROACTIVE aspect to the tax heist legislation. . . . nt Bernardo de La Paz Nov 2017 #23
The Mercers own Breitbart. Robert sold it to his daughters recently. . . nt Bernardo de La Paz Nov 2017 #25
I think Mueller deserves a bonus for this one FakeNoose Nov 2017 #26
Why the fuck is he not in jail? Orrex Nov 2017 #27
Probably because they'd rather have the money TexasBushwhacker Nov 2017 #31
Well, why don't they simply seize the money, plus about 100% penalty for late payment? Orrex Nov 2017 #53
A regular right wing hero eleny Nov 2017 #30
"The Cut Cut Cut Robert Mercer's Tax Act" red dog 1 Nov 2017 #33
$7 BILLION mountain grammy Nov 2017 #35
Who's Faux pas Nov 2017 #36
He stole seven BILLION dollars Nevernose Nov 2017 #38
JEEZ - 7 BILLION packman Nov 2017 #40
I wish it were hundreds of years ago and he would either be BigmanPigman Nov 2017 #41
Even 7B is zentrum Nov 2017 #43
They'll argue this is why the wealthy need tax cuts IronLionZion Nov 2017 #45
This story is from last May, PatSeg Nov 2017 #50
btw, at $1000/hr, 22mil is about one day's worth of talk radio they get for free certainot Nov 2017 #51
+1000 This. Democrats need to emphasize this more when discussing election strategy diva77 Nov 2017 #55
Bring the parasitic scum up on charges of tax evasion. PatrickforO Nov 2017 #52
Is Mercer is holding out on the country he loves so well? oasis Nov 2017 #54

jmowreader

(50,603 posts)
5. Please tell me this
Sat Nov 4, 2017, 01:18 PM
Nov 2017

How the fuck do you owe seven billion dollars in back taxes without going to prison?

Ahpook

(2,751 posts)
34. No Shit!
Sat Nov 4, 2017, 03:54 PM
Nov 2017

And how fucking long did this go on until it was noticed?


Wonder what would happen if I didn't pay my 800 bux a year on property tax? Bet they'd pitch a major bitch right fast.

Marie Marie

(9,999 posts)
15. It was good enough for Al Capone.
Sat Nov 4, 2017, 02:07 PM
Nov 2017

And let's face it, anyone of us poor or average folks that tried to thumb their noses at the IRS for a lot less money.

Lucky Luciano

(11,267 posts)
39. Indeed. This has been an ongoing fight with the IRS for a long time.
Sat Nov 4, 2017, 07:00 PM
Nov 2017

I think they were doing stuff technically legal with clever loopholes.

Lucky Luciano

(11,267 posts)
46. Totally involved Mercer. He is at the top along with peter Brown and Simons.
Sat Nov 4, 2017, 08:47 PM
Nov 2017

But not his personal tax bill, but he and many others benefited.

GoCubsGo

(32,103 posts)
11. I hope he's one of Mueller's "mystery indictees."
Sat Nov 4, 2017, 01:54 PM
Nov 2017

Take out a traitor, and maybe collect on those takes he and his hedge fund have been evading. It would be a win-win.

SCantiGOP

(13,879 posts)
13. Im sure someone already has an amendment
Sat Nov 4, 2017, 02:06 PM
Nov 2017

To slip into the big, beautiful tax cut plan to take care of this.

Gothmog

(146,009 posts)
14. Basket options are really bogus
Sat Nov 4, 2017, 02:07 PM
Nov 2017

A big hunk of this tax is due to use of a fraudulent practice called basket options that make no economic sense

Nevernose

(13,081 posts)
16. He got away with stealing 7 BILLION dollars
Sat Nov 4, 2017, 02:08 PM
Nov 2017

I heard about that a couple of hours ago and the magnitude still hasn’t sunk in. No wonder he helped all these psychos run for office — it literally part of the crime. No wonder he got rid of his Breitbart Etc holdings this week — he couldn’t have them connected to the crime of the century.

 

vkkv

(3,384 posts)
19. Holy crap! The slimey ooze is starting to leak out of once upon a time backroom stories.
Sat Nov 4, 2017, 02:27 PM
Nov 2017

I'm talkin' RUPTURE - not Rapture.

GO IRS !!!

IRS!
IRS!
IRS!
IRS!
IRS!
IRS!
IRS!

Wounded Bear

(58,797 posts)
20. Trump and Repubs think gov't is a 'get out of jail free' card...
Sat Nov 4, 2017, 02:32 PM
Nov 2017

I've always figured that was a major motivation for Trump to run. It makes sense that one of his primary backers also needs a bit of "protection."

ffr

(22,682 posts)
21. Pardon time for Mercer!
Sat Nov 4, 2017, 02:49 PM
Nov 2017

When has the IRS ever been spoke of by the RW as anything other than villain. And so too will the RW propaganda machine churn into high gear to convince the rubes, thus giving authoritarian Dotard the shelter he needs to pardon his friend and co-conspirator criminal donor.

FakeNoose

(32,917 posts)
26. I think Mueller deserves a bonus for this one
Sat Nov 4, 2017, 03:16 PM
Nov 2017

Robert Mercer - pay your fucking taxes, then leave this country for good!
Pay up and get out.



Orrex

(63,295 posts)
27. Why the fuck is he not in jail?
Sat Nov 4, 2017, 03:18 PM
Nov 2017

I owe just under $1000 in back taxes, and I get two phone calls and a letter each month reminding me that I must pay or else face stiff consequences.

But this fucker owes literally SEVEN MILLION times what I owe, and he gets to buy a president?


Pitchfork time, people!

TexasBushwhacker

(20,256 posts)
31. Probably because they'd rather have the money
Sat Nov 4, 2017, 03:36 PM
Nov 2017

Supposedly his hedge fund is worth $50 Billion. But what if it isn't?

Orrex

(63,295 posts)
53. Well, why don't they simply seize the money, plus about 100% penalty for late payment?
Sun Nov 5, 2017, 11:35 AM
Nov 2017

I don't the numbers in front of me, but here's how it went in my case:

I mistakenly thought that my employer was withholding my local taxes. Ultimately, I accept that this is my error, so I offer it not as an excuse but as an explanation. Over time, I missed payments totaling about $1300, and eventually I received a bill for $3200 (taxes plus fees and interest). Had I not entered into a payment agreement within 14 days, this would have been taken directly from my wages (and I believe that they could have gone after my savings directly, as well).

So here's this fucker owing $7B, and we're just talking about it? Fuck him! Give him 14 days to pay the full amount or enter into a payment plan that will satisfy his debt, plus fees etc.

If he can pay, great. If he can't pay it, take it from him.

red dog 1

(27,939 posts)
33. "The Cut Cut Cut Robert Mercer's Tax Act"
Sat Nov 4, 2017, 03:40 PM
Nov 2017

How much longer will we have to out up with this Trump Crime Family bullshit?


K&R, thanks for posting, CousinIT

Nevernose

(13,081 posts)
38. He stole seven BILLION dollars
Sat Nov 4, 2017, 06:27 PM
Nov 2017

No wonder he was such a successful businessman.

Just kicking it to the top, because I think this is what Democrats should be talking about, not some hack’s latest book or what Clinton and/or Sanders SHOULD have said or done a year and a half ago.

 

packman

(16,296 posts)
40. JEEZ - 7 BILLION
Sat Nov 4, 2017, 07:34 PM
Nov 2017

Someone at the IRS needs fired - Shit, that could probably buy a lot of Trump's golf trips

BigmanPigman

(51,674 posts)
41. I wish it were hundreds of years ago and he would either be
Sat Nov 4, 2017, 07:40 PM
Nov 2017

fed to the lions while people ate Roman style popcorn in the Colosseum or poor French women took their knitting with them to watch the guillotine in action. Of course watching the tarring and feathering of someone like this is always a guaranteed souse of entertainment for the average, law abiding taxpayer too.

IronLionZion

(45,673 posts)
45. They'll argue this is why the wealthy need tax cuts
Sat Nov 4, 2017, 08:24 PM
Nov 2017

because so many of these assholes find clever ways to avoid paying their fair share

PatSeg

(47,774 posts)
50. This story is from last May,
Sun Nov 5, 2017, 10:52 AM
Nov 2017

yet I don't recall hearing anything about it. You'd think it would have been a bigger story. In the Trump era, there are so many breaking stories, many get lost in the noise.

 

certainot

(9,090 posts)
51. btw, at $1000/hr, 22mil is about one day's worth of talk radio they get for free
Sun Nov 5, 2017, 11:05 AM
Nov 2017

mercer, kochs, putin, trump get this free because the left ignores it:

at a cheap $1000/hr x 15hrs/day x 5 = $75,000/wk x 1200 stations rw talk radio is worth $18MIL/day or 390MIL$ /month or 4.68 BIL$/ year FREE for coordinated global warming denial, pro republican free market deregulation and wall st think tank propaganda, swiftboating of good citizens, attacks on public education and teachers, passing voter suppression legislation, trying to repeal obamacare, and the hate and fear used to get people to vote republican.

diva77

(7,686 posts)
55. +1000 This. Democrats need to emphasize this more when discussing election strategy
Sun Nov 5, 2017, 04:01 PM
Nov 2017

The fact that the wingnut has a monopoly on broadcasting and press has been normalized

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