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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOne 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?The Internal Revenue Service is demanding a whopping $7 billion or more in back taxes from the worlds most profitable hedge fund, whose bosss wealth and cyber savvy helped Donald Trump pole-vault into the White House.
Suddenly, the governments seven-year pursuit of Renaissance Technologies LLC is blanketed in political intrigue, now that the hedge funds 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 thats 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 years elections, while advocating the abolition of the IRS and much of the federal government.
http://www.mcclatchydc.com/news/politics-government/article147454324.html
emulatorloo
(44,276 posts)bagelsforbreakfast
(1,427 posts)LenaBaby61
(6,979 posts)He's a continually grifting, rotten-ass, billionaire, so he'll be able to pay it back.
lame54
(35,359 posts)spanone
(135,951 posts)jmowreader
(50,603 posts)How the fuck do you owe seven billion dollars in back taxes without going to prison?
AJT
(5,240 posts)whathehell
(29,112 posts)lindysalsagal
(20,802 posts)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.
roamer65
(36,748 posts)Marie Marie
(9,999 posts)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.
roamer65
(36,748 posts)Kaleva
(36,406 posts)Lucky Luciano
(11,267 posts)I think they were doing stuff technically legal with clever loopholes.
Kaleva
(36,406 posts)Lucky Luciano
(11,267 posts)But not his personal tax bill, but he and many others benefited.
Kaleva
(36,406 posts)The title of the OP makes it look that way.
Lucky Luciano
(11,267 posts)Kaleva
(36,406 posts)GoCubsGo
(32,103 posts)Take out a traitor, and maybe collect on those takes he and his hedge fund have been evading. It would be a win-win.
maddiemom
(5,106 posts)is really backfiring on more and more big time "deplorables." Loving it!
SCantiGOP
(13,879 posts)To slip into the big, beautiful tax cut plan to take care of this.
Gothmog
(146,009 posts)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)I heard about that a couple of hours ago and the magnitude still hasnt 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 couldnt have them connected to the crime of the century.
diva77
(7,686 posts)ProfessorGAC
(65,458 posts)...is likely a sign Mercer is in it deep & in deep trouble!
JDC
(10,152 posts)TexasBushwhacker
(20,256 posts)JDC
(10,152 posts)Dickens comes in handy once again.
vkkv
(3,384 posts)I'm talkin' RUPTURE - not Rapture.
GO IRS !!!
IRS!
IRS!
IRS!
IRS!
IRS!
IRS!
IRS!
Wounded Bear
(58,797 posts)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)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.
rurallib
(62,491 posts)Bernardo de La Paz
(49,088 posts)Bernardo de La Paz
(49,088 posts)FakeNoose
(32,917 posts)Robert Mercer - pay your fucking taxes, then leave this country for good!
Pay up and get out.
Orrex
(63,295 posts)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)Supposedly his hedge fund is worth $50 Billion. But what if it isn't?
Orrex
(63,295 posts)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.
eleny
(46,166 posts)red dog 1
(27,939 posts)How much longer will we have to out up with this Trump Crime Family bullshit?
K&R, thanks for posting, CousinIT
mountain grammy
(26,676 posts)so $22 million to sway elections.. a good investment.
Faux pas
(14,716 posts)Surprised???
Nevernose
(13,081 posts)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 hacks latest book or what Clinton and/or Sanders SHOULD have said or done a year and a half ago.
packman
(16,296 posts)Someone at the IRS needs fired - Shit, that could probably buy a lot of Trump's golf trips
BigmanPigman
(51,674 posts)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.
zentrum
(9,866 posts)...a mere bagatelle to them. The Mercers and Kochs and a few others are crazy rich.
IronLionZion
(45,673 posts)because so many of these assholes find clever ways to avoid paying their fair share
PatSeg
(47,774 posts)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)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)The fact that the wingnut has a monopoly on broadcasting and press has been normalized
PatrickforO
(14,608 posts)He is a traitor.