Trump’s Family Rigged The Tax System To Benefit Themselves

An AP investigation reveals Ivanka Trump and Jared Kushner stand to benefit substantially from massive tax breaks they pushed for in the Trump tax law. While Trump, his family, and big corporations profit from the Trump tax law, most Americans have not benefited and many workers have lost their jobs.


Ivanka and Jared stand to benefit from a tax break they pushed in the Trump tax law, which offers massive tax breaks to real estate developers.


Associated Press: “An Associated Press investigation finds President Donald Trump’s daughter and son-in law stand to benefit from a program they pushed that offers massive tax breaks to developers who invest in downtrodden American areas.”


Ivanka was the main proponent in the White House for including the Investing in Opportunity Act as part of the Trump tax law.


Associated Press: “Political sponsors and lobbyists told the AP that Ivanka Trump played an important role in promoting the legislation, while Kushner was also quietly supportive behind the scenes. ‘Ivanka was on board with it,’ said Sean Smith, Scott’s communications director. After their first conversation, Smith said Scott and Ivanka Trump talked by phone and in person nearly a dozen times. He added that Scott also spoke to Kushner about the program, but noted, ‘It was much more Ivanka than Jared.’”


Kushner’s family business bought $13 million in additional properties after they were designated part of an “opportunity zone” by Trump’s tax law.


Bloomberg: “But since the area received the designation in April, Kushner Cos., owned by the family of Trump’s son-in-law, Jared Kushner, has spent more than $13 million buying additional properties in the zone, putting the company in position to take advantage of the tax breaks on future projects in the expanding beachfront complex.”


Trump and his family already benefit substantially from massive tax cuts given to the richest Americans.


Business Insider: “It’s noteworthy that even just from the changes to the tax brackets and the eliminations of deductions, very wealthy households, including President Donald Trump, stand to benefit handsomely from the plan.”


The Trump tax law included a last-minute perk that would provide massive windfalls to Trump.


Bloomberg: “Trump, Real Estate Investors Get Last-Minute Perk in Tax Bill”


International Business Times: “Donald Trump And GOP Leaders Could Be Enriched By Last Minute Tax Break Inserted Into Final Bill”


Trump and his family benefited from tax breaks given to “pass-through” entities like the Trump Organization.


Associated Press: “At least temporarily, companies with profits that double as the owner’s personal income would enjoy a substantial tax break. Consider the Trump Organization.”

The Daily Beast: “The Trump Organization wins, big league. […] The final tax bill, however, slashes this liability, allowing most pass-through businesses—like the Trump Organization—to deduct 20 percent of their income tax-free, effectively cutting the president’s tax rate in half.”