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4 Ways Fred Trump Made Donald Trump and His Siblings Rich

4 Ways Fred Trump Made Donald Trump and His Siblings Rich
In Donald J. Trump’s version of how he got rich, he was the master dealmaker who parlayed an initial $1 million loan from his father into a $10 billion empire. It was his guts and gumption that overcame setbacks, and his father, Fred C. Trump, was simply a cheerleader. But an investigation by The New York Times shows that by age 3, Donald Trump was earning $200,000 a year in today’s dollars from his father’s empire. He was a millionaire by age 8. In all, financial records reveal, Mr. Here are four ways that Fred Trump made his children rich. Fred Trump made his son not just his salaried employee but also his property manager, landlord, consultant and banker. Fred Trump provided money for Donald Trump’s car, money for his employees, money to buy stocks, money for his first Manhattan offices and money to renovate those offices. The biggest payday Donald Trump ever got from his father came long after Fred Trump’s death.

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What billionaires want: the secret influence of America’s 100 richest If we judge US billionaires by their most prominent fellows, they may seem to be a rather attractive bunch: ideologically diverse (perhaps even tending center-left), frank in speaking out about their political views, and generous in philanthropic giving for the common good – not to mention useful for the goods and jobs they have helped produce. The very top titans – Warren Buffett, Jeff Bezos, Bill Gates – have all taken left-of-center stands on various issues, and Buffett and Gates are paragons of philanthropy. The former New York mayor Michael Bloomberg is known for his advocacy of gun control, gay rights, and environmental protection. George Soros (protector of human rights around the world) and Tom Steyer (focused on young people and environmental issues) have been major donors to the Democrats.

A wild baby trust fund plan would give US kids up to $60,000 at birth Education is often considered the great equalizer, the tonic that will erase all injustice and inequality. As Nelson Mandela once said, "Education is the most powerful weapon which you can use to change the world." But an economist is calling for a fact-check on the old advice to stay in school and study hard. How much dark money is fueling the Kavanaugh confirmation fight? Sen. Jon Tester, D-Mont., waded into Brett Kavanaugh’s Supreme Court nomination and the millions of dollars that has been spent both for and against the would-be justice. "Dark money is paying for over 80 percent of (Kavanaugh’s) ads," Tester said in Sept. 29 debate. Tester has said he would vote against Kavanaugh’s confirmation.

Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, an investigation by The New York Times has found. Mr. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. 1% Won't Owe Social Security Tax After 2019 click 2x Without question, Social Security is this country's most important social program. It can rightly be called a financial rock for millions of elderly Americans, with the benefits provided accounting for more than half of all monthly income for 62% of retired workers and the program single-handedly keeping 15.3 million of those aged beneficiaries above the federal poverty line. But it's also a heavily criticized program for the way it collects revenue. Image source: Getty Images. Social Security's primary sources of funding, explained

As a black nurse, I see the crushing racial inequality across the NHS. This has to stop Some years ago a fellow black nurse said to me that I had been described by a nursing leader as “the only acceptable black nurse”. I’d like to say we’ve come a long way since then, but the enormous ethnic pay gap in the NHS shows there’s a long road yet to travel. As revealed last week, black doctors and nurses are on average paid thousands of pounds less than their white colleagues. There are still those who divide our workforce between “acceptable” and “unacceptable”. I’ve spent a lifetime on the NHS frontline, and overcame these barriers and prejudices to reach the top of my profession. Was There a Connection Between a Russian Bank and the Trump Campaign? In June, 2016, after news broke that the Democratic National Committee had been hacked, a group of prominent computer scientists went on alert. Reports said that the infiltrators were probably Russian, which suggested to most members of the group that one of the country’s intelligence agencies had been involved. They speculated that if the Russians were hacking the Democrats they must be hacking the Republicans, too. “We thought there was no way in the world the Russians would just attack the Democrats,” one of the computer scientists, who asked to be identified only as Max, told me. The group was small—a handful of scientists, scattered across the country—and politically diverse. (Max described himself as “a John McCain Republican.”)

11 Takeaways From The Times’s Investigation Into Trump’s Wealth Tax records also reveal that at the peak of Mr. Trump’s financial distress, in 1990, his father extracted an extraordinary sum — nearly $50 million — from his empire. While The Times could find no evidence that Fred Trump made any significant debt payments, charitable donations or personal expenditures, there are indications that he wanted plenty of cash on hand to bail out his son if need be. How US billionaires are fuelling the hard-right cause in Britain Dark money is among the greatest current threats to democracy. It means money spent below the public radar, that seeks to change political outcomes. It enables very rich people and corporations to influence politics without showing their hands. Among the world’s biggest political spenders are Charles and David Koch, co-owners of Koch Industries, a vast private conglomerate of oil pipelines and refineries, chemicals, timber and paper companies, commodity trading firms and cattle ranches.

Privatisation Harms Poor and Needy, Says UN Poverty Expert Widespread privatisation of public goods in many societies is systematically eliminating human rights protections and further marginalising those living in poverty, according to a hard-hitting new report. The report was transmitted to the UN General Assembly on 19 October. Philip Alston, the UN Special Rapporteur on extreme poverty and human rights, criticised the extent to which the World Bank, the International Monetary Fund, and even the UN itself have aggressively promoted widespread privatisation of basic services, without regard to the human rights implications or the consequences for the poor. He also criticised human rights groups for not responding strongly enough to the resulting challenges. “Privatising the provision of criminal justice, social protection, prisons, education, basic healthcare and other essential public goods cannot be done at the expense of throwing rights protections out of the window,” Alston said. Privatisation is for Profit not Equity

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The trouble with charitable billionaires In February 2017, Facebook’s founder and CEO Mark Zuckerberg was in the headlines for his charitable activities. The Chan Zuckerberg Initiative, founded by the tech billionaire and his wife, Priscilla Chan, handed out over $3m in grants to aid the housing crisis in the Silicon Valley area. David Plouffe, the Initiative’s president of policy and advocacy, stated that the grants were intended to “support those working to help families in immediate crisis while supporting research into new ideas to find a long-term solution – a two-step strategy that will guide much of our policy and advocacy work moving forward”. This is but one small part of Zuckerberg’s charity empire.