This is how President Spanky got rich, as a kind woman explained it to me.
Fred Trump, Spanky’s father, was enormously rich; his problem was how to pass hundreds of millions of dollars to each of his children without paying inheritance taxes, allegedly.
All the figures below I just made up to illustrate the trickery.
The family invented a shell company, which I will call SHELL. The job of SHELL was to purchase the items Fred Trump needed to run his real estate empire. Fred was a builder, so maybe he needed 100 stoves for 100 apartments. SHELL would buy the 100 stoves at $1,000 each. Then SHELL would sell them to Fred Trump for $100,000 each. The profit to SHELL was $99,000 per stove. This money would be divided among the owners of SHELL, the Trump children (including Donald). The children would then use the cash to buy into various safe investments that to this day feed them millions of dollars each week.
This tax fraud and investment plan was and remains the source of Spanky’s money. It explains how a balmy dope has remained rich while losing money on gambling casinos, which is nearly impossible to do, they tell me.
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