![]() ![]() And yet, he didn't pay the taxes that he owed, or he didn't pay nearly the amount of taxes that he owed. GROSS: So one of the paradoxes here is that Fred Trump built his fortune in part on taking advantage of cheap federal loans, especially after World War II, when GIs returning from the war really needed housing. We're talking about buildings with hundreds of units. So we're not talking two-, three-unit buildings. SUSANNE CRAIG: They're just monster complexes.īARSTOW. His biggest apartment complexes are these - just these enormous mini cities - you know, 2,500 units or so. And so at his peak, this is a guy who presided over a real estate empire of, you know, many, many, many thousands of units all across Brooklyn and Queens and Staten Island, to a certain degree. ![]() And he would become one of the nation's biggest recipients of cheap federal loans to build middle-class housing. He was described as the Henry Ford of building in Brooklyn and Queens.Īnd at his - and so he had enormous skill at building middle-class housing, and he also specialized in tapping into this wave of federal housing subsidies that began to build in the '30s and the '40s and especially with the return of the GIs from World War II. His homes, which he built, and his apartment buildings, which he built in almost entirely in Brooklyn and Queens, were kind of these no-frills homes that he was able to build very quickly using a lot of the techniques of mass production. And what he specialized in was building middle-class housing. And by the time he was in his mid-40s, he was really one of the biggest developers, actually, in that country. By the time he was in his mid-30s, he was building hundreds of homes a year. ![]() He was a guy who had built and sold his first home before he reached the age of 20. Give us a sense of Fred Trump, Donald Trump's father's, real estate empire when it was at its peak.ĭAVID BARSTOW: Fred Trump was a remarkable builder in New York's history. Susanne Craig, David Barstow, congratulations on this extraordinary piece of reporting, and welcome to FRESH AIR. But neither the president nor his lawyers disputed any of the specifics in the Times' financial reporting. The facts upon which the Times bases its false allegations are extremely inaccurate," unquote. In response to their reporting, a lawyer for President Trump provided a written statement saying, quote, "there was no fraud or tax evasion by anyone. David Barstow has won three Pulitzer Prizes. Susanne Craig writes about the intersection of politics, money and government for the Times. Susanne Craig and David Barstow are two of the reporters at The New York Times who wrote a long investigative article about the many tax maneuvers Fred Trump devised to pass his vast fortune onto his children. Much of this money was transferred from father to son with the help of schemes designed to avoid paying taxes, some of which, according to my guests, were outright fraud. Over the years, Donald received today's equivalent of $413 million from his father's businesses. Fred Trump made Donald Trump a millionaire by the time Donald was 8. The documents reveal that by age 3, Trump was earning $200,000 a year as measured in today's dollars from his father Fred Trump's real estate empire. It's based on a trove of more than a hundred thousand pages of documents, including confidential tax returns and financial records given to the Times by a secret source. But recent New York Times reporting reveals a different narrative. Donald Trump's book "The Art Of The Deal," his TV show "The Apprentice" and his successful presidential campaign were based on his image as a brilliant deal-maker and self-made billionaire. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |