Income Tax Evasion a Serious Crime: Research Al Capone or Now Check on Donald J. Trump

 

Trump & Capone: Birds, Feather, Flock Together

(That sure comes to mind) 

Trump tax woes — new fresh headline news.

This Market Watch story and Washington Post story similar headlines:

“Manhattan prosecutor obtains copies of Trump tax records after long fight”

Manhattan DA Cyrus R. Vance Jr. issued a subpoena to Mazars, USA not only for the final versions of Trump’s tax returns, but also for draft versions of those returns and “any and all statements of financial condition, annual statements, periodic financial reports, and independent auditors’ reports” held by them. 

Mazars did not object to the subpoena and, in a statement at the time, said it would “respect the legal process and fully comply with its legal obligations.”

Recall this from the New York Times that separately obtained years of Trump’s tax data and published stories last year detailing some of his finances that included showing he only paid $750 in federal income tax in 2016 and 2017, and paid no income tax in 10 of the previous years, citing major losses.

Recall during the 2016 campaign how Trump bragged about being so rich that he didn’t need any outside money to run and all that hogwash? So, here we are now today. This from Trump:

Con Man Strikes & Many Voters Believed Him

It seems to me that Trump is about to pull an Al Capone and may very well end up like Capone with the same 11 years in prison for “tax evasion” that Capone got. That case background follows:

By 1927, Capone's gang was killing all across Chicago, but nothing ever ended up being connected to him personally. The Feds (the brand new FBI) couldn't make anything stick, even evidence showing that Capone led a very lavish lifestyle, even though he had no income - thus paid next to nothing in Federal income taxes.  

How did Capone manage to do that? Simple: He ordered his lawyer to regularize his tax position. The result was massive audits and this:

1.    On March 13, 1931, Capone was charged with income tax evasion for 1924, in a secret grand jury.

2.    On June 5, 1931, Capone was indicted by a federal grand jury on 22 counts of income tax evasion from 1925 through 1929 and released on $50,000 bail.

3.    On June 16, 1931, Capone pled guilty to tax evasion and prohibition charges.

4.    On October 18, 1931, Capone was convicted after trial.

5.    On November 24, 1931, he was sentenced to eleven years in federal prison. He was also fined $50,000 and charged $7,692 for court costs, in addition to $215,000 plus interest due on back taxes.

FYI: Al Capone was dubbed “the father of American gangsterdom” by the chief of the IRS at the time.

Capone’s empire was eventually making him some $60 million per year. It might sound like a low amount for someone so famous, but that was nearly $1 billion in today’s dollars.

That was only in the 1920s alone, and his earnings eventually topped $1.6 billion in today’s dollars. 

My 2 cents: So, is Trump following that same Al Capone case pattern? It sure seems like it, but time will tell.

I suspect that is why he stalled for so long and then wanted to stay in the White House – the heat was on as they say. 

Now he wants to win in 2024 and feel safe again in the White House, all the while stalling as much as possible. I don’t think he will succeed in that regard – at least I hope not for the country’s sake. 

Stay tuned.

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