On a good day, the very best Donald Trump can hope for lately is no news. After all, as the President himself will tell you, coverage of him is almost entirely negative — although he misspells his source and conveniently leaves out the fact that Media Research Center, founded by conservative columnist Brent Bozell, bills itself as a watchdog against “the propaganda arm of the Left: the national news media”:
Despite so many positive events and victories, Media Reseach Center reports that 92% of stories on Donald Trump are negative on ABC, CBS and ABC. It is FAKE NEWS! Don’t worry, the Failing New York Times didn’t even put the Brett Kavanaugh victory on the Front Page yesterday-A17!
— Donald J. Trump (@realDonaldTrump) October 10, 2018
So no news is good news for Donald Trump, according to Bozell’s group, and we agree, but for different reasons.
Apparently, they’ve neglected to consider the fact that coverage is so negative because the President does so many terrible things. We certainly agree that there is coverage of the President — pardon the colloquialism — sucking at his job. And we agree that there’s coverage of him doing dirty, underhanded things using the power of his office. We definitely agree that there’s strong evidence he conspired with a hostile foreign power to obtain his position.
We just don’t agree that it’s fake news.
So what’s today’s “negative” coverage of Donald Trump? We here at DC Tribune haven’t seen it get a whole lot of press yet, but we reckon it will: Watchdog group Citizens for Responsibility and Ethics in Washington, or CREW, has discovered a massive loophole in the GOP’s tax legislation that will likely benefit the President a lot more than anyone previously understood.
According to an article posted on the CREW website today, the loophole in question is very similar to one we’ve all already heard about: The S-Corporation “pass-through” exemption, which allows owners of businesses designated a certain way in their articles of incorporation to “pass-through” their corporate income to their personal tax returns, and subsequently pay taxes only on a percentage of that income — rather than paying taxes on all of it at the corporate rate.
That’s already a huge giveaway to the mega-rich.
What CREW discovered is that there is a similar exemption for income from companies designated as “pass-throughs” incorporated in foreign countries — only this one allows the holder of the corporation to defer their tax bill into infinity. Foreign income from, for example, Trump Turnberry Luxury Collection Resort in Scotland would never be taxed until that S-Corporation dissolves, or the holder transfers the shares, or possibly never, ever, since the Republicans buried this tidbit on page 350 of a 400-plus page bill that zero Congress members voting on it actually read in its entirety.
Could this be why Mitch McConnell and Donald Trump have already sounded the alarm about “harassing” the President with investigations if the Democrats win back control of Congress?
If you won a bet on that, it wouldn’t make you as much money as this loophole makes Donald Trump.
Featured image via screen capture
