Jared Kushner, Donald Trump’s son-in-law and advisor, received a 500 percent increase in the value of a company he owned, directly tied to a policy that Kushner himself pushed in the White House. The Trump family is grifting in plain sight, and for some reason, Republicans aren’t concerned with investigating the president’s son-in-law, his daughter, and his two adult sons over their nefarious activities.
According to Syracuse.com, Kushner has sold his stake in a company, Cadre, investing in Opportunity Zone projects offering tax breaks that he had pushed for in Washington, and that is prompting criticism that he was benefiting from his White House role. Unsurprisingly, when you do a Google search of Cadre, a wealthy Russian’s name pops up, and there are ties to the Kremlin and whatnot.
Kushner and his wife, Ivanka, pushed for the Opportunity Zone tax breaks to be included in Trump’s 2017 tax scam, which was a gift to the wealthy, then Jarvanka profited from it. Kushner pushed a policy that directly made him 20 million dollars in profit.
The $25 million minimum value of Kushner’s stake at the end of last year is up sharply from three years ago when it was valued at at least $5 million.”
Ivanka and Jared reported income from their companies and investments of as much as $135 million, according to their annual financial disclosure reports made public last year, and that’s a whole lot of money to make while working in the government as unpaid advisers. Of course, the couple has outside business ventures, but profiting from the Opportunity Zones project is not only an inside grift, but it’s also a morally bankrupt move.
You may remember Opportunity Zone tax breaks from the story Trump told during his State of the Union address about a recovering drug addict who benefited from a job in one such area, only for the tale to turn out false when it was revealed that the man had never worked in an Opportunity Zone.
The Trump tax breaks, according to the outlet, “offer investors big cuts in capital gains taxes if they put money into businesses and buildings in 8,700 poor, struggling neighborhoods across the country that otherwise might not attract the money.”
Trump’s daughter and son-in-law certainly made a tidy profit off of the tax breaks via struggling families. Trump promised that the 2017 tax cuts would more than pay for the $1.5 trillion costs of the tax cuts themselves. Of course, the opposite was true. The CBO projected that the tax cut would add $1.9 trillion to deficits over ten years, even after accounting for any growth effects.
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