[Plura-list] Tali Farhadian Weinstein paid virtually no tax on millions and millions
doctorow at craphound.com
Thu Jun 17 08:47:02 EDT 2021
* Tali Farhadian Weinstein paid virtually no tax on millions and
millions: And she wants to be the Manhattan DA and go after Trump's
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🦺 Tali Farhadian Weinstein paid virtually no tax on millions and millions
If you're still scraping your jaw off the floor after Propublica's
monster story on tax-dodging among the ultra-wealthy, then buckle up,
because they're not anywhere close to reporting out that leaked data.
Today's story from The Secret IRS Files is about Tali Farhadian
Weinstein, the ultrawealthy frontrunner candidate for the Democratic
primary for DA of Manhattan.
Farhadian Weinstein and her husband - hedge fund manager Boaz Weinstein
- earn stupendous amounts of money ($107m in 2011!) and pay virtually no
"In 2017... she and her husband paid no federal income tax. In 2015 and
2013, they also paid no federal income tax. In 2014, she and her husband
Farhadian Weinstein is the frontrunner in the primary in part because
she's got millions and millions of dollars to spend on her campaign -
most recently, she donated $8.2m to that campaign.
She's raised millions more, in large-dollar sums, from the finance
sector, transforming the Manhattan DA primary into a game of moneyball
in which she has outraised other candidates by 600-1,000%.
If she becomes Manhattan DA, one of the cases she'll manage is the
investigation into Donald Trump's tax frauds.
Unlike Trump, Farhadian Weinstein isn't accused of breaking the law -
merely exploiting its loopholes to pay an overall average tax rate of
12.6% from 2010-18.
That is a period in which her household saw hundreds of millions of
dollars in income - and also a period in which she (like Jeff Bezos)
claimed $5k in child tax credit for middle- and low-income families.
Farhadian Weinstein told Propublica in the years in which her family had
"net income" they paid "more than 50% of our income in Federal, State
and New York City tax." Propublica says that in the years in question,
they paid 25.9% on millions, while the top rate was 35-39.6%.
Meanwhile, in years like 2013, the couple were able to declare no "net
income" on earnings of $1.5m, in part by declaring $1m in "miscellaneous
expenses" (Farhadian Weinstein declined to explain what these were).
Again, no one says she broke the law, but rather, that she exploited the
law to get a deal that the voters of New York City couldn't hope to get
for themselves, that in so doing, she amassed a vast fortune, and that
she's using that fortune to buy high office.
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