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John Oliver Benefits From A Tax Loophole Initiated By Donald Trump

Like many hosts, John Oliver has been critical of Donald Trump. Perhaps that’s why he went through such extreme measures to hide the fact that he benefits from a tax loophole initiated by the former New York real estate developer.

Accrding to New York Observer:

The “Last Week Tonight” host has been very critical of politicians “actively introducing policies that disproportionately benefit the wealthy,” such as tax cuts and trusts that serve as loopholes for the rich.

However, the British comedian sought counsel from a tax attorney back in 2014 to set up two revocable trusts in order to hide his purchase of a $9.5 million Manhattan mansion. Now, Oliver is benefiting from a tax break on that multi-million dollar crib that Trump fought for nearly 40 years ago.

Oliver and his wife, Kate Norley Oliver, hired New York law firm Prokauer Rose LLP to help them purchase the luxurious New York City pad. Their lawyer Jay Waxenberg, who specializes on “estate and tax planning and estate and trust administration,” helped the couple set up the trusts, which Oliver has so often criticized, in order to make it happen. Then Oliver reaped the benefits of a loophole established by the current president when he was making plans to build Trump Tower back in 1980.

 

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