2016 Postmortem
Related: About this forumTrump Lied On Candidate Disclosure Form
BREAKING: Trump Lied On Candidate Disclosure Form
Theres a reason Donald Trump is refusing to release his taxes, and its not just because of an ongoing audit at the IRS.
Recently it has just been discovered that Trump, in an effort to show the world how rich he is, valued one of his properties at more than $50 million, yet his attorneys, for tax purposes, tried to argue that it is really only worth $1.35 million. The property in question, The Trump National Golf Club in Westchester County, New York, is a sprawling 147-acre private club with manicured lawns, stone bridges, and has a 101-foot waterfall.
If Trumps attorneys are legitimately trying to value the property correctly, then that means Trump lied on his candidate disclosure form.
But, heres the thing: chances are whats really happening is that Trump is drastically undervaluing the property in order to not pay his fair share of taxes on the property. Either way, hes lying.
Heres what we know: Trump bought the property for $8 million in a foreclosure sale and then immediately spent $45 million to build an 18-hole golf course, as well as a 75,000-square-foot clubhouse. Those improvements are quite substantial. That begs the question then, how on earth would Trumps tax assessment decrease from the purchase price even with all of those upgrades?
Thats exactly what the town of Ossining is trying to figure out. Dana Levenberg, the town supervisor, says this is hurting their towns revenues.
If Trump gets his way then that means he would be cutting his tax burden by 90 percent, dumping the burden on everyone else.
more...
http://news.groopspeak.com/breaking-trump-lied-on-candidate-disclosure-form/
Dump The Rump
(26 posts)Call him T RUMP from now on and see if he ignores his real name. It all come down to the part of a horse that goes over the fence last.
mnhtnbb
(31,402 posts)The guy was beyond stupid to run for President if he really valued his "business" dealings. He had to know it would all be put under
a microscope. I just hope there will be consequences for him...not only to his ego when he loses to Hillary, but to his financial
empire, too.
Skoods
(341 posts)mnhtnbb
(31,402 posts)but I'm hoping for a financial reckoning day for him, too.
Bernardo de La Paz
(49,036 posts)LeftRant
(524 posts)Losing the election will be grand, but it's not going to make up for all of his bullshit, his seditious behavior toward the president, the racism he re-mainstreamed, the blatant disregard for women, etc. etc. etc. etc. etc.
LOCK HIM UP!
Cicada
(4,533 posts)I know from seeing the tax filing that in the 1980's the Los Angeles Country Club legally paid property tax on a value of slightly more than $100,000 (A tax of a bit over $1000) even though their property was probably worth more than one billion dollars.
groundloop
(11,522 posts)BSdetect
(8,999 posts)under real estate investment law loopholes legal or otherwise
And we end up paying to make up the revenue one way or another.
panader0
(25,816 posts)sunnystarr
(2,638 posts)I almost didn't think much of it due to the website. The original was posted on an ABC news site May 16, 2016.
http://abcnews.go.com/Politics/time-donald-trump-undersells-tax-time/story?id=39133709
Looks like everyone missed it amid the Trump noise at the time. Definitely worth the read time.
ailsagirl
(22,899 posts)Coyotl
(15,262 posts)Laura PourMeADrink
(42,770 posts)Mc Mike
(9,115 posts)ffr
(22,671 posts)And America is next if we let his hardened supporters win, come election day.
Spitfire of ATJ
(32,723 posts)Martin Eden
(12,875 posts)Having no attention paid to him would hurt this narcissist more than anything else.
Of course, he should be prosecuted for any crime or fraud he committed.
SleeplessinSoCal
(9,144 posts)But maybe more will get wind of it today. Most of his blatant lies and fraudulent business dealings get buried in BS.
Victor_c3
(3,557 posts)If Americans wants a businessman as a president then they are going to have accept that this person will but their profits before the needs of the masses. Trump supporters will get what they vote for - a self serving prudent businessman who cares about nothing else than their own pockets and their own advancement over everyone else.
A general rule of economics is that what is good for one person isn't good for everyone. That's business for you.
Duppers
(28,127 posts)JBoy
(8,021 posts)I.e., the value is based on the income generated by the property. If they can demonstrate that it doesn't earn much income, then its capitalized value would be low.
Ilsa
(61,698 posts)He signed contracts for $45 mil in improvements, and probably only paid about $15 mil in improvements after fucking over the contractors and subs.
annabanana
(52,791 posts)uponit7771
(90,363 posts)TeamPooka
(24,254 posts)Tom Rinaldo
(22,913 posts)UCmeNdc
(9,600 posts)He will say anything to Con you. Trump will lie to convince you to give him what he wants.
dae
(3,396 posts)rendered on this project. Trump is less businessman, more crook by not honoring contracts with small businesses.
Yes his track record certainly shows his support of the average Joe.
gregcrawford
(2,382 posts)... or a malignant sociopath who's irredeemably evil down to his DNA. Hmmm... I'm goin' with number 2.
bucolic_frolic
(43,281 posts)That man faked his own documents??
Wow ... you see the hypocrisy, the irony, the devious personality.