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News & Current Events (Articles Required)
Donald Trump paid $750 in federal tax in 2016, but the defense cost is about $6,000/household
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<blockquote data-quote="Halbhh" data-source="post: 75377440" data-attributes="member: 375234"><p>Alright, but I'm wondering about the NY State investigation.</p><p></p><p>Here's what was going on --</p><p><em>Over the years, <a href="https://www.nytimes.com/2020/08/26/us/politics/trump-convention-night-2.html" target="_blank">Donald Trump</a> and his company have placed widely different values on the Seven Springs estate.</em></p><p><em></em></p><p><em>The sprawling property north of New York City was purchased for $7.5 million in 1995. But by 2014, the Trump Organization said it was worth $291 million, in financial documents its officers prepared when they were seeking a bank loan. Four years later, on Mr. Trump’s ethics disclosure form, it was listed as being worth no more than $50 million.</em></p><p><em></em></p><p><em>That property and three others have become a focus of an investigation by the New York State attorney general’s office into whether the president and the Trump Organization improperly inflated the value of his holdings, making false representations to banks or on tax forms.</em></p><p><em><a href="https://www.nytimes.com/2020/08/26/nyregion/trump-letitia-james-investigation.html" target="_blank">Did Trump Overvalue His Properties? Here’s What We Know About the Inquiry</a></em></p><p></p><p>It's in the news Trumps organization will owe payments of $300 million on loans in next few years.</p><p></p><p><em>The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.</em></p><p><em>-- NyTimes, From the OP link</em></p></blockquote><p></p>
[QUOTE="Halbhh, post: 75377440, member: 375234"] Alright, but I'm wondering about the NY State investigation. Here's what was going on -- [I]Over the years, [URL='https://www.nytimes.com/2020/08/26/us/politics/trump-convention-night-2.html']Donald Trump[/URL] and his company have placed widely different values on the Seven Springs estate. The sprawling property north of New York City was purchased for $7.5 million in 1995. But by 2014, the Trump Organization said it was worth $291 million, in financial documents its officers prepared when they were seeking a bank loan. Four years later, on Mr. Trump’s ethics disclosure form, it was listed as being worth no more than $50 million. That property and three others have become a focus of an investigation by the New York State attorney general’s office into whether the president and the Trump Organization improperly inflated the value of his holdings, making false representations to banks or on tax forms. [URL='https://www.nytimes.com/2020/08/26/nyregion/trump-letitia-james-investigation.html']Did Trump Overvalue His Properties? Here’s What We Know About the Inquiry[/URL][/I] It's in the news Trumps organization will owe payments of $300 million on loans in next few years. [I]The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due. -- NyTimes, From the OP link[/I] [/QUOTE]
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Donald Trump paid $750 in federal tax in 2016, but the defense cost is about $6,000/household
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