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Likewise....certainly not a high finance expert. I did spend about two years reading everting I could get my hands on about the 2008 money correction. It was triggered by a cascading accrual of worthless assets that were continuously upsold to mask their worthless ess. This was all based on false value. They're still doing itvtoday. Not hard to understand once it is pointed out.I'm certainly no expert on "high finance" so I really can't argue with you on that.
I am however an expert on type A personalities and she is one for sure.
Yes.....thanks though.....You do realize that he's already been convicted here, right? This is just about the damages, the fines, that kinda thing.
And Trump or who we you tried to prosecute on something like this will just say they thought the real estate was worth x # of dollars. The only reason Trump’s valuation of Mara Lago seems so high is because the judge’s valuation is ridiculously low. Is Trump charged with perjury anyway?
Which I would guess will get overturn on appeal. The judges valuation of his property was ludicrous.Perjury no,
but he has already lost the case as he has already been found liable for fraud. They just currently have only to determine how much he will be fined.
Trump will probably appeal
Well the appeals court will make that determination if they choose to hear the case.Which I would guess will get overturn on appeal. The judges valuation of his property was ludicrous.
And Trump or who we you tried to prosecute on something like this will just say they thought the real estate was worth x # of dollars. The only reason Trump’s valuation of Mara Lago seems so high is because the judge’s valuation is ridiculously low. Is Trump charged with perjury anyway?
www.cnbc.com
Well the appeals court will make that determination if they choose to hear the case.
That's fucking stupid. It's 17 acres of prime waterfront property. Do you really think Florida would allow development of it? Of course they would the revenue from the permitting, and taxes would be crazy. Trump just got a tax break from Florida years ago so long as he didnt develop it.It's not just the value of Mar-a-Lago that's the problem. (which isn't very valuable because it can't be legally developed, therefore has no resale value.)
It's things like claiming his 10,000 SF Penthouse was 30,000 SF.
It was claiming $100MM in rental revenue potential for Trump Tower when the operating capital was only $7MM.
These aren't differences of opinion, they are outright fraud, and internal Trump Org memos show that they knew it was fraud.
It's not just the value of Mar-a-Lago that's the problem. (which isn't very valuable because it can't be legally developed, therefore has no resale value.)
It's things like claiming his 10,000 SF Penthouse was 30,000 SF.
It was claiming $100MM in rental revenue potential for Trump Tower when the operating capital was only $7MM.
These aren't differences of opinion, they are outright fraud, and internal Trump Org memos show that they knew it was fraud.
"I've been committing crimes this entire time and no one has cared until now" isn't much of a legal defense.That's fucking stupid. It's 17 acres of prime waterfront property. Do you really think Florida would allow development of it? Of course they would the revenue from the permitting, and taxes would be crazy. Trump just got a tax break from Florida years ago so long as he didnt develop it.
All of which was going on for how long and no one cared.... Until now, Wonder what changed.
That's fucking stupid. It's 17 acres of prime waterfront property. Do you really think Florida would allow development of it? Of course they would the revenue from the permitting, and taxes would be crazy. Trump just got a tax break from Florida years ago so long as he didnt develop it.
All of which was going on for how long and no one cared.... Until now, Wonder what changed.
He's saying if sold it couldnt be broken up and made into multiple estates or converted to just a residence. Which is just patently untrue.Trump did get a tax break early on but within 10 years he realized the business potential of this property. Place to live and make money. Much like Trump towers.
Well it was a residential property. He added the resort and golf course about 10 years later. I believe there is a golf course also for its members.
So it was developed years ago and he did make big money by converting it from a home to a home and business property. He is making big time money from this property. Which probably dwarfs any tax break.
When he was president he would fly to his property and bring along his entourage and charge the government.
Trump did get a tax break early on but within 10 years he realized the business potential of this property. Place to live and make money. Much like Trump towers.
Well it was a residential property. He added the resort and golf course about 10 years later. I believe there is a golf course also for its members.
So it was developed years ago and he did make big money by converting it from a home to a home and business property. He is making big time money from this property. Which probably dwarfs any tax break.
When he was president he would fly to his property and bring along his entourage and charge the government.
That's fucking stupid. It's 17 acres of prime waterfront property. Do you really think Florida would allow development of it? Of course they would the revenue from the permitting, and taxes would be crazy. Trump just got a tax break from Florida years ago so long as he didnt develop it.
All of which was going on for how long and no one cared.... Until now, Wonder what changed.
He's saying if sold it couldnt be broken up and made into multiple estates or converted to just a residence. Which is just patently untrue.
LOL? Why? That shit happens all the time. It's some paperwork their lawyers draw up and send to the state/municipality. Do you know how much land in SW Florida was "protected wetlands" right up until it wasnt and then they let them develop it? Thousands of acres. Getting that property rezoned wouldnt take 15 mins of work. There's money to be made by everyone on that deal and they arent going to pass up the opportunity to make it. The State would probably make the most money over the long run which is why they would jump at the chance to do it. At the current state valuation (due to the zoning) the state gets about 180k in property taxes. If its rezoned and developed, and the combined value of the estates built there is say 750 million, which wouldn't be a stretch they get 7.5 million a year. Why wouldnt they do that?It would require a zoning change to do so. I doubt many developers would be keen on going ahead and fighting over the historical site and the graveyard and the zoning change.
That doesn't mean it's actual value on the open market is that low you fuck tard. Did Trump overvalue it some? Sure, but he didn't value an 18 million dollar property at 1 billion, its closer to a 750million-800million dollar property. That's a huge difference and one that happens routinely in that business. If this were anyone other than Trump there wouldn't be a court case. And everyone knows it. Even you.Except because he got that tax break, it can't be developed. He got it zones as "Large residential". This is why the tax appraiser valued it at between 18 and 27 million.
Is Mar-a-Lago really worth $1B? Trumpâs claim at core of fraud trial
It’s a unique property that experts say would fetch hundreds of millions of dollars. But a billion? Here’s why it matters.www.tampabay.com
Siding with New York’s attorney general in a lawsuit accusing Trump of grossly overvaluing his assets, Judge Arthur Engoron found that Trump consistently exaggerated Mar-a-Lago’s worth. He noted that one Trump estimate of the club’s value was 2,300% times the Palm Beach County tax appraiser’s valuations, which ranged from $18 million to $37 million.
It also has significance as a historical site, which also limits what can be done with it. (Not that hasn't stopped Trump from making it into a gaudy Persian Palace). Trump has also pulled cute stunts like burying his dead ex-wife there to give it a tax break for being a cemetery. This would further limit what a future buyer can do with the property. We've all seen Poltergeist!
Again, everyone does it is not a legal defense. That Trump got away with something for a long time, doesn't mean he wasn't breaking the law.
Minutes of works, years of litigation.LOL? Why? That shit happens all the time. It's some paperwork their lawyers draw up and send to the state/municipality. Do you know how much land in SW Florida was "protected wetlands" right up until it wasnt and then they let them develop it? Thousands of acres. Getting that property rezoned wouldnt take 15 mins of work.
That doesn't mean it's actual value on the open market is that low you fuck tard. Did Trump overvalue it some? Sure, but he didn't value an 18 million dollar property at 1 billion, its closer to a 750million-800million dollar property. That's a huge difference and one that happens routinely in that business. If this were anyone other than Trump there wouldn't be a court case. And everyone knows it. Even you.
Who's going to sue? Seriously. The people in West Palm? Why? That doesnt change the valuation of the property.Minutes of works, years of litigation.
I just went through a condo deconversion. Even though 77% of the owners voted for it, we had nearly two years of litigation before the sale finally went through. I imagine that everyone and his brother will sue over Mar-a-Lago.
Point was he lied on official documents, and that's a crime. Just like Hunter saying he wasn't on drugs when he bought a gun was a crime.
Everybody does it isn't a legal defense.
Who's going to sue? Seriously. The people in West Palm? Why? That doesnt change the valuation of the property.
