Panicked New York Governor Tells Businesses “They Have Nothing to Fear” After Democrat Leaders Fleece Donald Trump of $355 Million

[JLW]

The lawsuit brought by James has zero to do with taxes, JLW. Care to try again?

Trump violated the law, and he was prosecuted for it. You may not agree with it, but that is the law.

BTW, if you read the Court’s opinion while you will find it does touch on Trump’s taxes, it delves into areas of misrepresentation of its financial statements, insurance fraud and losses to the banks.

I will admit I confused an earlier Trump prosecution for tax fraud with the current one as far as Trump’s taxes are concerned. The Trump Organization was fined 1.6 million dollars in the earlier suit

 

[OldFlame]

The law doesn't require a victim. Although a bank not getting the interest rates they're entitled too makes the bank a victim. It's all there in the judgement... you should read it before commenting!!!

So the banks are getting the money he was ordered to pay to compensate for their damages?

 

[BluesLegend]

New York and California are in the beginnings of a death spiral and the people running them are too stupid to see the writing on the wall!

I understand why you would assume Dems are "stupid" but that's not it. It's greed and corruption. Dems are not trying to build a prosperous state, Dems are vampire sucking it dry getting all they can before it dies. You see this mentality at all levels of government state, county, city.

 

[Slade3200]

The reason I didn't bring up the near 100 billion dollar surplus from last year is that it never actually existed, Slade! That was an "estimate" of what the surplus would be based on predictions of revenue! That estimate prompted Gavin Newsome to send a budget to California lawmakers that was full of all kinds of new spending...spending that the legislature gleefully passed. Unfortunately those estimates of revenue were way off. California's economy had boomed coming out of the pandemic because of huge amounts of money being pumped into the State by the Federal Government. When that money dried up...the economy slowed. It became so bad in fact that Newsome was forced to cut some of the spending that had been authorized and even with those actions the State is facing large declines in revenue. Those declines are being aggravated by a sizable migration of money out of the State headed for places that are more business friendly or don't tax high income earners as much. It's gotten so bad that California is trying to pass a retroactive tax on the wealthy who leave the State...something that I highly doubt will hold up in court.

If the 100B surplus didn’t exist then what was the actual number? From what I’ve read the estimates were off by about $10B due to interest rate hikes done to curb inflation and cool the economy. I by no means am going to stand up for Newsom's spending but I think saying Cali will be broke anytime in the future is totally unrealistic. They are too big of a player to go broke. Debt is leveraged in both state and national economies.

 

[Slade3200]

So the banks are getting the money he was ordered to pay to compensate for their damages?

No, the banks weren't damaged. The state gets compensated from the profits that were earned off the fraud.

 

[Oldestyle]

No, the banks weren't damaged. The state gets compensated from the profits that were earned off the fraud.

Compensated for what? The State wasn't injured in anyway. That's absurd.

 

[Slade3200]

Compensated for what? The State wasn't injured in anyway. That's absurd.

If you think it’s absurd then change the law. It’s not abnormal to have penalties associated with breaking law.. Remember the law was written before Trump, not for Trump

 

[Oldestyle]

If the 100B surplus didn’t exist then what was the actual number? From what I’ve read the estimates were off by about $10B due to interest rate hikes done to curb inflation and cool the economy. I by no means am going to stand up for Newsom's spending but I think saying Cali will be broke anytime in the future is totally unrealistic. They are too big of a player to go broke. Debt is leveraged in both state and national economies.

You don't seem to grasp that the "surplus" was an ESTIMATE of what California was going to be receiving in tax revenue, Slade! It wasn't what they HAD received! They miscalculated and did so quite badly. They assumed that the spike in revenues from the money that the Federal Government invested in California was going to continue. It didn't...coming in at $26 billion below their estimate. What has resulted from that is an estimate from the LAO of a budget deficit of $68 billion dollars for this fiscal year...in large part due to spending that was approved in anticipation of a large surplus. That's not even counting spending that's been proposed for the State to pick up healthcare costs for all illegals.
As to their being too big to go broke? Right now home sales are down by 50%. The number of California companies going public are down 80% which means companies have little funding to expand. Unemployed workers are up 200,000 since the summer of 2022 which means the State's unemployment rate has gone from 3.8 percent to 4.8 percent yet another drain on State funds. Inflation adjusted incomes have posted five straight quarters of year over year declines. California is experiencing it's first loss of population ever with more people leaving the State than what are coming in. What's really concerning about that number is WHICH people are leaving and which are coming in! The wealthy make up the bulk of the folks leaving and illegals make up the bulk of the ones coming in which means the part of the population that liberals expect to tax more heavily to pay for the entitlements they've promised illegals is shrinking faster than a snow bank in April!
California is in deep trouble. DEEP trouble!

 

[Oldestyle]

If you think it’s absurd then change the law. It’s not abnormal to have penalties associated with breaking law.. Remember the law was written before Trump, not for Trump

The law has never been used against a real estate developer such as Trump in it's entire history, Slade. Show me one other developer that has EVER been charged with fraud for a transaction where they paid a loan back to a bank with interest and on time and the bank was happy with the profit they made!

 

[AZrailwhale]

Haha, a few years and you think Cali will be out of money?!

Cali is only the state with the largest economy in the USA and 5 largest in the world… but you think it will be out of money in a few years… You’re funny

California has ONE POINT THREE TRILLION in unfounded pension liabilities, plus over SIXTY EIGHT BILLION in a yearly deficit. Next year it’s likely to be worse.

 

[AZrailwhale]

You really think we're going through all this trouble to NOT put him in prison. Prison is the whole point of this

No, keeping out of the Oval Office is the point of this.

 

[Deplorable Yankee]

And more will flee .... businesses are recoiling in horrah ...no one will invest in nys or NYC

Also

gotta pay for those illegals ...some are getting up to 10 grand on cards



Stupid corrupted Nazi left-wingers need to stay fucking put and suck it

 

[AZrailwhale]

You don’t understand economics very well do you? Did you know that the USA is also in the red? yet it is the largest economy in the world? Doesn’t that just blow your mind?!

I guess we will just have to wait a few years to see Cali run out. Haha

The USA can print money, California can’t.

 

[Whodatsaywhodat.]

She just admitted this was nothing but a political hit against Trump. She is a liar and they will target any organization or individual they deem a threat to them.

Does Anyone Believe This?... New York Governor Tells Businesses "They Have Nothing to Fear" After Democrat State Leaders Fleece Donald Trump of $355 Million | The Gateway Pundit | by Jim Hoft

New York Governor Kathy Hochul attempted to reassure business owners in New York that they have nothing to fear after the state’s Attorney General fleeced $355 million from President Trump for running a business in the state.

www.thegatewaypundit.com

New York governor is a Democrat. So that's all they do is lie.

 

[MAGA Macho Man]

And more will flee .... businesses are recoiling in horrah ...no one will invest in nys or NYC

Also

gotta pay for those illegals ...some are getting up to 10 grand on cards

Damn, he has a right to be pissed. That's outrageous what they've done to his properties.

 

[AZrailwhale]

Oh really? A terrorist caught in the act of manufacturing a bomb is not a terrorist. After all no bomb exploded so no victim.

Actually you are correct. A terrorist commits acts of terror. He could be convicted of conspiracy, or of building an explosive device. But until he commits the very specific act of terrorism, he isn’t a terrorist. He has committed a number of felonies, but not terrorism.

 

[Arlette]

No, keeping out of the Oval Office is the point of this.

That goes without saying

 

[forkup]

In that case...did the charged party pay off it's loan on time with interest? Did the lending party state that it was happy with the transaction? Not similar at all, Forkup...sorry!

Again. The statute doesn't require the exact set of circumstances that is present in this case. It just requires a showing of persistent, willful fraud. The ridiculousness of me having to find the exact fact set in order too... Now I think about it. Too what?

Does the judgement gain validity to you? I'm sure it doesn't. You don't even feel the need to read the judgement in order to reject it.

How can you possibly have an informed opinion about something you refuse to investigate? Yet according to you. In order for me to have an informed opinion, I have to look up something that has no bearing on the actual law on top of reading the judgement.

The gap of information is so large. And the unwillingness to actually do anything to inform yourself is so pervasive that discussion is almost pointless.

 

[Slade3200]

You don't seem to grasp that the "surplus" was an ESTIMATE of what California was going to be receiving in tax revenue, Slade! It wasn't what they HAD received! They miscalculated and did so quite badly. They assumed that the spike in revenues from the money that the Federal Government invested in California was going to continue. It didn't...coming in at $26 billion below their estimate. What has resulted from that is an estimate from the LAO of a budget deficit of $68 billion dollars for this fiscal year

So if the estimate was $100B surplus and you say it came in $26B below the estimate then that’s a $74B surplus for 2022, right?

If 2023 is looking at a $68B deficit, then we would still have $6B surplus for the two years. ($74B - $68B) Is that what you’re getting?

 

[Oldestyle]

So if the estimate was $100B surplus and you say it came in $26B below the estimate then that’s a $74B surplus for 2022, right?

If 2023 is looking at a $68B deficit, then we would still have $6B surplus for the two years. ($74B - $68B) Is that what you’re getting?

That's what I'm getting. I'm also getting estimates for the next two years of further deficits around the 35 billion dollar range and that's with large cuts to spending included...cuts that Newsome has yet to make.
Think of it this way, Slade...that huge "surplus" was the result of a massive influx of Federal spending in California due to the pandemic. Think of it like you won the "lottery". It wasn't money that your State produced...it was money that your State was gifted! California for some reason (well let's face it...politicians LOVE to spend money!) decided that this was a trend that would continue and they could therefore spend a shit ton of money that they hadn't yet received...which they did.
So now the State is facing huge deficits. They're also facing the results of passing a new minimum wage law that's going to absolutely bring investment in California to a screeching halt...something that will further erode their revenue base. They're also facing the enormous cost of an open border policy that has illegals pouring into the State at an unprecedented rate...illegals which they have now decided that they should pick up the cost of their healthcare. It's one bad decision on top of another.