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Once again, Donald Trump is raging that his compound in Florida is worth a billion dollars or more!
How does he do what with an estimated tax assessment of around 20 million?
The Saudi's will pay that much! he explains.
Er... maybe not.
If the Saudi's wanted to prop him up... maybe it would be worth more that 20 million, but the way things are going for Trump the place could be had for a lot less in a bankruptcy sale. Ten cents on a dollar?
This is exactly what they're nailing him for: fraud. You tell the bank you're worth billions but plead poverty to the tax man. One of his defenses is that's the way real estate works. If that's true then the entire real estate business is fraudulent.
But we knew that already.
A number of years ago I inherited some funds after my dad died. I didn't know that I had to take a certain amount out every year and the IRS jumped up and down on me with hobnail boots. I had to pay a fine equal to the amount I would have taken out (several hundred dollars) and write a nice "I'm so sorry" letter.
And Trump gets away with millions? Seize his ass(ets) and lock him up.
How does he do what with an estimated tax assessment of around 20 million?
The Saudi's will pay that much! he explains.
Er... maybe not.
If the Saudi's wanted to prop him up... maybe it would be worth more that 20 million, but the way things are going for Trump the place could be had for a lot less in a bankruptcy sale. Ten cents on a dollar?
This is exactly what they're nailing him for: fraud. You tell the bank you're worth billions but plead poverty to the tax man. One of his defenses is that's the way real estate works. If that's true then the entire real estate business is fraudulent.
But we knew that already.
A number of years ago I inherited some funds after my dad died. I didn't know that I had to take a certain amount out every year and the IRS jumped up and down on me with hobnail boots. I had to pay a fine equal to the amount I would have taken out (several hundred dollars) and write a nice "I'm so sorry" letter.
And Trump gets away with millions? Seize his ass(ets) and lock him up.
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