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People need to stop and do the math here. Trump had claimed on his taxes that rural property that he purchased at $4,587/acre was worth $229,357.79/acre!
If you do not find this to be ridiculous than you are clueless as to how land is valued. *Remember, this land is not in an urban environment and most of the acres are landlocked!
The land proved to be a bad purchase and most likely he was not able to sell it for what enough to cover his investment. So, he donated it and lied about its value to the Federal Government in order to get major tax breaks. Corporations and the rich do this all the time, and sometimes they get audited and called out on their lie. However, when this happens, we do not cry that they are victims and that X political party are Big Fat Meanies for exposing it.
Here's an in-depth and well researched article about the transaction. Complete with nice pictures and videos. You can count on Time to do the real journalism.
I don't think you will be confused after reading about it.
Mathguy: Do we have any support that it wasn't worth the 26million? (note question mark)
You link to an article whose very title ends with: Is It Worth $26.1 Million? (note question mark)
I do appreciate the link and yes, it was a well done article but it leaves me where I started.
I'm not taking a position either way, it could certainly be overstated but then again we don't even know if that was the deduction he took. (per the article) Could be he took a lower amount on the actual taxes but had the number incorrect or fluffed up on a list of charitable deductions.
People need to stop and do the math here. Trump had claimed on his taxes that rural property that he purchased at $4,587/acre was worth $229,357.79/acre!
If you do not find this to be ridiculous than you are clueless as to how land is valued. *Remember, this land is not in an urban environment and most of the acres are landlocked!
The land proved to be a bad purchase and most likely he was not able to sell it for what enough to cover his investment. So, he donated it and lied about its value to the Federal Government in order to get major tax breaks. Corporations and the rich do this all the time, and sometimes they get audited and called out on their lie. However, when this happens, we do not cry that they are victims and that X political party are Big Fat Meanies for exposing it.
2.75mil / 436 = 6,307
26mil / 436 = 59,633
So, bad math followed by conjecture and a claim about what was actually taken on the taxes (which none of us know) without any proof followed by mocking people who won't just readily accept your shoddy work product as absolute fact.
So, bad math followed by conjecture and a claim about what was actually taken on the taxes (which none of us know) without any proof followed by mocking people who won't just readily accept your shoddy work product as absolute fact.
I was calculating by the claim of him paying $2M for the property and claiming its worth of $100M.
FYI even $59,633/per acre for rural and mostly landlocked acreage is excessive.
I was calculating by the claim of him paying $2M for the property and claiming its worth of $100M.
FYI even $59,633/per acre for rural and mostly landlocked acreage is excessive.
Ok so here is what we don't know.
1) We don't know what a fair appraisal of the land would be.
2) We don't know what Trump actually took for a deduction on his filed taxes.
Have you pulled it up on google maps? Because by my definition of "rural" you shouldn't have a large mall less than half a mile away and subdivisions all around within a mile or two.
Maybe NY State is just planning ahead since they’ll eventually be charging him with a multitude of financial crimes. It’s a bad look to have a park named after a felon.
Maybe NY State is just planning ahead since they’ll eventually be charging him with a multitude of financial crimes. It’s a bad look to have a park named after a felon.
The threads like this where people have decided guilt when we don't have facts definitely help make the point that the prosecutions and investigations are politically motivated.
Trump never gets into politics and keeps donating to NY politicians and do these investigations occur?
I don't like Trump, I just don't think some folks realize how scary it is when prosecutors pick and choose whom to dive into based upon politics.
What if some wealthy dem decides to challenge DeBlasio for Mayor? Time for an investigation!
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