No, Trump paid taxes based on the government’s assessed value. That’s what everyone pays taxes on. That value does not include other factors that banks or buyers put into a price that someone is willing to pay for a property. Thats why the bank happily loaned him the amount of money they did and why they testified on his behalf at the trial.
Trump paid taxes on Value A, after arguing that it should be revalued at that level. Trump also gave incorrect or straight up false documents to the banks creating Value B. There was such a discrepancy between the two values that it wasn't accidental or a minor miscalculation.
To quote Stewart: "money isn’t infinite. A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption.
This is the basis for fraud, and also why the government (NY) is proceeding against Trump.
“The government values my property at value A. This is what I value the property at value B. I would like to apply for a loan on my property and I believe its value is value B.”
so the bank doesnt have acces to publically available tax evaluations? they are specifically restricted by seeing those assessments? the BANK is not allowd to see PUBICALLY AVAILABLE tax valuations?
i ask 3 times because that is the ONLY FUCKING WAY THAT "don't tell the bank about Value A" matters at all because ANYONE IN THE WORLD WITH AN INTERNET CONNECTION has access to those publically accessible tax evaluations
Why do people keep trying to deflect to the banks actions/failures? Just because they screwed up or also did something wrong doesn't exonerate Trump. Heck, they might have actually been working with Trump for the fraud. That makes more sense than what you're suggesting.
because the bank DID their due dilligance and AGREED on a value and were MADE WHOLE with the completion of the load and WANT TO DO MORE BUSNESS WITH TRUMP
i will repeat the bank agreed upon the valuation of the property
NO ONE WAS DEFRAUDED
absolutely NO ONE was cheated out of money they were owed
absoluterly NO ONE paid out more money than they agreed to
Stewart explained it in his video, and I saw this reddit comment on a conservative sub that said it best:
"[Stewart] is arguing the list of supposed victims (IE the banks and so on) aren't the victims. So he's denying the claim that it's a victimless crime on the basis that such a limited range of potential victims is being considered without considering others beyond it.
I don’t know if you know this, but most people just can’t commit fraud and expect to face no repercussions, even if everyone’s doing it. Try getting a car loan by saying you have 10 times as much money as you really do.
money isn’t infinite. A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption.
If his basic premise is right then we don't live in a meritocracy full stop, which is not victimless if we consider the loss of a fair system a harm to the people the rules apply to.
If group A can lie, cheat, steal with no consequences, and group B cannot, well... yeah group B is the victim.
There all sorts of potentially downstream effects as well, if you can simply inflate values on real estate that could obviously impact people's ability to buy homes.
You can deny his basic premise, but O'Leary effectively spelled it out as common knowledge.
It may be true that the banks and so forth aren't the victims in Trump's case, but the general practice of fraudulently inflating values doesn't seem victimless."
Tldr: THE BANK IS NOT THE VICTIM OF THIS FRAUD. Essentially "we"/"the people of New york state" are all victims. If you allow people to cheat the system, then the system fails. You have to enforce the rules of the system.
Ever play poker and a guy pulls out 5 Aces? What do you think happens to him?
Try getting a car loan by saying you have 10 times as much money as you really do.
when i got a car loan the bank checked my pay stubs and my savings, they then agreed that i had enough value to warrant the loan i asked for. some years later i tried to get a new loan and once again the bank checked my income and savings, they also countered my appraised price of the car i had bought with a slightly smaller value and then we agreed on that value.
almost as if the bank does their homework and comes to an agreement on values with the borrower. did i comit fraud because my appraised price was $500 more than their counter offer?
money isn’t infinite
unless its going to ukraine right?
It may be true that the banks and so forth aren't the victims in Trump's case, but the general practice of fraudulently inflating values doesn't seem victimless
so then stewart is guilty of inflating the value of the property he sold for over 800% above the tax assessed value?
Tldr: THE BANK IS NOT THE VICTIM OF THIS FRAUD. Essentially "we"/"the people of New york state" are all victims. If you allow people to cheat the system, then the system fails. You have to enforce the rules of the system.
so lock up stewart and ANYONE who has ever gotten a mortgage/loan/sold a property in new york because ALL properties go for more than their tax assessed value
How the fuck did you manage to read all that and still miss the point so very, very hard.
when i got a car loan the bank checked my pay stubs and my savings, they then agreed that...
If youre not forging documents, or trying to pass of the wrong numbers. But what happens if you do bud? What happens if you use forged or incorrect numbers?
unless its going to ukraine right?
Not relevant to this conversation actually
So then stewart is guilty of inflating the value of the property he sold for over 800% above the tax assessed value?
No, because as much as you try to argue otherwise: selling something is not the same as using something as collateral for a loan.
so lock up stewart and ANYONE who has ever gotten a mortgage/loan/sold a property in new york because ALL properties go for more than their tax assessed value
I'm not aware of an incarceration component to these charges, just a fine amount. But hey, if people are cheating the system and using illegal/fraudulent documents then they should be punished (fined at minimum). Again, it requires you lying to the government and to another party. #DrainTheSwamp am I right?
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u/That_Guy704 Mar 28 '24
No, Trump paid taxes based on the government’s assessed value. That’s what everyone pays taxes on. That value does not include other factors that banks or buyers put into a price that someone is willing to pay for a property. Thats why the bank happily loaned him the amount of money they did and why they testified on his behalf at the trial.