How tf can you even over value something? That would just mean you pay more taxes right? Even if someone bought it way above what it’s worth, that’s something the government should have no say in, but also it’s the buyer’s dumbass fault for not researching and taking a bad deal
If you're asking what they charged Trump with it's roundabout. It talks about it in this article. The tax assessor uses a formula to come up with one value, and the market dictates another. Trump's trial didn't address the market value of his properties. he was demonstrated to have overvalued them because he claimed a value higher than the tax assessor had. If the lender were suing Trump, they could make an argument that he overvalued property, deceiving them. But they aren't. It's the government going after him.
Mr Wonderful from TV said it worried the whole NY real estate community because the whole community operates under this regime where assessed value is far less than market value.
Leibowitz didn't overvalue anything though. He sold it, establishing its value. If the tax man is too dumb to pick up on that this one thing isn't Jon's fault.
Leibowitz didn't overvalue anything though. He sold it, establishing its value. If the tax man is too dumb to pick up on that this one thing isn't Jon's fault.
In his 12 min rant the only two actual points he had against Trump:
banks didn't make as much money on interest as they could have
Trump didn't pay 'enough' property taxes, expounding that it wasn't victimless because if he had paid more than assessed there would be more food stamps and Walgreens.
In both cases the property was taxed far below it's value and the principals knew it. In Leibowitz's case we know for sure that he failed to voluntarily overpay the assessed tax in the year he sold it - that's if he listed it at $2 million and maybe there was a bidding war that drove it up to $20. I'd bet he listed it higher than $2 million though, indicating he already knew it was worth more than assessed.
The only difference here in (2) is that Trump continued to not voluntarily overpay the assessed tax for a several years whereas John only did so for one or more years. This is quite a fine distinction. "I only killed one person whereas he killed 3 or 4 people" - you both did the same thing, just to varying degrees.
The only non-hypocritical point John Stewart Leibowitz made was the bank could have made slightly more money - which he said in his piece he doesn't care about and the bank also said they don't care about.
How tf can you even over value something? That would just mean you pay more taxes right? Even if someone bought it way above what it’s worth, that’s something the government should have no say in, but also it’s the buyer’s dumbass fault for not researching and taking a bad deal
If you're asking what they charged Trump with it's roundabout. It talks about it in this article. The tax assessor uses a formula to come up with one value, and the market dictates another. Trump's trial didn't address the market value of his properties. he was demonstrated to have overvalued them because he claimed a value higher than the tax assessor had. If the lender were suing Trump, they could make an argument that he overvalued property, deceiving them. But they aren't. It's the government going after him.
Mr Wonderful from TV said it worried the whole NY real estate community because the whole community operates under this regime where assessed value is far less than market value.
Leibowitz didn't overvalue anything though. He sold it, establishing its value. If the tax man is too dumb to pick up on that this one thing isn't Jon's fault.
In his 12 min rant the only two actual points he had against Trump:
In both cases the property was taxed far below it's value and the principals knew it. In Leibowitz's case we know for sure that he failed to voluntarily overpay the assessed tax in the year he sold it - that's if he listed it at $2 million and maybe there was a bidding war that drove it up to $20. I'd bet he listed it higher than $2 million though, indicating he already knew it was worth more than assessed.
The only difference here in (2) is that Trump continued to not voluntarily overpay the assessed tax for a several years whereas John only did so for one or more years. This is quite a fine distinction. "I only killed one person whereas he killed 3 or 4 people" - you both did the same thing, just to varying degrees.
The only non-hypocritical point John Stewart Leibowitz made was the bank could have made slightly more money - which he said in his piece he doesn't care about and the bank also said they don't care about.