Posted on March 02 2019
see update at the bottom, I pulled this Westchester taxes...
Donald J. Trump
his golf courses his commercial properties
IS. A. TAX. CHEAT
As I briefly mentioned in yesterday’s entry, during the Michael Cohen House Oversight Hearing...it was largely a shittlestix-show. However there were a few moments that should be closely analyzed. One such moment was the exchange between freshman House member AOC (again I am not nor will I ever be a fan of her’s), notwithstanding her questions surrounding Donald Trump’s golf courses and the unequivocal answers from Michael Cohen. I genuinely believe this was one of the more valuable exchanges over the hours long hearing. In case you missed the exchange, I highly recommend you watch it and listen very carefully to Rep AOC’s questions and then listen to Cohen’s answers:
🌶SpicyFiles - Summary🌶
Not to belabor the point, I’m not a fan of AOC. However, as I stated yesterday, I am intellectually honest enough to admit that she asked pertinent questions surrounding Trump’s golf courses. You really have watch this exchange, I think you might agree with my preliminary assessments. Below is an abbreviated summary of what I think are relevant lines of further inquiries.
At all relevant times, I will link to the Orginal Data Source(s), City, County Tax Assesor, Court Filings, Tax Bills, Mortgages, Land Use Applications, etc. I do not believe or condone doxing, at all. The exception is when it comes to commercial properties, that is not (in my view doxxing) it is using publically available databases versus blasting someone’s personally identifiable information.
My presentation henceforth will be in the CAUSE and EFFECT format:
Cause: Trump Org sues municipalities with the goal of lowering the assessed value of his golf courses. Saving his businesses tens if not hundreds of millions of dollars in taxes.
Effect: Thereby lowering Trump’s property’s assessed “value” with the intended goal of lowering the actual tax load for his businesses.
Cause: Trump and his respective businesses are nothing more than a vast and incompressible complex network of shelf and shell Companies. In late 2017 Kim Albrecht created this phenomenal visual & interactive data/graph of the more than 1,500 Trump Business Entities. I recommend you bookmark this link.
Effect: in my professional experience when an Organization has hundreds and potentially thousands of shell and shelf companies, they do this on purpose. Insofar as to frustrate efforts to unwind and making it extremely burdensome for Government Entities, the Media, researchers and citizen journalists to unweave this complex web. A very simple way I can explain how complex Donald Trump & Trump Org network is
Cause: consistently the Trump Org has a well documented history of intentionally misrepresenting the value of his golf courses when seeking insurance policies to insure his properties. At last count Trump has twelve golf courses in America, see Trump Golf Link. Trump’s full (global) portfolio of golf courses stands at nineteen.
Effect: Setting aside Trump’s potential insurance fraud scheme, which is also well documented, lest we forget in 2005 Trump’s Mar-A-Largo, he received a whopping $17 million insurance payout, for a hurricane that meteorologists all agreed never occurred. See the AP’s report here. Which potentially means other insurers might be paying higher premiums while Trump laughs all the way to the bank.
Effect A: the fact is a cursory search of the Palm Beach County, FL building permit database and property records database, at no time did Trump or his business entity file the required building permits to cover the $17 million insurance payout. Here take a look for yourselves, PBFL public records link
Effect B: in a 2007 Deposition, this was the lawsuit where Trump sued Author & Journalist Tim O’Brein, who had reported that Trump was not as wealthy as he purported to be. I now refer you to pages 352 thru 357, respectively. Link to the 2007 Deposition can be found here.
Cause: Rep AOC is actually correct, the “giveaways” to the Trump Org and how Trump leverages State and Local Taxes (SALT) “incentives”. A few things to remember about Trump Golf Links at Ferry Point, Bronx NY - at the time then Mayor Bloomberg was repeatedly warned by the NYC Independent Budget Office, that Trump’s private/public partnership would leave the tax payers with a hefty burden. (see 2014 N.Y. Post archived article) Not only the capital investment of building this money put, which cost NYC some >$236million. This golf course has the distinguished honor of being THE most expensive golf course built.
Effect: if you are a NYC resident/tax payer not only did you fund a quarter billion dollars for Ferry Point, which means that $236+million diverted funds away from public education, roads, first responders, and other various public services. If you want to play at Trump’s Ferry Point, NY...
BUT here’s what the NYC Parks & Rec nor the Trump Organization will tell you, that $185 weekend green fee is approximately four times more than any other public golf course fees, in the Country. True story sometimes on my lunch break I go to a driving range. When I’m confronted with writer’s block or I’m just generally frustrated with first years, weather permitting I like to spend my lunch “smacking a bucket of balls”...it’s a thing, don’t judge me /snort
Full disclosure: I can not tell you how I became in possession of this 2016 Trump Golf Links, Ferry Point balance sheet. Someone whom I vetted trusted me that I would protect their anonymity and knew that I would carefully vet this document. It is publicly available, it just a bit arduous to find. Essentially in 2016 Trump made $1.45+million and not a single penny of that pure profit went back in to the coffers of NYC. That should give you serious pause. Trump’s Golf Links at Ferry Point is a case study in the corruption of private/public partnerships. The people who lose are the tax payers while the business unjustly enriches itself, over the lifespan of said contract or in this case the lease, Trump .Org profits to the tune of hundreds of millions of dollars and not a single penny goes back to the tax payers, who initially funded the venture.
The notion that Donald J Trump or Trump Org are upstanding entities that pay their fair share in SALTs is completel and utter bullshit. This man and his company is a shameless huckster. He and his grotesque family are in fact laughing ALL the way to the bank. The real tragedy is if you live in a City, or County or State where Donald Trump has commercial property you are getting screwed. He does NOT nor has he ever paid his share of taxes, this is applicable to both SALT and Fed Taxes.
The man is a lying snake-oil selling mobbed up conman.
For example in the State of New York, they have a unified judicial database, it’s colloquially known as S.C.R.O.L.L. if you have a case index number you can essentially download the entire docket(s) at zero cost. Or you can simply run a search, found here. At the present time this database has >239 cases of which I’ve determined >119 are legal filings by the Trump .Org petitioning the Tax Assessor or the Board of Equalization to lower his commercial tax load.
Furthermore this isn’t secular to Trump’s NY business portfolio.
Trump Chicago, IL
Trump owns 401 N Wabash you can read my previous entry here. See my archived November 2018 twitter thread here and here I never understood why when Alderman Burke’s offices were raided late last year, the media widely reported, I would submit to you that the media was wrong. Or the various reporters did not know how or where to go to the Cook’s County’s Tax Assessor’s Office and pulldown Trump’s 401 N Wabash appeal and here
(full disclosure you need to use the drop down menu)
To understand how the disproportionate tax burden is (arguably) unfairly shifts the burden from quasi wealthy developers like Donald Trump & Kushner Companies and how their over utilization of various tax loopholes (that are not available to everyday people like you and me) you’ll want to read this February 2018 Civic Cunsulting Report, which was prepared for Cook County IL. Admittedly this report was ia very interesting read. But then again I personally enjoy well researched and sourced data. Notwithstanding in some respects their report affirms my assertions that those who are of substantial wealth often rarely pay their fair share. Which means everyday Americans like you and me...our dollar is stretched and budgets:
CCA has found that the residential assessment system is more variable and more regressive than agreed upon industry standards, causing a wealth transfer from owners of lower-value homes to those of higher-value homes. The assessment process has met the standard that the bills be completed on time for the past six years, and the system appears to be in compliance with the requirement that residential assessments are at 10% of market value.
For now I’m going to set this project aside and go spend some quality face time with my family. Apparently we are going to get 8” of snow in the next 36 hours which means Spicy needs to run to Wegman’s and obtain provisions for possibly being snowed in for an hour..../snort -🌶xo xo SpicyFiles.
ps tomorrow I plan on doing a much deeper dive into Trump’s NY, NJ, VA and FL golf courses. I had to download a lot of dockets and I haven’t finished reading them. However Trump’s Florida Golf courses...I went all the way back to 1998ish for financing...case in point circa 2004 Textron Financial announcement see archive
As I was elbows deep in the Westchester Property Database because I was research the multimillion bag Trump left the tax payers of Ossining with. He sued, the Town countersued and Trump sued again. Trump literally pushed this tiny town to the brink of financial ruin. The means in which Trump has made this vast fortune while screwing the little guy and laughing all the way to the bank, meanwhile local tax payers end up paying the brunt of Trump’s tax fraud.
Trump has cost the local tax payers in two tiny town/villages BIGLY
DEMANDING a lower assessed values
...it’s disgusting like TAX CHEAT Disgusting
While you're here, throw us a bone.
Mad Dog is thrilled to have Spicy in our PAC(k). We are proud to provide a space for her tireless, hard hitting, in-depth investigations. But we can’t do it without you.
Our numbers are growing. Our voices are being heard. Our campaigns are making a difference. Help us, and Spicy, continue to fight the good fight. Consider a donation to help support the work of Mad Dog PAC today.