This is a very fascinating article. Is trump worth 200 million in actual value, claiming his name is worth nearly ten billion, and hiding his taxes because his income is only 500k a year? I said this when he didn't release them - I said it was likely a low number he didn't want people to know about. and in his own words, trump went from 8 to 'over ten billion' this year alone. I don't think people who actually have 8 billion dollars will claim it to be 8 billion.
Three times, Trump has taken a property tax break which can only be taken by those making under 500k. Three times, he's proven it to the state's satisfaction. THis article doesn't prove anything - BUT the vigorous defense of "nuh-un, Trump makes WAY more!" is a little odd.
I think trump, like that famous analysis article said, it worth less than a billion. He didn't gain 2 bil this year as he claimed. I don't claim I know it to be true - I think these financial experts will deduce the truth eventually.
http://talkingpointsmemo.com/edblog/wait-what--8Some clever sleuthing by Crain's New York Business reveals that Mr Trump, as members of the entourage call him, qualified for a tax break that requires your income be less than $500,000 a year. Yes, if you make more than half a million dollars a year, you can't qualify. But Trump did qualify.
So here's the story. New York state has something called the Star program, the New York State School Tax Relief Program. For a married homeowner to qualify your income needs to be less than $500,000 a year. The benefit itself is pretty measly for a real high roller - just a $302 break on Trump's penthouse apartment in Trump Tower.
How did Crain's find this out if Trump hasn't released his taxes?
Check out the Crain's piece to get the full details. But the gist is that it shows up on property tax records with New York City. (If it were most publications I'd figure they didn't understand something about the tax code. But this is one of New York's premier business and real estate news publications. I doubt it's a dumb error on their part.)
