John Stewart bashes Trump over overvaluing property in fraud case

[yabbayabba]

So now we find out how overvaluing your house can be (D)ifferent. If it wasn't for double standards than the p3do cult would have no standard at all.

[BeachPro11]

What did JS pay for the property boyo?

*hint, it's the assessed value*

Do you get credit toward your high school diploma for the schooling I just gave you?

HAHAHAHAHA

The issue is this. JS is being very hypocritical in going after Trump about this (which btw is ridiculous) while at the same time he was gaming the system himself. As anyone should. Why pay more taxes or more money to the govt when you are legally allowed to not have to in these types of situations?

JS sold his place for $18 M. However before he sold it, he was only paying taxes at a much lower valuation. The assessor records had it valued at the time around $1.9 M, and the rate he was ACTUALLY paying his property taxes was at an even lower assessor valuation of $850,000.

That is about a $16.5-17 M difference in real value and and assessed value.

So he was personally saving himself a ton of money by paying much lower property taxes....which again is fine. More power to him. But then don't turn around and call Trump a criminal for something that you basically just did yourself. In fact I would call what JS did much more 'criminal' that what DT did.

This is the issue that so many moderates and Republicans have with what the Dems are doing to Trump. That case never should have been brought and people can see that it is an obvious witch hunt. It is fake. Especially when Dems do the exact things they accuse the right of doing.

But it is backfiring big time on the Dems. You would think they would learn. But they don't.

[JUSA]

Except I explain why it's fake news.. not that's it's worth my time to explain it to you people.

Your time seems pretty cheap, other than using it to read more than 12 sentences, in which case it's even more than Stewart's home evaluation, apparently. Also very expensive when it comes to explaining anything, which you didn't, we asked and you said nothing. Sillie did and I gave him credit.

While I get it, a lot of posters here are fairly entrenched and enter a thread knowing nothing other than what side they will support no matter what, you should at least try. Some people are less biased and willing to listen.

Example: two of the last two debates I've been involved with, I listened to the other side of things and changed my position to theirs -- one even being a thread *I* created. Try being less entrenched and biased once, you might like it.

[fitnessislife]

The NY Post is fake news.

[SillieBazzillie]

The issue is this. JS is being very hypocritical in going after Trump about this (which btw is ridiculous) while at the same time he was gaming the system himself. As anyone should. Why pay more taxes or more money to the govt when you are legally allowed to not have to in these types of situations?

JS sold his place for $18 M. However before he sold it, he was only paying taxes at a much lower valuation. The assessor records had it valued at the time around $1.9 M, and the rate he was ACTUALLY paying his property taxes was at an even lower assessor valuation of $850,000.

That is about a $16.5-17 M difference in real value and and assessed value.

So he was personally saving himself a ton of money by paying much lower property taxes....which again is fine. More power to him. But then don't turn around and call Trump a criminal for something that you basically just did yourself. In fact I would call what JS did much more 'criminal' that what DT did.

This is the issue that so many moderates and Republicans have with what the Dems are doing to Trump. That case never should have been brought and people can see that it is an obvious witch hunt. It is fake. Especially when Dems do the exact things they accuse the right of doing.

But it is backfiring big time on the Dems. You would think they would learn. But they don't.

But to compare the two is silly. We don't ask the county or state to raise the value of our assessed house as it rises in value FFS. That happens by the state increasing the value or when we sell.

[KevinHarvick]

But to compare the two is silly. We don't ask the county or state to raise the value of our assessed house as it rises in value FFS. That happens by the state increasing the value or when we sell.

No one ask for that because they'll pay more taxes. It's like, higher taxes discourage people, weird. I also didn't know I could tell the bank the value of my property. That's nice to know.

[JUSA]

No one ask for that because they'll pay more taxes. It's like, higher taxes discourage people, weird. I also didn't know I could tell the bank the value of my property. That's nice to know.

I think it's very strange to buy something so cheap and so quickly turn it around for so much, and then 11 years pass and the new buyer is barely able to sell it for 1/2 of what he bought.

That... does not sound like a normal real estate transaction and seems very off -- but assuming he just found a sucker with too much money, maybe wined and dined him and star-powered his way into having some lib fan with more money than sense spend way too much -- nothing was wrong at all. In the Trump situation, which I think is bullchit and a political witch hunt, but at least with Trump there is the veneer of wrong-doing, Trump actually having done something (just, the same thing every single real estate investor likewise has done and will continue to do).

I can't fault JS for doing the sale but I am curious how or why it was such a cherry deal for him.

I mean, that poor fuk who bought it -- he paid taxes on the price he paid for it, that's usually how it works. Then lost his shirt when he finally dumped it 11 years later.

What an idiot? Who knows.

[ThePD]

Please tell me you Trump lovers aren't serious with this.

This was a private transaction between individuals vs Trump defrauding the bank and state. It's not even conceivably in the same ballpark unless you're either not bright or simply have your head up Trump's rear.

And btw boyos, when the penthouse sold, the new owner paid taxes on the NEW AMOUNT that he paid. Just like it always works.

You guys crack me up...SMH

Odd how the bank....who was apparently defrauded had zero issue with it and wants to continue to do business with said defrauder...

Not political at all...fvkin cultists

[BeachPro11]

But to compare the two is silly. We don't ask the county or state to raise the value of our assessed house as it rises in value FFS. That happens by the state increasing the value or when we sell.

Yeah but Trump paid the loan. He didn't pay less money then he should have. He paid it.

JS literally paid less money on his property taxes than he should have. He actually did pay less. He gamed and he won.

You are forgetting that the bank(s) who gave Trump loans did their own DD. They vetted him. Much more so than you or I would be. It wasn't like Trump walked into a car dealership and said here is $200 down....sell me this $25 K car using your finance company but don't credit check me at all. Just give me the loan.

He was completey and utterly vetted. The bank made the loan. He paid off said loan.

This entire thing is like something you would make up in a dream that IRL no one would believe.

And as I said, it is backfiring. To use your words....bigly.

[rampagefc77]

This article title is 100% misleading on purpose.

Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless

No, he sold his house and got market value - he has nothing to do with what it was assessed at, nor did he apply for loans claiming it was worth more.

The NY Post is 100% fake news.

So he undervalued when paying taxes and then inflated during a sale? Seems mighty similar, valuing a property to benefit you (up or down)

[JUSA]

So he undervalued when paying taxes and then inflated during a sale? Seems mighty similar, valuing a property to benefit you (up or down)

He bought it for a low price, which was negotiated b/w him and the buyer. Then, and this is strange and I'm not sure something weird is not going on, but he was able to flip it quickly and find a buyer to vastly overpay for it.

When he had it, I'm sure his taxes were based off the sale price when he bought it, if it works like it does in TX.

Trump, which btw -- I think it's a witch hunt and BS, him even being charged and then the insane fine, but what he did is technically wrong (I almost types a crime, but I don't think it's even that). It's bullchit, no question. It'd be like if they dug through video footage for 10 years and found one incident of Trump jaywalking and fined him $50,000 over it. Complete witch hunt and crap, BUT not like John Stewart.

Stewart, who honestly, if something comes out later about something odd/wrong/weird/anything with this sale I won't be surprised, because it's way more than reasonable what he was able to sell it for. Who thay buyer is and why they paid so much could be strange.

[leafs43]

The hypocrisy is 100% on brand for liberals.

[Jasonw1178]

Yeah but Trump paid the loan. He didn't pay less money then he should have. He paid it.

JS literally paid less money on his property taxes than he should have. He actually did pay less. He gamed and he won.

You are forgetting that the bank(s) who gave Trump loans did their own DD. They vetted him. Much more so than you or I would be. It wasn't like Trump walked into a car dealership and said here is $200 down....sell me this $25 K car using your finance company but don't credit check me at all. Just give me the loan.

He was completey and utterly vetted. The bank made the loan. He paid off said loan.

This entire thing is like something you would make up in a dream that IRL no one would believe.

And as I said, it is backfiring. To use your words....bigly.

This. The bank did their own appraisal and agreed with him. That part was not allowed in court. The prosecution did not have any official appraisals but using information that was really just a guess, and that was allowed in court.

The only way Trump would actually be guilty is if he say paid off the people appraising his properties to get them to say it was worth more than it was or something like that, but that didn't happen.

[NitrogenWidget]

He bought it for a low price, which was negotiated b/w him and the buyer. Then, and this is strange and I'm not sure something weird is not going on, but he was able to flip it quickly and find a buyer to vastly overpay for it.

When he had it, I'm sure his taxes were based off the sale price when he bought it, if it works like it does in TX.

Trump, which btw -- I think it's a witch hunt and BS, him even being charged and then the insane fine, but what he did is technically wrong (I almost types a crime, but I don't think it's even that). It's bullchit, no question. It'd be like if they dug through video footage for 10 years and found one incident of Trump jaywalking and fined him $50,000 over it. Complete witch hunt and crap, BUT not like John Stewart.

Stewart, who honestly, if something comes out later about something odd/wrong/weird/anything with this sale I won't be surprised, because it's way more than reasonable what he was able to sell it for. Who thay buyer is and why they paid so much could be strange.

who did he buy it from that it was so cheap?

[BeachPro11]

who did he buy it from that it was so cheap?

It doesn't really make any sense. Assessed value at $850 K but sell it for $17 M a few years later?

In what world does that happen?

[HaiMeesk]

It doesn't really make any sense. Assessed value at $850 K but sell it for $17 M a few years later?

In what world does that happen?

When...
- your brother is head of the NY Stock Exchange
- your former college roommate is a sitting US congressman from NY
- you serve the sitting US president with lockstep loyalty by conducting smear campaigns on their behalf against anyone who criticizes them

SRS imagine Obama getting dragged into this lol

[uneducated]

Jon Stewart may be a rich asshorl, but he isn't a former president. "Every rich asshorl frauds on their taxes" is not a defense. We have laws. They go after poor people for frauding on welfare. They should go after every rich piece of chit. No exceptions.

[uneducated]

He bought it for a low price, which was negotiated b/w him and the buyer. Then, and this is strange and I'm not sure something weird is not going on, but he was able to flip it quickly and find a buyer to vastly overpay for it.

When he had it, I'm sure his taxes were based off the sale price when he bought it, if it works like it does in TX.

Trump, which btw -- I think it's a witch hunt and BS, him even being charged and then the insane fine, but what he did is technically wrong (I almost types a crime, but I don't think it's even that). It's bullchit, no question. It'd be like if they dug through video footage for 10 years and found one incident of Trump jaywalking and fined him $50,000 over it. Complete witch hunt and crap, BUT not like John Stewart.

Stewart, who honestly, if something comes out later about something odd/wrong/weird/anything with this sale I won't be surprised, because it's way more than reasonable what he was able to sell it for. Who thay buyer is and why they paid so much could be strange.

The word crime is correct. It was fraud. End of discussion. People seem shocked that American elites fraud on taxes. Moon lands on fuking man. Nobody should get a pass for anything. Also, Stewart didn't commit fraud on any loan here like Trump did.

[Irezumi]

Isn't it amazing how they so easily fall for alt right talking points while giving zero thought to the actual issue being discussed.

Unbelievable.

Lol...yeah those idiots are always accusing you for being racist to derail the topic or telling you how you're committing genocide if you have genuine concerns for children being sexualized. Not to mention how they literally foam at the mouth when you attempt to define what a woman is. Bunch of ignorant cult followers I tell you. I'm sure glad we can live together in our ivory tower and look down on those immoral bigots for actually not being completely obedient to our views.

[JUSA]

The word crime is correct. It was fraud. End of discussion. People seem shocked that American elites fraud on taxes. Moon lands on fuking man. Nobody should get a pass for anything.

I wasn't following the trial, is it true the banks were not allowed to testify that they were fine with the evaluations? Do we know for sure he was truly grossly inflating the value of the properties?

[BeachPro11]

I have a feeling that JS going after Trump, after what we found out about JS's own real estate sale, is about to backfire on him.

He literally did not pay $100s of thousands in property taxes based on his assessed value to what he sold his property for....all within the same time period.

[uneducated]

I wasn't following the trial, is it true the banks were not allowed to testify that they were fine with the evaluations? Do we know for sure he was truly grossly inflating the value of the properties?

https://www.nytimes.com/2023/11/29/n...sche-bank.html

Not exactly. They actually testified that the overvaluation was not material to the loan. But the overvaluation itself was still an act of fraud. It was not legally required for the bank to claim injury. Yes, he did grossly inflate the value of his properties. This particular case selection IS singling him out since many other wealthy chitbags do this, but he did commit a crime. And he's been indicted on 91 criminal charges as well.

If you want to better understand the charges, I recommend reading "The Trump Indictments: The Historic Charging Documents With Commentary" by Melissa Murray and Andrew Weissman.

[HaiMeesk]

I have a feeling that JS going after Trump, after what we found out about JS's own real estate sale, is about to backfire on him.

He literally did not pay $100s of thousands in property taxes based on his assessed value to what he sold his property for....all within the same time period.

Not just him but likely others within his social circle, whether they be political, wall street, or entertainment figures. If he were to be investigated, he would likely be found to not be the only perp in this scam.

[Seatard]

I have a feeling that JS going after Trump, after what we found out about JS's own real estate sale, is about to backfire on him.

He literally did not pay $100s of thousands in property taxes based on his assessed value to what he sold his property for....all within the same time period.

Trump's issue was dicking with valuations of his business assets, by falsifying business records, which under NY law is illegal.

It has absolutely nothing to do property taxes assessed on personal property, Stewart was under no obligation to maintain Statements of Financial Condition or provide annual valuations of his property to calculate corporate income tax.

This thread is bonkers.

[BeachPro11]

Trump's issue was dicking with valuations of his business assets, by falsifying business records, which under NY law is illegal.

It has absolutely nothing to do property taxes assessed on personal property, Stewart was under no obligation to maintain Statements of Financial Condition or provide annual valuations of his property to calculate corporate income tax.

This thread is bonkers.

I have already said that JS was fine in what he did as far as legalities.

I also think he is going to see a tremendous backlash when he did the same as Trump did (for all intents and purposes), and yet called Trump a criminal and went public about it.

Pure hypocrite.

And no Trump did not falsify anything. He did the same as any businessman in that state and city has always done. Used the loopholes available.

The fact that he was 'gone after' was a witch hunt. Any other person in America would have not had the same happen.

[HaiMeesk]

It has absolutely nothing to do property taxes assessed on personal property, Stewart was under no obligation to maintain Statements of Financial Condition or provide annual valuations of his property to calculate corporate income tax.

If Stewart wasn't obligated, who was? We're also not talking about slightly off miscalculated valuations here.

[NYPat]

ITT Trumpers don't understand how assessments work.

Let's dumb it down a bit... Stewart did nothing illegal and Trump did.

There is no hypocrisy, and the trash NY Post knows this. Wonder why they ran the story anyway?

[uneducated]

ITT Trumpers don't understand how assessments work.

Let's dumb it down a bit... Stewart did nothing illegal and Trump did.

There is no hypocrisy, and the trash NY Post knows this. Wonder why they ran the story anyway?

pretty much

[Seatard]

If Stewart wasn't obligated, who was? We're also not talking about slightly off miscalculated valuations here.

For me, it’s the county assessors office. There are dozens, maybe hundreds if you figure all the combinations of usage and zoning exemptions, of different methods across the country for assessing properties for calculating property tax.

You’d have to look at the local laws to see if they even attempt to correlate assessed value with market value before saying any differences were the result of miscalculations.

And again, none of this has anything to do with the rules and regulations of operating a business in NY State.

[HaiMeesk]

For me, it’s the county assessors office. There are dozens, maybe hundreds if you figure all the combinations of usage and zoning exemptions, of different methods across the country for assessing properties for calculating property tax.

You’d have to look at the local laws to see if they even attempt to correlate assessed value with market value before saying any differences were the result of miscalculations.

And again, none of this has anything to do with the rules and regulations of operating a business in NY State.

It's still pretty sketchy. Even if the assessment was on the level, the transaction certainly was not then. Taking into account Stewart's own connections with people in power and this appearing to be an 800% short-term profit, this would be more than just a Jon Stewart thing. There would have to be more people involved on a property deal that absurd.