September 17, 2016

HE'S THE PERFECT TEA PARTY SPOKESMAN...:

A Trump Empire Built on Inside Connections and $885 Million in Tax Breaks (CHARLES V. BAGLISEPT. 17, 2016, NY Times)

[T]hat book, and numerous interviews over the years, make little mention of a crucial factor in getting the hotel built: an extraordinary 40-year tax break that has cost New York City $360 million to date in forgiven, or uncollected, taxes, with four years still to run, on a property that cost only $120 million to build in 1980.

The project set the pattern for Mr. Trump's New York career: He used his father's, and, later, his own, extensive political connections, and relied on a huge amount of assistance from the government and taxpayers in the form of tax breaks, grants and incentives to benefit the 15 buildings at the core of his Manhattan real estate empire.

Since then, Mr. Trump has reaped at least $885 million in tax breaks, grants and other subsidies for luxury apartments, hotels and office buildings in New York, according to city tax, housing and finance records. The subsidies helped him lower his own costs and sell apartments at higher prices because of their reduced taxes.

...a wealthy old white male on welfare...

Posted by at September 17, 2016 5:09 PM

  

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