As more information is revealed about Donald Trump’s financial situation, it is becoming apparent that the Republican front-runner has been less than truthful about his wealth. While he has boasted incessantly his $3 billion fortune, it was revealed recently that he recently received a tax break that is only available to people who make less than $500,000 annually, reports PoliticusUSA.
Aaron Elstein of Crain’s New York, the original source that revealed Trump’s actual worth, wrote regarding this new information:
‘Here’s where it gets interesting for Trump: To be eligible for STAR, a married couple must have annual income of $500,000 or less. One wouldn’t think a guy as rich as Trump claims to be would qualify, but records filed with the city’s Department of Finance show he received a $302 STAR benefit on his latest property-tax bill for his Trump Tower penthouse on Fifth Avenue.
That means whatever his annual income is, it’s less than $500,000. (The state defines income for STAR purposes as federal adjusted gross income minus the taxable amount of total distributions from annuities or individual retirement accounts.) And Trump would have to have declared his New York apartment as his primary residence and sent the state a copy of his federal income-tax return in order to qualify for the $302 tax break.’
Although Trump’s campaign manager, Corey Lewandowski, said the tax benefit was “an error on the part of the city of New York” and claimed that Trump hadn’t asked for the benefit since 2009, the New York Finance Department insists that it check every year to ensure that STAR benefit applicants actually have the income they claim to have. And who’s more trustworthy? Someone who works for Donald Trump, or a city official? We’re going to take our chances and err on the side of the city officials.
It should be noted that Trump probably makes more than $500,000 a year. A lot of his money comes from the property he owns, as well as from licensing agreements. But, as Elstein said, “that sort of wealth is quite different from having a lot of cash.”
Donald Trump has quite the history of lying to the American people. Yet, for some incomprehensible reason, the people are still coming out in droves to support him. Will things change when they realize that the man who has been luring people in with his claims of great wealth is, in reality, certainly not poor, but also several millions short of being an actual billionaire? We’ll just have to wait and see.
As of late, Mitt Romney has been making it his mission to take down Donald Trump. In the video below, courtesy of The Young Turks via YouTube, Mitt Romney attacks Trump about his questionable tax returns.