Quote:
Originally Posted by the_real_Barleycorn
Imagine if Lieutenant Obama was trying to get a security clearance with his friends and history.
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Depends on the level. He could get the lower rungs, but I think he'd struggle at the higher rungs.
I'd have to reread the article, but I believe NYT touched on the fact that in order to have the liquidity to cover those debts, he would have to offload a few properties.. as some of his are already leveraged to the hilt. Not that he couldn't do that.. just that it takes a little effort and time to find buyers at that level.
Pelosi choosing that aspect to grab onto shows she isn't very knowledgeable about tax law. The most interesting aspect of everything is... what he claimed in 2017. He would have lost some of the eligible deductions he had utilized for years due to his position as POTUS. A few real estate based deductions require affirming that you worked in the industry a minimum of 750 hours for the year.. AND that there was no other job that you worked more. This same issue was also touched on when he began The Apprentice-- but he could show that even when he was working on that show, his work still tied in enough to his REI activities. But as POTUS? That would mean either admitting he wasn't eligible.. or admitting that he's still working his private job more than he is working as POTUS. Both scenarios are problematic.
But ultimately-- lets not pretend that Trump fires up TurboTax every April. He has experts do all that. All he does is sign. While he could absolutely face civil penalties if he claimed deductions he was not eligible for-- he won't face any kind of criminal penalty. Its doubtful he did anything other than sign, putting full trust in the experts he hires to handle his accounting. Its not like he's Joe Q Citizen, claiming random deductions on Turbo Tax.
Realky
