馃攳
Trump Is Lying About His Net Worth - YouTube
Channel: unknown
[2]
[Music]
[4]
that'll trump for a long time as part of
[6]
his personal branding put out these sort
[9]
of semi formal financial disclosures and
[12]
it was designed so that when getting
[15]
loans or doing business and things like
[16]
that people would be reassured that he
[19]
has resources that his name is worth
[21]
something that he has real estate and
[23]
things like that and it turns out that
[25]
in many of these he was a little bit
[28]
loose with the facts in some sometimes
[30]
very funny ways and so let's talk about
[32]
some specific ones so he gave a
[33]
financial statement in 2011 that said
[36]
they had 55 home Lots to sell at his
[38]
Golf Course in Southern California those
[40]
Lots would sell for three million
[41]
dollars or more each the statement said
[43]
but Trump had only 31 Lots zoned and
[46]
ready for sale to course according to
[47]
city records he claimed credit for 24
[50]
Lots and at least 72 million dollars in
[52]
future revenue that he didn't have so it
[55]
is possible that you could accidentally
[57]
slip up and write the wrong number but
[59]
that was a significant additional number
[62]
of Lots that didn't exist in that there
[64]
were no plans for us we have other
[66]
examples of this but feel free to jump
[68]
in initially yeah it is it's very
[70]
frustrating in this situation because
[72]
like if you are applying for any kind of
[74]
financial loan bisily not even business
[78]
but like some kind of loan and financial
[80]
you know apparatus you would have to
[82]
give accurate information yeah like you
[84]
would and also like when you're doing
[86]
tax you're doing your tax return and
[88]
everything you hat you can sometimes say
[90]
like I spent let's say you spent $800 on
[92]
like your phone bill and you work in
[94]
FERC you know you do have at home
[96]
business where you use the phone a lot
[97]
you would say I paint spend about 900
[100]
bucks I don't know you can round up that
[102]
way yeah you cannot miss that buy
[104]
millions of dollars and in make up
[108]
things that don't exist
[109]
yeah let's talk about making up some
[111]
things that don't exist so he claimed
[113]
that his vineyard in Virginia had 2,000
[115]
acres when it really has about 1200 so
[117]
that's almost doubling its size the
[121]
funniest example though is that he said
[123]
that Trump Tower has 68 stories it has
[125]
58 so we added 10 stories to it to make
[128]
it more impressive it just loved that so
[132]
let's talk about some more space
[133]
Vixen 2011 statement said that Trump's
[136]
Seven Springs estate in Westchester
[137]
County New York was quote zoned for nine
[140]
luxurious homes in a statement Trump
[142]
said those homes would yield significant
[143]
cash flow as he built them and sold them
[145]
that led him to value the property at
[147]
261 million dollars local Assessor is
[150]
valued at 20 million dollars which is
[153]
off by a little bit or 241 million
[158]
dollars
[158]
many many times wrong there what's
[162]
interesting here I want to be very clear
[163]
about these sorts of MIS statements not
[166]
connected to particular loans or
[167]
anything like that is he didn't
[169]
necessarily break the law by like I
[172]
don't want to use the word fraud
[174]
necessarily but obviously lying about
[176]
his financial Worth and there's not
[178]
necessarily any reason to believe that
[179]
he will have any consequences apparently
[182]
financial legal experts say that they
[183]
would have to be shown that he was
[185]
intentionally misleading people and that
[187]
these misstatements caused people to
[189]
give him some sort of financial benefit
[191]
of course that is the purpose of the
[194]
statements it just needs to be shown
[196]
that they actually did that but like
[197]
that's the whole like art of the lie for
[201]
Donald Trump
[202]
it's finding enough of like a random
[206]
dust cloud you can kick up around the
[208]
truth that nothing matters anymore so
[210]
it's not a financial statement it's not
[212]
an official like tax return it is some
[216]
kind of you create terms like statement
[219]
of financial whatever so that you can
[221]
get away with yeah
[223]
not actually breaking the law which when
[226]
you're talking about like tax policy ad
[229]
during some kind of rally there is this
[232]
instinct that a lot of people have where
[234]
Donald Trump taps into it and he says
[236]
essentially like hey I use tax loopholes
[240]
because taxes are stupid and people get
[243]
that but at the same time he is
[247]
defrauding the taxpayer and I think it's
[249]
very important with the Democratic
[251]
messaging around things like this this
[252]
is just another little you know arrow in
[255]
your quiver to say that this guy isn't
[256]
just defrauding the tax system he's
[259]
defrauding you because as aoc pointed
[262]
out and a lot of other people pointed
[263]
out he is using lies like this one too
[267]
just get out of paying taxes but he uses
[269]
lies like this one to get government
[272]
subsidies to build his golf courses that
[274]
you don't get to use so you are paying
[276]
his taxes he's not he's part of the
[279]
swamp that's defrauding you exactly yeah
[281]
yeah it's one thing to point out in the
[283]
abstract that people are getting away
[284]
with murder that extremely rich people
[286]
are benefiting in a bunch of different
[287]
ways but that doesn't mean there's no
[289]
reason that we should be hands-off with
[291]
particular examples of it especially
[293]
when they're amongst the richest most
[294]
well-connected people in our country
[296]
maybe not richest in this case but he
[298]
certainly has a lot of connections so
[300]
sort of on the opposite end of the
[301]
spectrum he also left off to hotels and
[305]
now understand in all these other
[306]
examples he was pretending he had more
[308]
stuff than he did in this case he left
[309]
two hotels off in Chicago and Las Vegas
[312]
so why well both buildings were carrying
[315]
mortgages and that omission means that
[316]
some of trumps actual debt load was
[318]
hidden from anyone reading the statement
[320]
now that again in the abstract not
[322]
necessarily a huge problem for him
[324]
especially when you bear in mind that
[326]
the people who put these documents
[327]
together for him would put little
[329]
warnings on it that said things like
[331]
users of this financial statement should
[333]
recognize that they might reach
[335]
different conclusions about the
[336]
financial condition of Donald J Trump if
[338]
they had more information like the
[340]
information we're purposefully leaving
[342]
out for instance so what's the point of
[344]
you sharing this like what do you seek
[346]
by pointing this out yes well what I
[348]
would say is that in all of these cases
[350]
we don't necessarily have a connection
[353]
between this stuff and getting like an
[356]
insurance payment or getting a loan
[357]
based on fraud but that doesn't mean
[360]
that they aren't there and one of the
[361]
reasons I think it's important to point
[363]
out all of the cases where he was lying
[364]
about these sorts of things is that we
[366]
have other cases where it is connected
[367]
with him getting payments so AOC raised
[370]
concerns about him sort of dynamically
[373]
altering the value of properties to get
[375]
tax and tax benefits on the insurance
[378]
side we talked earlier this month about
[380]
how Donald Trump received 17 million
[382]
dollars in insurance payments in 2005
[385]
for hurricane damage tomorrow Lago and
[387]
we broke down that there's no evidence
[389]
that more than a few thousand dollars of
[390]
damage was actually done to it so he was
[392]
able to lie to get millions of dollars
[395]
from the insurance company now these are
[397]
actually theoretically crimes if they
[399]
could be proven in a court
[400]
and the rest of this is fodder that
[402]
could potentially generate the exact
[404]
same sorts of issues for them right the
[406]
part of the politics around this is
[408]
there is this instinct that a lot of
[410]
people have it's like screw the
[411]
government
[412]
screw taxes mm-hmm the difficulty is to
[415]
convince them that like Trump is the
[417]
problem and he is well for many people
[420]
this might not be the principal problem
[422]
of Trump there's a lot of other ways
[423]
he's a more direct problem for them and
[425]
right but I don't like it when rich
[426]
people break the law and right now it's
[428]
April and April is tax time and I'm not
[431]
saying that these are directly connected
[433]
taxable publish this and they know but
[435]
I'm just saying like now is the time to
[436]
look around at people who are having to
[438]
pay their tax bills and who and to see
[441]
if they've adjusted they've been already
[443]
accused of like you guys just don't know
[445]
enough about the tax system to have the
[446]
right amount of withholding that's why
[447]
last year you had to pay extra they're
[449]
gonna have to do it again and I just
[453]
really sincerely hope that it gets
[455]
through to people this second time
[457]
around that the tax cuts were not for
[459]
you mm-hmm they were I think that
[460]
they're getting that yeah as many of
[462]
them have to pay this time around thank
[468]
you very much for watching this clip
[470]
from the damage report if you liked it
[471]
don't forget to subscribe to this
[472]
channel and ring the bell on youtube to
[474]
get notifications of our new videos and
[476]
of course you can catch the full damage
[477]
report live every weekday at 1 p.m.
[480]
Eastern 10 a.m. Pacific on TYT network
[483]
on youtube TV
Most Recent Videos:
You can go back to the homepage right here: Homepage