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Trump overstated net worth by up to $3.6 billion per year, NY AG alleges in new filing (lemmy.world)

submitted 1 year ago by DevCat@lemmy.world to c/usa@lemmy.ml

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Former President Donald Trump’s net worth was inflated by billions of dollars more than what the New York attorney general’s office recently believed to be the case, the AG said in a new court filing Friday.

Citing an analysis by valuation and accounting experts and taking into account other adjustments, the AG alleged that Trump’s net worth in any given year between 2011 and 2021 was overstated by $1.9 billion to $3.6 billion.

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[–] jordanlund@lemmy.one 10 points 1 year ago (1 children)

I'm sure he paid taxes on that inflated wealth too, right? ;)

[–] dubba@lemm.ee 4 points 1 year ago

In most cases, income is taxed, not wealth; property tax is an exception to this rule.