A New Low For New York Attorney General Letitia James

Manhattan Contrarian ^ | 21 Sep, 2022 | Francis Menton

[1Old Pro]

Her (Letitia James) taxes became an issue after Crains reported earlier this year that James, who currently serves on the City Council, failed to report rental income on her financial disclosure forms. Last night, Squadron said James “hid” the fact she was a landlord, and “failed” to share that information with constituents and prospective voters during the race. The property James owns is located on Lafayette Avenue and is described on her tax returns as a “multi-family residence.” She reported collecting $44,000 in rent, and using some of that money to pay the mortgage on the property, which last year cost more than $18,000. The property also suffered $13,773 in “depreciation expenses or depletion.” James also claims $14,257 in a tax break for the property (“Special Allowance for Rental Real Estate Activities with Active Participation”).

I wonder how that depletion was calculated, did she overstate it to pay less taxes??

[atc23]

We’ve got to stop making sacred cows out of these black female public office holders. I have no idea who’s voting for them. Likely their biggest supporters are emotionally crippled, psychotic leftist, moneyed, leftist white women, militant white feminists and lesbians

[Brian Griffin]

Trump looks at the long-term cash out prospects of a property.

That is what he is concerned with, and is what the banks should be concerned with.

When I buy stock, I care about its future value. I only buy if I can buy at significantly less than likely future value.

[Attention Surplus Disorder]

Do black womyn get those quotes around “hid” and “failed”? I guess so.

[Tallguy]

Exactly. Trump may indeed have overvalued the properties used as loan collateral. But it should be remembered that the bankers essentially agreed to those valuations or there would have been no loans/credits extended. Does AG James’ brief extend to enforcement of banking regulations? Maybe so, but this isn’t a criminal indictment.

[Brian Griffin]

Every year I get a real estate assessment notice followed by a real estate tax bill.

The assessed value is usually of the property if it has to be sold quickly for cash to a Mr. Potter type guy.

These assessed values are the values the banks should base their lending on.

It may take Trump years to bring a building to its highest potential and sell it off.

[skeeter]

They’ve got legions of slime supporting them, apparently.

Whats more is Letitia counts herself among the most violent and angry subgroup in the nation, if not on the planet. Why else would anyone want her in a position of authority of any kind?

[Brian Griffin]

When you deal with Trump, you get the whole package: his vision, his vigor & vitality, and a lot of puffery.

https://en.wikipedia.org/wiki/Puffery

If a bank lent to somebody else, it would be at the same building purchase price, but without the tremendous Trump upside potential.

[Flick Lives]

Tucker “suggested” last night on his show that she didn’t pay taxes, hmmm, perhaps some insider info.

—

That would be oh so typical of a Leftist.

[1Old Pro]

That would be oh so typical of a Leftist.

Once she is out of government I would love to see her sued for some ridiculous civil charge and bankrupt her. Only that would teach these people a lesson.

[deport]

$15,000 needed .. Receipts & Pledges to-date: $65,085
81%
WOO HOO!! We’re now over 81%!! Thank you all very much!! God bless.

7 DAYS LEFT........

https://freerepublic.com/donate/

[vetvetdoug]

The only way all of this abuse of power will be stopped is by a double tap.

[Vaduz]

Spot on