How a Tax Break to Help the Poor Went to NBA Owner Dan Gilbert

[turbinetree]

Last edited Sun Oct 27, 2019, 11:12 AM - Edit history (1)

I know this is two days old............................but he is a vulture capitalist, he really is ......................

After a lobbying effort, Dan Gilbert, billionaire founder of Quicken Loans, won special tax status for wealthy areas of downtown Detroit where he owns billions worth of property.

by Jeff Ernsthausen and Justin Elliott Oct. 24, 2:10 p.m. EDT

Billionaire Dan Gilbert has spent the last decade buying up buildings in downtown Detroit, amassing nearly 100 properties and so completely dominating the area, it’s known as Gilbertville. In the last few years, Gilbert, the 57-year-old founder of Quicken Loans and owner of the Cleveland Cavaliers, has also grown close to the Trump family.

Quicken gave $750,000 to Trump’s inaugural fund. Gilbert has built a relationship with Ivanka Trump, who appeared at one of his Detroit buildings in 2017 for a panel discussion with him. And, last year, he watched the midterm election returns at the White House with President Donald Trump himself, who has called Gilbert “a great friend.”

Gilbert’s cultivation of the Trump family appears to have paid off: Three swaths of downtown Detroit were selected as opportunity zones under the Trump tax law, extending a valuable tax break to Gilbert’s real estate empire.

Gilbert’s relationship with the White House helped him win his desired tax break, an email obtained by ProPublica suggests. In February 2018, as the selection process was underway, a top Michigan economic development official asked her colleague to call Quicken’s executive vice president for government affairs about opportunity zones.

https://www.propublica.org/article/how-a-tax-break-to-help-the-poor-went-to-nba-owner-dan-gilbert

And lets not forget he was on sixty minutes and was given a big hoopla....................and why do I think he is the modern version of Its a Wonderful Life when he is old man Potter was jerk to George...............................

[Hermit-The-Prog]

1. it's grifters and corruption all the way down