General Discussion
In reply to the discussion: Some words from Post re: Hunter Biden's alleged crimes . . . [View all]SunSeeker
(51,815 posts)Trumps fraud is not just the essesssor's problem, Trump's tax fraud steals from all of us. When Trump is not paying his fair share of taxes, he is forcing us lower net worth taxpayers to carry a greater share of the tax burden. That is horribly unfair.
Tax assessors have limited resources and can only do so much "due diligence." That is why tax fraud penalties have such steep penalties. A strong deterence is needed because our tax collection system would fall apart if everyone lied like Trump.
Same with loan fraud. Misrepresentations in Trump company financial statements shortchanged banks by millions of dollars. In relying on Trump's exaggerations, Deutsche Bank lost out on $168 million in interest payments they would have otherwise charged him between 2014 and 2023. Deutsch Bank did do their due diligence, but they expect "clients provided information to be accurate. Its not an industry standard that these statements be audited.
https://thehill.com/regulation/court-battles/4336186-trump-defense-bankers-business-dealings-victim/
But it is not just "THEIR problem" as you and Trump assert. As Letitia James explained to reporters, Trump's banks crimes are not victimless. "When the well-connected and powerful break the law to get more money than they are entitled to, it reduces resources available to working people, small businesses, and taxpayers." https://www.businessinsider.com/donald-trump-rages-outside-fraud-trial-factcheck-2023-12
That is why bank fraud is a felony.
It really is stunning to see you continue to defend Trump with his own incorrect talking points.