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jeveret t1_j2wj68e wrote

Reply to comment by johnsonutah in Westfield Trumbull mall sold as part of deal worth $196 million by jaydecay123

Could be some kinda tax scam, basically say they would have to normally pay 100 million in taxes, so instead they buy a crappy mall/investment say they lost 100million. Now they pay $0 in taxes and own a crappy mall they can do something with down the line, or next year say they somehow lost another $100 millions on it and not pay taxes that year also. Basically whatever they should pay in taxes they can just spend on any crazy/crappy investment and always end up ahead.

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DanHassler0 t1_j3232cu wrote

Interesting. I've always wondered how this company could possibly make any money. All of their assets will only drop in value as they become emptier and even abandoned. I always knew they were up to no good with money, this kinda makes sense.

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jeveret t1_j32u7gt wrote

It’s exactly what trump did. You use purchases of property like this to show how much wealth you have in order to convince other people or banks you are rich, so they will invest or lend you even more billions, then you turn around and use the exact same property/purchases to cry poor when you have to pay taxes or the investors back. This mall purchase can be used to say look it’s actually worth 400 million or to say look I’ve actually lost 400 million and all they did was use 200 million they borrowed from some bank or investor. And then off of that “investment” they borrow 600 million next time and just repeat forever. Eventually some of the purchases will pay off and you can claim genuine success on those. If they don’t you just pass the burden off to others.

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