Donald Trump has no idea how to post bond in the fraud trial—and he’s absolutely losing it.

Donald Trump has no idea how to post bond in the fraud trial—and he’s absolutely losing it.

In just shy of a week, Donald Trump’s $454 million judgment from his New York bank fraud trial will become collectible, either by way of liquid cash or financial assets—and it has officially sent Trump into meltdown mode.

The notoriously sleep-deprived GOP presidential nominee spent the better part of Monday night shouting into the void about the massive, half-billion-dollar judgment and his apparent inability to pay it off, bemoaning being required to follow the law before being allowed to appeal the case.

“I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!” Trump posted Tuesday morning.

“I shouldn’t have to put up any money, being forced by the Corrupt Judge and AG, until the end of the appeal. That’s the way system works!” he added, forgetting that he’s being held to the same standards as every private citizen.

  • xmunk@sh.itjust.works
    0·
    4 months ago

    Hopefully, during repossession, they count his obnoxious branding as negative value and underprice what is being auctioned.

    • halcyoncmdr@lemmy.worldEnglish
      0·
      4 months ago

      From my understanding, it essentially ends up with bidding for assets to get to the amount needed. Whatever the resulting high bid ends up, is the amount for that asset. So if something is valued at $500M but sells for only $200M, it only counts as $200M toward the judgment. Basically, estimated value means nothing, only what someone actually pays for it.

      • givesomefucks@lemmy.worldEnglish
        0·
        4 months ago

        So if something is valued at $500M but sells for only $200M, it only counts as $200M toward the judgment.

        Kind of less, he’s paying taxes on the sale too, because he’s still selling it even tho he doesnt get to keep the money.

        And when selling half a billion dollars of real estate, you’re going to pay a lot of taxes even in America.

        So the 200 million goes to the judgement, but he’s paying 20-40% percent in state/federal/local taxes. And it’s all gonna happen in the same calendar year while a shit ton of accountants are watching his every move.

        He’s going to end up having to sell a lot more than the judgement to pay his tax bill a year from now.

        And that’s not even getting into his loans.

        1. Value a building at 100 million when it’s worth 50

        2. Borrow 70 million on property.

        3. Sells for 40 and the bank needs 30 still.

        There’s no way out, even if the bank forgives the remaining 30, that still counts as taxable income for trump, compounding the first issue. And in that scenario, $0 is going to judgement and trump still loses the property and they move on to seizing the next on the list. He gets zero gain from the sale, but it’s still drives up taxable income for him personally

        trump could conceivably have a billion dollar gross income in 2024, and be completely broke with hundreds of millions due in tax.

        Which is just insane.

        • Zippy@lemmy.world
          0·
          4 months ago

          Well pay taxes if you sell at a profit. Hard to say if the value of his assets increased.

          • givesomefucks@lemmy.worldEnglish
            01·
            4 months ago

            No, it’s still taxes.

            If I buy a 50,000 car and sell it for 25000 2 years later, I’m still paying taxes.

            How do you not know that?

            • FatCrab@lemmy.one
              0·
              4 months ago

              The tax you pay is one the net gain, which is the amount realized less the base of the good (i.e., what you paid to acquire). I’m not a tax expert, and real estate can get really fucky with this stuff, but that’s my understanding of the fundamental rules for taxation.