“And the Attorney General of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties. It was all part of a very specific real estate practice known as lying,” Stewart quipped on the Monday, March 25, installment of the Daily Show.
The 77-year-old was found liable for fraud and was subsequently ordered to pay roughly $454 million dollars including interest. However, O’Leary argued against the penalty, claiming Trump was guilty of something “every real estate developer everywhere on Earth” had done.
“Leave it to Kevin O’Leary to be unaware enough to say the quiet part out loud,” the television show host replied after the clip.
“I am surprised to hear this from Kevin O’Leary,” the television show host admitted. “I’m surprised to hear that he’s so chill about overvaluing something that he thinks is victimless because when someone tries to do that to him…”
“The f------ entitled arrogance!” he exclaimed. “I don’t know if you know this, but most people just can’t commit fraud and expect to face no repercussions, even if everyone’s doing it.”
This is actually a totally non-response to the real implication of what has been stated: Trump is facing fraud charges for something that is basically common practice in the real estate world.
Completely unconvincing.
By Stewart’s standard, everyone who has ever applied for a loan and everyone who has ever paid land taxes has committed fraud.
My house was appraised by the city at one price for the purposes of land taxes, and guess what? I paid a completely different price when I bought it and got a loan from the bank for it! OH MY GOD CALL THE POLICE!
I bet Stewart owns some property, and I guarantee the same is true for him. I bet he got a mortgage for the actual value, but he pays land taxes based on the value the city assessed which is lower.
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Wow, called it!