Michael Cohen: Inflated Assets
on Wednesday, February 27, 2019Michael Cohen Money Quote saying during his congressional testimony on February 27 that President Trump claimed greater wealth when it suited his purpose and lesser wealth when it saved him on taxes. Michael Cohen said:
“Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed among the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes” — Michael Cohen
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In this quote, Michael Cohen is accusing Donald Trump of strategically and deliberately misrepresenting his true net worth and assets depending on the situation. Some key points:
- Cohen states that Trump would inflate or exaggerate the total value of his assets/wealth when it served a purpose like trying to be ranked on the Forbes list of richest people.
- However, Cohen claims that in other cases like when paying real estate taxes, Trump would do the opposite and downplay the value of his assets/net worth to reduce his tax liability.
- In essence, Cohen is asserting that Trump was not honest and would adjust his estimates of his wealth higher or lower based on whether overstating or understating values was more personally advantageous at that particular time.
So in summary, Cohen accuses Trump of being purposely deceptive and flexible with the truth about his financial situation and worth depending on what provided maximum benefit in each scenario, rather than providing accurate assessments consistently.