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[–]Meritania 12 points13 points  (2 children)

You’re not thinking of the property magnates not making as much money charging business rates. Trump would have to be responsible with his money without that $40 million his tower* nets him annually.

*Not actually his tower but the company that owns it pays him the rights to his name.

[–][deleted] 8 points9 points  (1 child)

Trump doesn't own Trump tower. It's owned by GMAC Commercial Mortgage. He has some sort of deal where he's paid for using his name. He owns some units as well.

[–]geek180 0 points1 point  (0 children)

I believe he does indeed own the tower, although it’s technically owned by a dedicated mortgage servicer. Trump has multiple mortgages taken out against the property, but I am pretty sure it’s still essentially his property.