“…a sweetheart deal” that made no logical sense from a business perspective…” – NY Times
“Justice Clarence Thomas’s R.V. Loan Was Forgiven… He failed to repay much, perhaps all, of the $267,230 loan. His benefactor wiped the slate clean, with ethical and potential tax consequences.”
Use this relationship map to follow the money, gifts, luxury trips that billionaires have given Clarence Thomas and some of the many Supreme Court rulings Thomas has ruled on that benefitted his wealthy benefactors.
“The terms of the private loan were as generous as they were clear: With no money down, Justice Clarence Thomas could borrow more than a quarter of a million dollars from a wealthy friend to buy a 40-foot luxury motor coach, making annual interest-only payments for five years. Only then would the principal come due… Thomas failed to repay a “significant portion” — or perhaps any — of the $267,230 principal… Assuming that the loan was entered into genuinely, and not intended from the start as an outright gift, the I.R.S. would treat the forgiven $267,230 — as well as any missed interest payments — as income to Justice Thomas…”
The Senate inquiry was prompted by a Times investigation published in August that revealed that Justice Thomas bought his Prevost Marathon Le Mirage XL, a brand favored by touring rock bands and the super-wealthy, with financing from Anthony Welters, a longtime friend who made his fortune in the health care industry.
Undisclosed gifts and luxury trips
Much of the controversy has centered on how wealthy benefactors have bestowed an array of undisclosed gifts on Justice Thomas and his wife, Virginia Thomas: buying and renovating the home where his mother lives, helping to pay for his great-nephew’s tuition and hosting the couple on lavish vacations that included travel aboard private jets and superyachts.”
TakeAway: Vote for Democrats to fix this GOP stacked Supreme Court under billionaires influence who get the laws they want at the expense of hard working Americans.
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