, shining a light on previously unreported benefits the justice has received from a “cohort of wealthy and powerful friends,” thanks to his connections established through the Horatio Alger Association of Distinguished Americans., this time about a recreational vehicle that Thomas has bragged about many times, though it appears he’s left out some relevant details.
His Prevost Marathon cost $267,230, according to title history records obtained by The New York Times. And Justice Thomas, who in the ensuing years would tell friends how he had scrimped and saved to afford the motor coach, did not buy it on his own. In fact, the purchase was underwritten, at least in part, by Anthony Welters, a close friend who made his fortune in the health care industry.
By any fair measure, there are more questions than answers. How much did Welters loan Thomas? They won’t say. How much did Thomas repay? They won’t say. What were the terms of the loan? They won’t say. Was there a formal loan agreement? They won’t say.
While it’s true that existing reporting requirements don’t generally apply to vehicle loans, the Timesthat private loans such as this one “can be deemed gifts or income to the borrower under the federal tax code if they don’t hew to certain criteria: Essentially, experts said, the loan must have well-documented, commercially reasonable terms along the lines of what a bank would offer, and the borrower must adhere to those terms and pay back the principal and interest in full.
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