Donald Trump at the Taj Mahal casino in Atlantic City. As the 1980s came to a close, many of his businesses, overloaded with debt, began to lose money. Ángel Franco/The New York Times
New York Times: Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father
The president has long sold himself as a self-made billionaire, but a Times investigation found that he received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s.
President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, an investigation by The New York Times has found.
Mr. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help.
But The Times’s investigation, based on a vast trove of confidential tax returns and financial records, reveals that Mr. Trump received the equivalent today of at least $413 million from his father’s real estate empire, starting when he was a toddler and continuing to this day.
Read more ....
Update #1: NY Times: Trump got $413M from his dad, much from tax dodges (AP)
Update #2: Trump was 'earning' $200,000 a year aged THREE and got $413 MILLION from his father, not the $1 million loan he claimed, reveals massive trove of family's secret tax and bank documents - which New York State says they will investigate (Daily Mail)
WNU Editor: Apparently the New York Times has been working on this story for over a year .... and (surprise surprise) there is no mention of Russia in this New York Times report . So much for the claims that we have been hearing for two years that President Trump's wealth came from Russian sources. As to the New York Times report itself .... I know through my brother the lengths that the IRS will go through a person's tax forms and financial interests. To put it bluntly .... they are very thorough. President Trump has been a well known public figure for 40 years, and his dad before him. I am sure the IRS have checked their financial books and wealth numerous times. If they found something inappropriate, it would have been raised a long time ago. So why the New York Times is coming out right now with a story that President Trump committed tax fraud .... I leave it to you .... the reader .... to figure that one out.
Update #3: Not surprised to hear that this may happen .... Trump Lawyer Warns New York Times of Tax Story ‘Defamation,’ ‘Substantial Liability’ (CNS News).
