The New York Times seems to have decided to shift its target of ‘investigative’ reporting to President Donald Trump. In this latest article, they crowed over confidential tax information that they somehow received, and how, to them, it showed that Donald Trump committed tax fraud.
In the third paragraph of their article, they even mentioned that they based their ‘investigation’ on a “vast trove” of President Donald Trump’s, and his family’s, personal, confidential tax returns and financial records. They openly flaunted that they got 200 ‘records’ leaked to them.
However, the president’s lawyer issued a blistering response, which seemed to hint at a possible defamation or libel suit against the Times for baseless accusations, which could, theoretically, leave Commander-in-Chief as the owner of at least a sizable portion of the paper.
According to the Times, Donald Trump received the equivalent of $413 million from his father, New York City builder and real estate developer Fred C. Trump, starting when he was a toddler and continuing to this very day.
The newspaper continued on to declare that the money came to Donald J. Trump because he worked to assist his parents in dodging taxes, and that he, and his siblings, set up a sham corporation to disguise gifts.
They also said that records indicated that that President Trump helped his father to save millions of dollars by taking improper tax deductions.
The Times’ ‘investigative’ reporters also claimed that Donald Trump found a strategy top undervalue the property and real estate that his parents owned, which allegedly saved them hundreds of millions of dollars.
Such a strategy, they claimed, also reduced the tax bill when the properties were transferred to the Trump family’s younger members.
The Internal Revenue Service, according to the NYT, didn’t seem to have a problem with it, as the strategy met with “little resistance” from the tax collection agency when these ‘maneuvers’ were attempted.
According to the investigative reporters, the estate of the matriarch and patriarch of the Trump family, Fred and Mary Trump, transferred over $1 billion in assets and funds to their children.
Under the death tax laws (a tax imposed on the estates of deceased individuals worth more than a certain amount) at the time, that could have generated up to $550 million in tax revenue.
The investigative reporters claimed that, instead, the family paid only about $52.2 million in taxes on the wealth that their parents had accumulated.
President Donald Trump would not provide any commentary on the article, although his lawyer, Charles J. Harder, called the allegations “100 percent false” and “highly defamatory,” and said that the ‘facts’ that the report was based upon were extremely inaccurate.
He also said that most of the ‘tax strategies’ used by the family were not of the President’s invention.
Robert Trump, the president’s brother, issued a statement for the family, and said that their father passed away in 1999, and their mother in 2000.
A recurring theme through the Times’ article, however, is that the alleged conduct could be illegal or simply legal tax avoidance.
According to the newspaper, they combed through more than 100,000 pages of documents, including confidential documents they somehow received, in order to say that Donald Trump didn’t make his billions by himself, and that he might have committed tax fraud decades ago via complex methods.
This doesn’t match up with the leftist suggestion that President Trump is, for lack of a better word, an ignoramus, or a spoiled child.
Which is it? Was Donald Trump smart enough to hide so much of his parents’ wealth that the family only paid less than a tenth of the alleged value of the assets? Or, is he a petulant know-nothing, like leftist media continually suggested?
Furthermore, even if President Trump received a large inheritance from his parents over the course of his life, along with many ‘gifted’ streams of income, that doesn’t change the fact that he took his family name and turned it into a brand recognized around the world.
The Trump Organization, and the wealth that he grew within it, represents a business acumen that most leftists seem unable to fathom. As of 2016, the conglomerate generated annual revenue of $9.5 billion dollars, more than 18 times the money that Donald Trump was allegedly gifted over the course of his life.
Once again, it seems that leftists, hoping to impugn the president in any way they can, delivered a nothingburger, and somehow accessed confidential documents to do it.