Xtra News Community 2
March 29, 2024, 06:52:55 am
Welcome, Guest. Please login or register.

Login with username, password and session length
News: Welcome to Xtra News Community 2 — please also join our XNC2-BACKUP-GROUP.
 
  Home Help Arcade Gallery Links BITEBACK! XNC2-BACKUP-GROUP Staff List Login Register  

The New York Times exposes Trump's lies about his wealth…

Pages: [1]   Go Down
  Print  
Author Topic: The New York Times exposes Trump's lies about his wealth…  (Read 1035 times)
0 Members and 1 Guest are viewing this topic.
Kiwithrottlejockey
Admin Staff
XNC2 GOD
*
Posts: 32232


Having fun in the hills!


« on: October 04, 2018, 02:12:44 pm »


from The New York Times…

Trump Attacks ‘Failing New York Times’ Over Tax Scheme Reporting

Responding to an article published online on Tuesday, President Trump
did not offer an outright denial of the facts it reported.


By EILEEN SULLIVAN | Wednesday, October 03, 2018

President Trump called The New York Times's report on his taxes an “old, boring and often told hit piece” in a Twitter post on Wednesday. — Photograph: Al Drago/for The New York Times.
President Trump called The New York Times's report on his taxes an “old, boring and often told hit piece” in a Twitter post on Wednesday.
 — Photograph: Al Drago/for The New York Times.


WASHINGTON D.C. — President Trump on Wednesday criticized a New York Times investigation into his and his family's use of dubious tax schemes over the years and the origins of his own wealth, calling the article an “old, boring and often told hit piece.”



Referring to The Times as the “Failing New York Times,” Mr. Trump did not offer an outright denial of the facts in the report, such as that the money he made during his decades in real estate came from tax schemes of dubious legality, the existence of records of deception in documenting the family's financial assets, and that the beginning of the president's so-called self-made fortune dates back to his toddler years when, by the time he was 3 years old, Mr. Trump earned $200,000 a year in today's dollars from his father.

Nor did Sarah Huckabee Sanders, the White House press secretary, during a subsequent briefing with reporters. Asked to identify what in the article was incorrect, she said, “I won't go through every line of a very boring 14,000-word story.”

Instead, she said the article demonstrated that Mr. Trump's father believed in him. “One thing the article did get right is it showed that the president's father actually had a great deal of confidence in him,” she said. “In fact, the president brought his father into a lot of deals and made a lot of money together.”

Mr. Trump has consistently refused to release his tax returns — although making returns public has been a common practice by every president and most presidential candidates dating back decades. That has left questions about his personal finances, business practices and taxes paid to the federal government. The 18-month New York Times investigation was based on reams of records and documents about the Trump family empire, though it did not unearth the president's tax returns.

In the Twitter post, Mr. Trump singled out the notion of “time value of money,” an economic concept about how the value of one dollar today is worth more than the value of one dollar tomorrow. Among The N.Y. Times's findings was that Mr. Trump received today's equivalent of $413 million from his father's real estate empire, far more than a $1 million loan, to be repaid with interest, that Mr. Trump has regularly cited as the one-time loan that he shrewdly used to amass his eventual wealth and success.

The New York Times Times found that the original loan from his father was a series of loans totaling $60.7 million, today's equivalent of $140 million.

The Times report also showed how Mr. Trump and his family took part in fraudulent schemes, such as how Mr. Trump and his siblings set up fake corporations to disguise millions of dollars' worth of gifts from their parents, in order to evade taxes.

On Monday, the president declined to comment on the article, despite several requests over a period of weeks. A lawyer for Mr. Trump, Charles J. Harder, provided a statement with broad denials for the investigation's findings.

The New York Times's allegations of fraud and tax evasion are 100 percent false, and highly defamatory,” Mr. Harder said. “There was no fraud or tax evasion by anyone. The facts upon which The Times bases its false allegations are extremely inaccurate.”

The Times defended the reporting and findings in the article. “This is a powerful piece of investigative journalism, the result of 18 months of inquiry and a review of over 100,000 pages of records,” said Eileen Murphy, a New York Times spokeswoman. “It is accurate and fair and we stand behind it.”


__________________________________________________________________________

Binyamin Appelbaum and Neil Irwin contributed reporting to this article.

Eileen Sullivan is the early breaking news correspondent for The New York Times in Washington D.C. She previously worked for the Associated Press for nearly a decade, covering national security and criminal justice issues. She was on a team of Associated Press reporters who won the 2012 Pulitzer Prize for Investigative Reporting for their stories that revealed the New York Police Department's Muslim spying programs.

https://www.nytimes.com/2018/10/03/us/politics/donald-trump-nyt-taxes.html
Report Spam   Logged

If you aren't living life on the edge, you're taking up too much space! 

Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by EzPortal
Open XNC2 Smileys
Bookmark this site! | Upgrade This Forum
SMF For Free - Create your own Forum


Powered by SMF | SMF © 2016, Simple Machines
Privacy Policy
Page created in 0.044 seconds with 15 queries.