Did Trump Inherit a Fortune? 💰

 Rtalesnick / Mediapunch / REX

Rtalesnick / Mediapunch / REX

Yuuuuge allowance

By now, you've likely heard something about The New York Times publishing a story that alleges President Trump inherited a large sum of money from his father. The story, based on months of investigation, alleges that Trump received a sum that would be worth $413 million today. It also alleges that the Trump family committed “outright fraud” in order to transfer wealth to Donald and his siblings without paying sufficient tax.

Trump dismisses it

President Trump has long characterized himself as a “self-made man,” claiming that his father only supported him early on in his career with “a small loan of $1M.” In a tweet, Trump called the story from “The Failing New York Times” an “old, boring...hit piece” and chalked it up to bias on the part of the Times.


LEANING LEFT:

Washington Post: We knew Trump was incredibly corrupt. Turns out he may also be an epic tax cheat

NY Times: Donald Trump and the Self-Made Sham

The left sees this story as further proof that President Trump is a liar and a criminal. Articles highlight reactions from experts who call the Trump’s tax avoidance maneuvers “beyond the pale” and “highly suspicious”. The left also points out that so little about Trump’s business dealings is known and there may be more crimes to uncover. Articles from the left argue that, with the publication of this story, Trump must finally release his tax returns.

LEANING RIGHT:

Washington Examiner: Trump: New York Times hit new low with 'hit piece' on family's fortune

Townhall: White House Blasts 'Misleading' NYT Report Alleging Tax Fraud

The right sees this story as further proof that the media is biased against President Trump. Most articles from the right do not refute individual allegations within the NYT story. Instead, these outlets quote portions of the White House’s official response to the story: “Many decades ago the IRS reviewed and signed off on these transactions” and “The NYT and other media outlets...are consumed with attacking the president and his family 24/7”.


Will this story tarnish Trump?

Trump has a way with weathering bad press: the Access Hollywood tapeStormy Daniels, the Helsinki Summit with Putin - nothing seems to touch Trump’s approval rating. So maybe Teflon Donald will stand stalwart as this bad press flows by, too. However, after the NYT story ran, reports emerged that tax officials in NY are “reviewing the allegations in the NYT article and are vigorously pursuing all appropriate avenues of investigation" - so maybe something will come out it?

The only kind of fortune I've received

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