Let's clear this up once and for all
At the 11th GOP debate we heard Senator Marco Rubio claim that Donald Trump inherited $200 million. We also heard Donald Trump claim he began his business empire with a small loan of $1 million from his father. So who is wrong? The answer is almost certainly both.
The Washington Post fact-checked the claim by Mr. Trump that he began his empire with that small loan of $1 million and gave it four Pinocchios, their highest rating of dishonesty. The story provides proof that Donald Trump received more than $350,000 in direct income from a trust his father set up for him in just the years 1979 through 1981. It also proves that Mr. Trump has admitted to borrowing $9 million from his future inheritance during a 2007 deposition and that he and his siblings almost certainly divvied up a $30 million trust that Fred Trump established to provide for his wife after his death. Donald Trump's mother died in 2000, so he certainly ireceived more than $1 million from that trust. The story also provides evidence that the first big Donald Trump real estate project received far more than a $1 million loan from Fred Trump.
But we can clear this discrepancy up very easily. Mr. Donald Trump simply needs to authorize the release of his father's estate tax return and the documents regarding all of the trusts set up for his benefit and those tax returns. He can protect the privacy of his siblings if they wish by redacting any portion of those documents that make mention of those siblings.
It won't happen. Donald Trump is obfuscating every single attempt to look into his personal financial history with the sole exception of the documents he is required by law to furnish as part of his political campaign. He could release every single one of his personal tax returns that is not currently being audited very easily. Why doesn't he? It's a pretty good question that he won't answer.
The Washington Post fact-checked the claim by Mr. Trump that he began his empire with that small loan of $1 million and gave it four Pinocchios, their highest rating of dishonesty. The story provides proof that Donald Trump received more than $350,000 in direct income from a trust his father set up for him in just the years 1979 through 1981. It also proves that Mr. Trump has admitted to borrowing $9 million from his future inheritance during a 2007 deposition and that he and his siblings almost certainly divvied up a $30 million trust that Fred Trump established to provide for his wife after his death. Donald Trump's mother died in 2000, so he certainly ireceived more than $1 million from that trust. The story also provides evidence that the first big Donald Trump real estate project received far more than a $1 million loan from Fred Trump.
But we can clear this discrepancy up very easily. Mr. Donald Trump simply needs to authorize the release of his father's estate tax return and the documents regarding all of the trusts set up for his benefit and those tax returns. He can protect the privacy of his siblings if they wish by redacting any portion of those documents that make mention of those siblings.
It won't happen. Donald Trump is obfuscating every single attempt to look into his personal financial history with the sole exception of the documents he is required by law to furnish as part of his political campaign. He could release every single one of his personal tax returns that is not currently being audited very easily. Why doesn't he? It's a pretty good question that he won't answer.
posted by me at 9:10 AM
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