NEW YORK TIMES REVELATIONS
Trump denies dodging taxes on inheritance
New York state tax authorities plan to probe whether Trump and his family were involved in ‘instances of outright fraud’
Washington — US President Donald Trump dismissed allegations in a New York Times report that he had got vastly more money from his father than admitted — in possible violation of tax laws — as "very old" and "boring". Trump blasted the article as a "hit piece" and said he had "never seen" the accounting practices utilised by the newspaper in its reporting. "The Failing New York Times did something I have never seen done before," Trump tweeted on Wednesday morning. "They used the concept of ‘time value of money’ in doing a very old, boring and often told hit piece on me. Added up, this means that 97% of their stories on me are bad. Never recovered from bad election call!"
The time-value of money, a basic financial concept, means a dollar today is worth more than a dollar in the future. That is because it can be invested today and create more money in the future. The New York Times analysis, however, largely relied on a different concept — a basic adjustment for inflation. Trump...
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