The New York State Department of Taxation and Finance has opened an investigation into President Trump for fraud and tax evasion following a major exposé by the New York Times revealing that Trump inherited nearly half a billion dollars of his family’s wealth through tax dodges and outright fraud.
New York City Mayor Bill De Blasio has also called for a city probe, and Democratic Senator Ron Wyden has urged the IRS to investigate the president.
The Times’ 13,000-word investigative report found the late Fred and Mary Trump transferred more than $1 billion in wealth to their children, paying less than 5 percent of the $550 million in taxes they should have paid under inheritance tax rates.
Donald Trump also helped his parents undervalue real estate holdings by hundreds of millions of dollars on IRS tax returns in order to reduce taxes.
We speak with David Barstow, three-time Pulitzer Prize-winning investigative reporter for The New York Times and the lead author on the new investigation, “Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father.”