For one thing, it is an accounting of income rather than wealth, so it would not establish whether Mr. Trump is a billionaire. One straightforward fact-check: Mr. Trump repeatedly said he would not benefit from the tax cuts passed by Congress in 2017. Virtually every major analysis of the tax cut has shown that wealthy people like Mr. Trump are the primary beneficiaries. Mr. Trump has long said he suffered setbacks during the recession in the early 1990s, and then bounced back to rebuild his fortunes. But tax records and other sources show Mr. Trump lost big during the boom years of the late 1980s.

Source: New York Times May 08, 2019 21:33 UTC