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It’s all “creative accounting,” no big deal

Published by digby on October 3, 2018

It’s all “creative accounting,” no big deal

by digby

Keep the suckers suckered

Over in Bizarroworld, here’s how they’re dealing with the blockbuster NY Times story that lays out a compelling, highly detailed case that Trump is a criminal:

Fox News leaped to the president’s defense after the New York Times published a bombshell story on Tuesday detailing how Donald Trump — despite the image he’s promoted of himself as a self-made billionaire — used tax dodges to siphon nearly a half-billion dollars from his dad’s real estate empire into his own pockets.

In an extraordinary move, the story’s lede accuses the sitting president of crimes, alleging the newspaper’s investigation turned up “instances of outright fraud” that Trump used to enhance the fortune he took from his dad.

But before most people may have had a chance to make it through the lengthy piece, the president’s favorite TV channel got busy defending him.

Shortly after the story was published, Fox News’ Neil Cavuto dismissed tax fraud as “creative accounting,” saying, “I don’t know if there’s a there there outside of the fact the president benefited from having a rich father and a good marketing skill.”

Fox’s business show calls the activities in the NYT report “creative accounting” and dismisses it as Trump benefiting from a rich dad

On Wednesday morning, Fox & Friends advanced a different talking point to defend the president. Host Brian Kilmeade actually spun the story as a positive, arguing it proves “there’s no financial benefit for Donald Trump running for president.”

Ainsley Earhardt added that the revelations amount to “bashing his dad who has been dead for a very long time” — despite the fact that the New York Times story does not “bash” Trump’s father Fred, who died in 1999.

Kilmeade’s spin isn’t even accurate. On the same day that the NYT published its investigation of Trump’s wealth, Forbes ran a piece about how Trump — who broke precedent by refusing to divest from his business interests when he took office — is trying to profit off the presidency, but largely failing.

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Published inUncategorized