Legal sources to Gasparino: Ruling will likely disclose true scope of Trump's wealth
Supreme Court rules New York prosecutor can access Trump's financial records; Fox Business' Charlie Gasparino weighs in.
Fox Business Network senior correspondent Charlie Gasparino told "Your World" Thursday that President Trump's tax returns "could be pretty embarrassing stuff" if they don't match the real estate mogul's claims about his personal wealth.
"Tax returns themselves don’t have a number on them [that says] 'I am worth X dollars'," Gasparino told host Neil Cavuto. "It shows sources of income [like] property. It shows various means that can get you to the end of how much he’s worth. It will show you how much charitable money he gives."
The correspondent stated that Trump's net worth is a figure "near and dear" to him, recalling that he claimed that number was north of $10 billion during his 2016 presidential campaign.
SUPREME COURT BLOCKS CONGRESS FROM GETTING TRUMP TAX RETURNS, SENDING CASE TO LOWER COURT
Cavuto concurred, noting Trump -- before running for public office -- routinely accused Forbes magazine of understating his wealth in their yearly rankings. This past April, Forbes published an article that calculated the president's net worth to be $2.1 billion.
"Taking out the potential illegality stuff, what a tax return would show is whether he [Trump] is truthful in terms of how much money he gives to charity, whether -- if you back out some of the numbers -- whether he is worth $10 billion, whether he’s taking every sort of tax break in the world," Gasparino said.
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"It could be pretty embarrassing stuff for the president if the numbers don't match [his statements]."
Gasparino then recalled that Trump's former personal attorney Michael Cohen told lawmakers in sworn testimony last year that the president inflated his wealth "when it served his purposes" and deflated the value of his assets to reduce his real estate taxes.
"But, barring that, I think his tax returns would show ... some degree of embarrassment if it doesn’t match his rhetoric," he said. "And his rhetoric was pretty off of the charts on this stuff, as you know."
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