Comment by zimpenfish
1 day ago
> Your source does not seem aware of the history of tax brackets.
"Beginning in 1949, the president was also granted a $50,000 (equivalent to $677,000 in 2025) expense allowance, which was initially tax-free, and did not have to be accounted for."[0] That's 4 years of $677,000 tax-free which I make to be about $2.7M which lines up with "Truman embezzled about two and half million dollars, in 2025 money, from the White House expense account"[1] - "tax-free", "did not have to be accounted for" -> tax brackets are meaningless.
But, you say, "the allowance became taxable later in his presidency"[0], and I reply "Truman never reported it on his tax return"[0], "and also didn’t pay the taxes he owned on the money."[1] which also somewhat scuppers the "history of tax brackets" angle, no?
Further, "In February 1953, Truman signed a book deal for his memoirs, and in a draft will dated December of that year listed land worth $250,000 (equivalent to $3,008,000 in 2025), savings bonds of the same amount, and cash of $150,000 (equivalent to $1,805,000 in 2025)"[0] which I reckon comes to about $8M which, again, lines up with "Truman had a net worth of about $8 million in 2025 dollars when he left the White House"[1].
Further, further, "In January 1959, Truman calculated his net worth as $1,046,788.86 (equivalent to $11,561,000 in 2025)"[0] which, to be fair, is slightly lower than the "$14 million in 2025 dollars when he was successfully shaking his tin cup to Sam Rayburn and John McCormack in 1958"[1] but in the same "NOT AT ALL POOR GTFO" ballpark.
In summary - he embezzled $2.5M, got $8M for your memoirs, and ending up being worth $11-14M within 6 years of leaving the White House and thus I rate the claim "Truman who was rather broke, and ran into financial difficulties after leaving office" as 100 Pinocchios.
[0] https://en.wikipedia.org/wiki/Harry_S._Truman (look at "Financial Situation")
[1] https://www.lawyersgunsmoneyblog.com/2026/01/the-immortal-le...
Wikipedia is not a source. All of the dirt on that page is exclusively relying on one article [1] from a self-citing author, the same author you again cited in your post here, from 'lawyersgunmoney.' I don't find it compelling. It may indeed ultimately turn out to be accurate, but I find it generally unwise to rewrite history on the words of a single person, who seems to have a strong bias towards a certain narrative.
That bias could indeed just be because he believes he's discovered a truth which most people don't know, completely contrary to the 'official narrative', which is indeed quite a frustrating place to find oneself. But it can also cause one to be blind in some ways. For instance assuming everything as written is accurate, the author simply then jumps to malice (like tax evasion), seemingly without consideration of issues such as inconsistent or flawed record keeping which I imagine was extremely common in the days prior to computers.
[1] - https://nymag.com/intelligencer/2021/07/the-truman-show.html