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Clintons “Dodged” Hundreds of Thousands in Taxes

So while we’re on the subject of calling using the tax laws smartly “tax dodging,” as I’ve seen Donald Trump’s legal deductions referred to repeatedly, let’s duly note that the Clintons have done some massive legal tax avoidance themselves.

According to a June 2014 story in Bloomberg, Bill and Hillary Clinton dropped ownership of their expensive New York home into a “residence trust” in 2011, helping shield them from estate taxes that could gobble up 40 percent of their assets when they depart the earth.

The Clintons, of course, support the death tax as a way of bilking the one percent out of their capital. In fact, Hillary wants to raise it to a confiscatory 65 percent. But, as Bloomberg notes, that doesn’t mean she wants to pay it.

“Among the tax advantages of such trusts is that any appreciation in the house’s value can happen outside their taxable estate,” Bloomberg reported. “The move could save the Clintons hundreds of thousands of dollars in estate taxes, said David Scott Sloan, a partner at Holland & Knight LLP in Boston.”

Hillary Clinton and Biden

Of course, the Clintons would do much more tax finagling if they thought they could get away with it. But unlike Trump, they have known their tax returns would be in the public eye and that it would be unseemly to overdo it.

So congratulations to the Clintons on avoiding taxes they need not pay. And congratulations to them on their latest hypocrisy as well.

Here she is attacking Trump for wanting to end the estate tax. What she leaves out amidst her sanctimony is that she too wants to end it, but just for herself.

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12 Responses to Clintons “Dodged” Hundreds of Thousands in Taxes

  1. It just occurred to me that Kaine’s neutering of himself as Hillary’s “right-hand person” in the debate was an attempt to not sound sexist and thereby offend women.

    However, what he ended up doing was showing his bias for right-handed people and offending left-handed people.

    (I would also add that “person” is used when speaking in general…e.g. a congressperson, a layperson. But when the sex of the person is known you should say Congressman Pence or Congresswoman Pelosi. Kaine was unable to identify himself as a “man” when referring to himself as “the right-hand person”.)

    • With Raddatz and Vanderbilt :) as moderators Trump shouldn’t even bother to show up.

      But he will. He show be precise, waste no words, and be “cooperative”. He can win the debate Pence style.

  2. The Estate Tax is unfair at any rate.
    It should be abolished.
    The government has made itself an “heir” without being part of the family or even included in a legal will.
    All it does is punish the heirs for the good fortune or careful investing of their loved ones.

    • There is a suggestion in the article that the case agents be subpoenaed. It’s a good idea.

      Unfortunately for the agents involved, they, and not Comey will suffer from his cowardice and failure to fulfill his duties as Director of the FBI.

    • When I was back in the US Navy I had dreams of being an FBI Special Agent (thanks to the X-Files)…even sent for a career brochure in the mail.
      I always had respect for the FBI (even when I became a CIA sycophant-wanna be).
      But now thanks to Director Comey, the castrated-weak Agents? & this SHAMEFUL Investigation (I have a college degree in Paralegal Studies and how they cut these deals about the FBI destroying “evidence” and never looking into “criminal charges” that VIOLATE basic US National Security LAWS)
      I am so, so disgusted with this ‘Federal Bureau of Investigation’.

  3. We naturally expect liberal Democrats, especially elected officials and candidates, to pay taxes with smiles on their honest faces; to search eagerly for opportunities to pay taxes; to avoid tax deductions like snakes avoid mongooses.

    Well, Don’t we?