Feb 27 2007
Democrat Tax Cheaters
It seems the Clinton’s have been playing a shell game with their income, shuffling it through a supposed charity just so they can hide it from the tax man. Notice the revenues versus the charitable contributions in this story:
Sen. Hillary Rodham Clinton and former president Bill Clinton have operated a family charity since 2001, but she failed to list it on annual Senate financial disclosure reports on five occasions.
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The foundation has enabled the Clintons to write off more than $5 million from their taxable personal income since 2001, while dispensing $1.25 million in charitable contributions over that period.
Any normal taxpayer trying to play this game would be hauled in for a tax audit – and rightfully so. Somehow the Clinton’s hid $5M in income from the taxman (which would be at the income tax rate of 34%) as if it was charity donations (can Bill’s speeches be seen as a charity case?). In order to do this scam the Clintons donated 25% to charity, saving about 10% and keeping all of it from the taxman. But what is ridiculous is a charity which has 75% overhead and only providing a measely 25% of all revenues to the target of the supposed charity. This is a scam plain and simple. Everyone knows the best charities donate 90% of their revenues to the needy they represent – not 25%. I would expect every donor to this ‘charity’ to be a Democrat fundraiser who has little record of donating to charities like this one. In other words, they knew the Clintons would pocket the money for themselves.
Is this how the liberal elitists show compassion for the poor? Evidentally it is.
Why is it that richest of the rich want to tax everybody more. I’m frankly sick of it. These sanctimonious do gooders, are power hungry narcissists. We are going to take “your money for the common good”, except if it is in a trust, charity or some other hiding place. STOP IT!
And let’s not forget, that the clintons are WELCOME to pay EXTRA to the Federal Government if they want revenues to be higher…it looks like they could pay for theirtax increase wishes from their “donations” to the tax pot…
🙂
Mistake my arse…
Hillary once again caught in a serious impropriety:
“Sen. Hillary Rodham Clinton and former president Bill Clinton have operated a family charity since 2001, but she failed to list it on annual Senate financial disclosure reports on five occasion…
Hillary made a big mistake when whe did not set up multiple dummy charities to contribute to. I am surprised at her carelessness. Maybe she has been hot on the campaign trail and has not had time for random skullduggery.
Why does anyone assume this 5 million is the only sum the Clintons did not report? I’ll bet it was a bigger amout than that all under the table.
As far as the 25% goes, the Clintons watched Jesse Jackson run Rainbow Push with very little going out to charity and he got away with it and still is. I have never heard of Rainbow Push being audited and probably never will. I worked for a small non-profit with a 4 million gross and we were audited several times for peanut amounts and had to make adjustments. Also before I went to work there the company was treatened with dissolution of their tax exempt status if we did not issue 1099s. Rainbow Push failed to issue all of theirs. All these people are crooks and can get away with chicanery because they are in high places and have friends in same.