Charity begins at home. I wonder sometimes how the Internal Revenue Service feels about that, but that is the conventional wisdom. Exhibiting their usual talent for taking things to the legal limit, the Clinton family obvious believes that charity should begin at home.
The article reports:
The Clintons earned more than $28 million in 2014 and claimed around $3 million in income as charitable tax deductions, according to tax returns released by Hillary Clinton’s campaign last Friday. The campaign emphasized Clinton’s charitable giving in a press statement, saying that it “represented 10.8 percent” of her income in 2014. But roughly half of that money—$1.8 million—appears to have been channeled to the Bill, Hillary, and Chelsea Clinton Foundation.
According to the tax returns, the Clintons gave $3 million in 2014 to the Clinton Family Foundation, a small private foundation that the family uses as a pass-through to other charities. Records show the CFF disbursed $3.7 million in 2014, including $1.8 million to the Bill, Hillary, and Chelsea Clinton Foundation.
Just for kicks, let’s look at how the Foundation spends its money. The Bill, Hillary, and Chelsea Clinton Foundation evidently funds a good deal of the travel expenses the Clintons generate. It must be nice to have a Foundation that helps with the expenses of your Presidential campaign.
The article further reports:
Americans for Tax Reform slammed Clinton on Tuesday for forming an “Article 4 trust,” which the group said appears to be a method to avoid paying estate taxes—a tax Clinton has supported.
“Clinton has consistently voted for the Death Tax throughout her time in public office and forcefully condemned attempts to lower it,” ATF said in a statement. “But when it comes to her own finances, it is a different story. The newly released tax returns buttress earlier reports outlining the ways Clinton uses financial planning strategies that shield her Death Tax liability.”
Another example of taxes for thee, but not for me.