Lynnley Browning reporting for Bloomberg News
* * *
Democratic presidential candidate Hillary Clinton’s call
Tuesday to increase taxes on the wealthy and close “loopholes” didn’t address
the candidate’s own moves to shield at least part of the value of her New York
home from the estate tax.
(*SNORT*)
Bloomberg News reported in 2014 that Hillary and Bill
Clinton created residence trusts in 2010 and shifted ownership of their
Chappaqua, New York, house into them in 2011, according to federal financial
disclosures and local property records.
(*SMIRK*)
Such trusts offer tax advantages, in which any increase
in the house’s value can be excluded from the Clinton’s taxable estate.
* NICE...
(*SMIRK*)
The trust could save the couple hundreds of thousands of
dollars in future estate taxes, a tax specialist told Bloomberg News in 2014.
(*SARCASTIC THUMBS UP*)
The trusts, as well as the “loopholes” she proposed
closing in other areas on Tuesday, are legal under current tax rules.
Brian Fallon, a Hillary Clinton spokesman, said, “Their
tax rate was over 35 percent in 2013, and she is proposing policies that would
raise their taxes further.”
* DOES ANYONE BELIEVE THIS? SERIOUSLY?
The minimum value of the Clintons’ financial assets is
$11 million, according to Hillary Clinton’s most recent campaign disclosure,
which requires reporting within broad ranges of value.
* BECAUSE THAT'S HOW THE CLINTONS - AND THE BUSHS - AND
ALL THESE SCUMBAGS LIKE IT. (THEY WROTE THE RULES!) (AND IF THEY DIDN'T
"WRITE" 'EM, THEY DIDN'T DO SQUAT TO CHANGE 'EM!)
The couple has earned at least $30 million since January
2014, according to the disclosure. That income places them among the top .01
percent of American taxpayers, based on Internal Revenue Service data. Campaign
disclosures show that the Clintons also own life insurance trusts, which can
also reduce estate-tax bills.
* DO AS WE SAY - NOT AS WE DO!
Under current law, estates worth less than $5.45 million
per person, or $10.9 million per married couple, are exempt from the 40% estate
tax. Clinton on Tuesday proposed making more estates taxable - those worth more
than $3.5 million per person or $7 million per couple. She also wants to raise
the rate to 45%.
* WHERE WERE THESE PROPOSALS WHEN SHE WAS A SENATOR?
WHERE WERE THESE PROPOSALS WHEN SHE WAS "FIRST PARTER?" WHERE WERE
THESE PROPOSALS WHEN SHE WAS OBAMA'S SENIOR CABINET SECRETARY...?!?!
The increased tax would apply to four out of every 1,000
estates in the country and raise $200 billion over 10 years, according to a
Clinton campaign aide who asked not to be named.
* WHY? WHY ASK NOT TO BE NAMED? AND WHY SUBMIT TO SUCH A
DEMAND?
On Monday, Clinton proposed creating a 4% tax surcharge
for people with annual incomes of $5 million or more, a measure that would
target just .02% of U.S. taxpayers and raise $150 billion over 10 years, the
aide said.
* THE UNNAMED AIDE...
(*SMIRK*)
* FOLKS... FOR THE FEDERAL TREASURY... THAT'S A ROUNDING
ERROR!
* FOLKS... A SINCERE AND POTENTIALLY EFFECTIVE - AND FAIR
- "REFORM" PROPOSAL WOULD TARGET ANYONE EARNING... SAY... OVER FOUR
TIMES THE NATIONAL MEDIAN WAGE.
(*SHRUG*)
* BUT... POLITICIANS BEING SCUMBAGS... YOU'RE NOT GONNA
GET A LOGICAL, ETHICAL PROPOSAL SUCH AS THAT.
Clinton also said Tuesday she wants to close “loopholes”
that create tax benefits for hedge-fund managers and the wealthy.
* AGAIN... HOW MANY YEARS WAS SHE A SENATOR? HOW MANY
YEARS "FIRST PARTNER?" HOW MANY YEARS SECRETARY OF STATE?
(*SIGH*)
* FOLKS... THE HYPOCRISY AND PHONINESS ARE FRONT AND
CENTER.
Specifically, she wants to make it more difficult to
build multi million-dollar individual retirement accounts, and prevent hedge
funds from getting tax benefits by investing through Bermuda-based reinsurance
companies.
After Clinton’s estate-tax announcement Tuesday, Michael
C. Short, a Republican National Committee spokesman, tweeted a link to
Bloomberg’s previous reporting on the Clintons’ residence trusts.
* DO YOUR OWN GOOGLING, FOLKS...
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