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Hillary Clinton wants higher estate taxes, but not on her family.


Posted: Sep 23, 2016

65% on the wealthiest Americans, according to her latest tax plan. The Clinton campaign estimates that the increase would raise an addition $75 billion in revenue over the next decade. The current rate maxes out at 40 percent. But Hillary Clinton and her husband Bill have created a number of tax shelters in recent years to dramatically limit their payment of the very same tax. As Bloomberg reported back in 2014: “To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1% of U.S. households in wealth.” In 2010 the Clinton created “residential trusts” and the following year moved their Chappaqua estate into the trust, according to their financial records. As David Scott Sloan, a partner at the firm Holland Knight explained the Clinton trust to CBS News, “You’re creating things that are going to be on the nontaxable side of the balance sheet when they die.” The move will save the Clintons hundreds of thousands of dollars in estate taxes, according to accountants quoted by Bloomberg. ;

So what is your effective tax rate if you make all your - money through a charity that only pays

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out 6% of it receipts?

All of the Clinton expenses for travel, food, lodging, - maels and entertainment are paid

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for by Foundation employees or directly by the Foundation. Technically, they should be paying taxes on the value of the items they consumed. But, most likely they are not.

They have substantial charity gift giving deducted from those several incomes, thus reducing the taxes paid. The charity most often chosen is their own Clinton Foundation.

Some pundit, rightly, termed it a Clinton slush fund.

I think the nation has caught on to the Clinton slush fund. Probably the foundation will go - quietly away. Some of it will go into foreign

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banks, some will become hard assets that mysteriously get lost somewhere.

Clinton expenses - Are you kidding me?

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The items you mention are reimbursements for out-of-pocket expenses, not income subject to taxes. Not sure what part of the tax code you think requires people to pay taxes on expense reimbursement but I sure would like the reference if you have it because I owe the IRS some money if what you say is true. I'd also like to see what evidence you have that employees of the Foundation pay any of the Clintons's expenses. As far as I know, people who have charitable foundations are SUPPOSED to make donations to them (unlike Mr. Trump, by the way, who hasn't made a donation to his since 2008)to be able to carry out charitable work - they aren't savings accounts - there are very strict rules about how such funds can be used by a public charity. They get charitable deductions for their income taxes because that's the way the tax code is written - to encourage wealthy people to support charitable activities. The Gates give to their own foundation, the Carnegies did, the Fords did, and I believe Warren Buffett did to name a few. Soooo what's your point and where's your proof?

Wrong - Are you kidding me?

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The Clinton Foundation "only gives out 6% of its receipts" because it normally doesn't make grants to other people or organizations - which is what the Trump campaign is focusing on. The Clinton Foundation does most of its work directly. If I recall correctly, they spend about 10%-15% for fund-raising and overhead and the Clintons don't receive any salaries. The rest goes to world-wide charitable work. The Foundation is given an A rating by Charity Watch. If you research what the Foundation does and has done for the world's underserved people, I hope you will be ashamed that you accused Ms. Clinton of graft and self-dealing.

Some states add an additional 10-15%, so with the fed at 65 that could mean - 80%. This doesn't just affect

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millionaires. It affects family run businesses like my daughter and son-in-law who run a farm.

Double standard - meemee

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And yet, if Trump had done this you would say he was just a great businessman...I personally think the tax is stupid in any case. The money transferring to a family member does not make it new income. It is money that has already been income or dividends or whatnot and in theory already taxed, so why should a grieving family member have to pay taxes on it. This is a burden on many people who are just regular working people. I know the government needs to get more money to pay for all of the things that we all enjoy, but I think just taxing the rich people at a more appropriate rate without all of the loopholes we allow etc. would be a better way to handle it.

Estate Tax - Wrong

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Ms. Clinton's current proposal for the estate tax is 50% rate applied to estates worth over $10 million per person, 55% for estates over $50 million, and 65% for estates exceeding $500 million. I don't think most of us have to worry too much about an estate tax. Even the current rules won't apply to most of U.S. taxpayers. You can be assured that anybody with the assets mentioned above will do their best to get the assets transferred to whoever is supposed to get them before the person with the estate dies - and I think you also be pretty sure that the transfers will be tax-free. After all, that's why rich people invest in Congress.


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