On Friday Hillary Clinton publicly provided her tax returns for 2015 in the hopes of making a political move against Donald Trump, and perhaps forcing him to reveal his returns which are currently under audit. And while this unveiling of the Clinton family taxes appears to aid the perception that she isn’t a tax dodger through her being in the 34% tax bracket, when you look at her charitable contributions you find something rather interesting.
90% of her charitable contributions went… to herself.
Moments ago, when we showed the newly released Clinton 2015 tax return, we posted a rhetorical question: “how much of the Clinton charity donations went to the Clinton Foundation? Taking a deduction for contributing to the employer of your daughter and expense payer of your husband is awesome.”
We now know the answer: as page 29 of the tax return reveals, of the $1,042,000 in charitable cash contributions, exactly $1 million went to, you guessed it, the Clinton Family Foundation, whose expenses pay among others those Clinton family members and friends employed by the foundation, like Chelsea Clinton who happens to be the foundation’s Vice Chair. Is this the ultimate Clinton reacharound? – Zerohedge
The Clinton Foundation is not a charity at all, and has evaded scrutiny as a 501(c)3 because of cronyism within government agencies such as the IRS and Department of Justice. In fact, the original scope of the Foundation was simply to act as a vehicle to build and support the Bill Clinton library, but has morphed into being used for mechanisms far beyond this to include campaign funding and payoffs to political allies.
One of the most important things that the public never realizes is that the super rich use foundations to skirt paying their legally obligated tax liabilities. In fact, these entities that are created under the guise of being charities are simply vehicles to use as slush funds and for personal expenditures while never having to pay taxes on received income.
So while the Clinton family revealed on August 12 their annual income of just over $10.5 million, they have never revealed how much wealth they have accumulated yearly through their foundation, and especially through contributions made to it by foreign businesses and governments for favors done while Hillary was Secretary of State. And in the end yesterday’s publication of her tax return for 2015 is simply another ruse to try to change the public’s perspective of her being trustworthy, while behind the scenes her real wealth last year grew by hundreds of millions of dollars without a single dime of it being taxed.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com,Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.