Skip to comments.Peter Schweizer: Clintons Underpaid Taxes
Posted on 11/13/2005 4:48:38 PM PST by wagglebee
Just last week, Bill Clinton decried the Bush tax cuts as "unethical" and "immoral," because they allowed wealthy folks like himself to avoid "paying their fair share."
And Hillary, of course, has argued for years for higher taxes. She told wealthy San Francisco contributors during the 2004 presidential campaign, for instance, that if Democrats win, "we're going to take things away from you on behalf of the common good."
But in his blockbuster new book "Do As I Say, [Not As I Do]," Peter Schweizer blows the lid off the Clintons tax hypocrisy.
Schweizer sets the table with a quote from the former first taxpayer himself:
"I must be the only person in America that every time - I pay the maximum tax rates - every time I sign that tax form, I smile," Clinton recently explained.
However, as Schweizer discovered, the Clintons have been paying a good deal less than their fair share in taxes for years.
"A study of their income tax returns reveal that, since 1991, the Clintons paid on average about 7 percent less to the IRS than others in their income group," he writes. "While most Americans in their bracket were paying 27 percent in taxes, the Clintons were bumping along at 20 percent."
How did Bill and Hill keep their taxes so low? They did it the old fashioned way - they cheated.
According to a Money Magazine report unearthed by Schweizer, "The Clintons appear to have repeatedly overstated their charitable contributions."
What's more, according to Gaines Norton, the former first couple's one-time accountant, some of the Clintons' deductions were "probably illegal"
Norton told Whitewater probers that when he urged Mr. Clinton to pay his fair share, the then-Arkansas Governor told him: "Back off and leave the issue alone."
Other tax dodges employed by Bill and Hill include:
* Not reporting as income Hillary's $100,000 in profits from commodities trading. Instead, says Schweizer, they actually claimed a loss.
* The Clintons also failed to report as income "$74,234 in loans, payments, and forgiven debts that the IRS code counts as income."
* Then there's the personal property tax that was due on a sportscar Hillary owned, which first couple declined to pay.
* They also took thousands of dollars in deductions on their Whitewater investment that "Hillary admitted at the time she knew they were not entitled to."
* In a bid to further reduce their tax exposure, the Clintons set up a contract trust, which "among other things will allow them to substantially reduce the amount of inheritance tax their estate will have to pay when they die."
Given all the cash Clinton was saving by shortchanging the federal treasury, it's no wonder he was smiling when he signed his tax return.
" Not reporting as income Hillary's $100,000 in profits from commodities trading. Instead, says Schweizer, they actually claimed a loss."
This is a federal fraud felony............aw hell, just add it to the 5-600 OTHER felonies : )
This is typical for them though.... problem is, this story won't make it to ABCCBSNBCPBSCNNCNBC!
Move on...nothing to see.
Why in the world isn't the IRS going after these sorry ass people? Both these scumbags deserve to be wearing orange DC jumpsuits.
When all efforts to jail Capone failed, they finally locked him up for tax evasion.
Silly righty... laws are for conservatives. Well, they don't actually need a law. But prosecutions, those are definitely for conservatives, not Democrats repeatedly caught red-handed.
Hillary drives a car ??
: ) I forget which freeper listed all of their crimes. It ran well into the hundreds.....three or four pages, single space.
How about the 8 million she made from her book and the 12 million Clinton made from his.
They have about as much chance of getting audited as Jesse Jackson does. In other words no chance at all.
How about when Clinton claimed his old underwear as a charitable deduction. Skid marks and all.
No telling what Marc Rich and others sent to the secret off shore account.
It probably came with a year's supply of pantsuits.
Court Orders 'Deletions' in Clinton IRS Report
NewsMax ^ | 11/11/05 | NewsMax
Posted on 11/12/2005 8:36:17 PM EST by wagglebee
A three-judge panel overseeing Independent Counsel David Barrett's investigation into abuses by the Internal Revenue Service under the Clinton administration has ordered Barrett to make "discrete deletions" is the draft he submitted 15 months ago.
The deletion order "has stoked speculation that [it] has more to do with the next presidential campaign," reports the Wall Street Journal, noting widespread rumors that "the draft report contains information potentially embarrassing to another Clinton administration figure, former first lady and current New York Sen. Hillary Clinton."
"The one Clinton official rumored to be implicated in the report is former IRS Commissioner Margaret Richardson, a friend of the former first lady," the paper said.
The Clintons' lawfirm Williams & Connolly has reportedly filed numerous motions with the court in a bid to trim the report and stall its publication.
According to the Journal: "The judges agreed with [individuals named in the report] that some deletions were needed 'to protect extremely confidential information.' They also told Mr. Barrett to omit one section before publishing the report, but to include that material with the report to congressional leaders of both parties."
The section at issue is said to cover "investigations of alleged obstructions of justice and tax-related matters."
In 1997, then Commissioner Richardson denied allegations that her agency had targeted Clinton scandal witnesses and administration critics, despite ample evidence of selective scrutiny.
Clinton accusers Bill Dale, Gennifer Flowers, Elizabeth Ward Gracen and Juanita Broaddrick were all audited during the 1990s. Paula Jones, whose sexual harassment lawsuit led to Mr. Clinton's impeachment, was both audited and had her confidential tax returns leaked to the media.
Adding to the appearance of a massive abuse of power, conservative organizations like the National Rifle Association, the Heritage Foundation, and the Freedom Alliance were also slapped with audits during the Clinton years.
Reports last April on the Barrett investigation said his report zeroed in on Richardson's involvement. But a source familiar with the prosecutor's unedited draft told the Journal she isn't mentioned by name.
The paper said that congressional Republicans cried foul earlier this week over the plan to censor Barrett's report, proposing an amendment to an annual spending bill to release it without any deletions.
For his part, Mr. Barrett will only say: "When, and if, the report becomes known, people will understand more than they do now."
How many of the judges that ordered censorship of the report were appointed by Clinton?
"The one Clinton official rumored to be implicated in the report is former IRS Commissioner Margaret Richardson, a friend of the former first lady," the paper said."
And this wretch audited every Clinton antagonist, and every evangelical or conservative organization she could find. The IRS is a terrorist organization.
Of course if any of this were alleged against a Republican administration the MSM would be shouting about it all over the airwaves. Instead, hardly any of this has ever cracked the MSM, and if/when the report is finally released it will probably receive brief coverage on page A30 at best......
Yeah, just another case of "no controlling legal authority."
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