Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Hillaryís hypocrisy on the death tax: I support this tax. I just donít feel like paying it.
Hotair ^ | 04/18/2015 | Jazz Shaw

Posted on 04/18/2015 10:10:15 AM PDT by SeekAndFind

Earlier this week we took a look at the GOP efforts to repeal the death tax, including some of the political pitfalls involved as well as reasons why it’s still a hill worth fighting on. In a rare moment of taking a position on a policy issue, Hillary Clinton has chimed in on the so called estate tax several times over the years. She has referred to it as a “wealth tax”, which works out quite well for her this year if she’s trying to angle her way into a more Elizabeth Warren style position on the subject. So she’s in favor of it, right?

As the Republican National Committee pointed out this week, you always need to check and see which side of her mouth Hillary is speaking from and whether or not her actions match her words.

“Using Financial Planning Strategies Befitting The Top 1 Percent,” Clinton Has Shielded Her Estate From The Same Death Tax She Supports. “Bill and Hillary Clinton have long supported an estate tax to prevent the U.S. from being dominated by inherited wealth. That doesn’t mean they want to pay it. To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1 percent of U.S. households in wealth. These moves, common among multimillionaires, will help shield some of their estate from the tax that now tops out at 40 percent of assets upon death.” (David Montgomery, “The Clintons Are Coming And Chappaqua Braces,” The Washington Post, 9/4/99)

That seems to be a rather marked contrast from this, wouldn’t you say?

Clinton Has Called The Death Tax A “Wealth” Tax, But Shields Her Own Wealth From It. CLINTON: “The truth is, we do not have a death tax in America. There is no such thing as a death tax. People do not pay taxes at death. We have an estate tax, which is really a wealth tax that is based on people having a certain level of assets.” (Sen. Hillary Clinton, Congressional Record, 6/12/02, p. S5420)

The strategies in question involve setting aside assets in trusts, and such things are common among more than simply the super wealthy. And just to be clear, I don’t begrudge Bill or Hillary the option of taking advantage of trust funds and other strategies to manage their impressive wealth any more than I would deny them the opportunity to amass that wealth in the first place. This is America and everyone should have the chance to make their own fortune (provided their gains are legally gotten) no matter your political ideology. If the Clintons can manage to make a hundred million and they want to make sure it rolls on down to Chelsea and their new grandchild, more power to them.

But with that said, we are absolutely free to highlight the rather blatant hypocrisy on display here when the actions of the Clintons are so directly in contrast with the bunkum she tosses around in speeches such as the one highlighted in the Washington Post piece above. If you are opposed to the aggregation of generational wealth because it adds to the burden of income inequality, the least you could do is walk the walk. Pay the tax and spread that wealth around to your less affluent neighbors!

To give Hillary at least some credit here, this is perhaps one area where she’s been consistent. (Unlike her stance on ethanol, for example.) Back during her first run against Barack Obama in 2007 she was singing the same song.

Clinton Opposed Repealing The Death Tax While Running For President In 2007. HILLARY CLINTON: “Well, I do not believe the estate tax should be repealed. I think it has been very cleverly designated as a death tax; it’s really a tax to prevent us from having inherited wealth generation after generation which would really undermine the kind of spirit and meritocracy that the United States stands for. And there are a lot of economic reasons why it is just not affordable.” (CNBC’s “Fast Money,” 12/11/07)

Clinton In 2007: “I Will Strongly Support The Maintenance Of The Estate Tax.” (CNBC’s “Fast Money,” 12/11/07)

The Democrats all feel this is a “safe” position to take this year since it gets lumped in with populist tax policies in general, so it’s no surprise if Clinton is actually willing to take a stand on it. But as time wears on, she may get a surprise when she learns that working people who do manage to put something aside for their kids would like to be able to hold on to it.


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events; US: Arkansas; US: Iowa; US: New York; US: South Carolina; War on Terror
KEYWORDS: 2016election; april15; arkansas; benghazi; clinton; deathtax; election2016; hillary; hillaryclinton; hitlery; iowa; libya; newyork; southcarolina; taxevasion; treygowdy; waronterror

1 posted on 04/18/2015 10:10:15 AM PDT by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind
When his mother died the Senior Senator From Chappaquiddick was the executor of her estate...which was worth *many* millions of dollars.When she died she hadn't set foot outside of Massachusetts for 11 years.However,when filing the estate's tax return Teddy filed it in Florida rather than Massachusetts,claiming that she was a legal resident of Florida.The curious thing is that at the time of her death Massachusetts had a *huge* state death tax (levied *in addition to* the Federal tax) while Florida had none.
2 posted on 04/18/2015 10:18:32 AM PDT by Gay State Conservative (Obama;A Low Grade Intellect With Even Lower Morals)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Anyone can shield their estate through a trust or a charitable foundation. I read where Hillary paid for her house in New York via a check from her charitable foundation. That is a clear violation and should have resulted in her tax exempt status being cancelled. But the Clintons are exempt from ordinary laws. We are back in the middle ages where laws are for the peasants. The nobles can do as they please and are exempt.

Incidentally, my family trust cost (as I recall) about $10,000 to set up and $1,500 per year to maintain. We paid the lawyers 3% of the gross when my father died and they’ll get another 3% as each member dies. That’s why ordinary people don’t have trusts. Charitable foundations require millions.


3 posted on 04/18/2015 10:27:18 AM PDT by Gen.Blather
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

RODHAM ( ROYALS ) ( Wana deny I am a RODHAM Royal )

By Lording it over you.....
.......
.......

I never seen a peion in the flesh,

I cut my teeth on Benghazi lies, in the movies.

I have paid for my address, in a mystery van called, Scooby Do Be....

The RODHAM Royals : TAXES ARE FOR THEE AND NOT FOR ME.

Hey Hillary ? Remember ? Paying your “ fair share “ of taxes.


4 posted on 04/18/2015 10:35:58 AM PDT by American Constitutionalist (BeThe Keystone Pipe like ProjectR : build it already Congre)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

She says inheriting lots of money undermines the spirit is America. Here I thought the spirit of America was that anyone can move up the ladder by work and capitalism so they, too, can leave leave money to their family.


5 posted on 04/18/2015 11:20:53 AM PDT by Rusty0604
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

When the media ask a Republican candidate if they support repealing the death tax, they should do what Rand Paul did with the abortion question. Tell media to go ask Hilary and other wealthy democrats if they would support a bill that eliminates all tax “loop holes” the wealthy use to shield their fortunes.


6 posted on 04/18/2015 12:01:25 PM PDT by martinidon
[ Post Reply | Private Reply | To 1 | View Replies]

To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; cardinal4; ColdOne; ...

7 posted on 04/18/2015 12:19:05 PM PDT by SunkenCiv (What do we want? REGIME CHANGE! When do we want it? NOW!)
[ Post Reply | Private Reply | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson