Posted on 01/22/2015 2:36:27 AM PST by SoFloFreeper
Bill and Hillary are reportedly using tax advantaged strategies used by multimillionaires.
Bill and Hillary Clinton are finding their way around an estate tax they have long supported, a cause they said would prevent the U.S. from being overrun by inherited wealth.
The Clintons are employing a series of financial planning strategies that will help reduce the tax burden on future recipients, which can be as high as 40%, Bloomberg News reported.
(Excerpt) Read more at fortune.com ...
I put posted this because I want to remind people of the greed of the "dead broke" Clintons.
The mega-wealthy support inheritance taxes because they will not have to pay the tax. The Kennedy’s, for example, will be wealthy for generations to come, thanks to Joe Kennedy, who got his wealth through bootlegging. He set up trusts which are legal entities that don’t die and therefore can’t be taxed to (ah-hem) death. So, this illegally obtained money will be growing like an immortal investment and will be powering dynastic socialist politicians for the foreseeable future.
Ordinary people don’t have trusts because they cost thousands per year to maintain and ordinary people don’t have enough money to do that. So, ordinary wealth gets taxes unto death.
Timely too.
They created a foundation that will last in perpetuity. Its main underlying purpose is to provide funds and support to Clinton legacies/heirs in whatever they need so the personal recipients will not be responsible for the taxes of the benefits they receive.
That old TV medicare ad line you see “at no cost to me....” rings true here....
“...overrun by inherited wealth.” OMG!!!! What a horrible fate! Oh the huge manatee.
That’s funny.
Not quite. The significance of the date of Ted Kennedys' death is that the Kennedy trusts expire fifty years after his death ( See Rule against Perpetuities ) We still have a long way to go before we can get rid of Kennedy Trustafarians lecturing us about how we don't pay enough taxes.
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