Wealthy Clintons Use Trusts to Limit Estate Tax They Back

[Sunset Lady]

http://www.bloomberg.com/news/2014-06-1 ... -back.html


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.

The Clintons created residence trusts in 2010 and shifted ownership of their New York house into them in 2011, according to federal financial disclosures and local property records.

[re3too]

Is that why they are "broke"?

[imaposer]

Well, duh. Don't you take advantage of every tax break you can? The only person I know who doesn't is that Romney guy when he was running for president. After being caught in a lie about his tax rate, then saying he wouldn't be competent to be president if he didn't take advantage of every tax break he was eligible for, he went and did exactly that so his tax rate was close to what he said he paid. How'd that work out for him?

[katie]

I think Sunset Lady was making a reference to their character more than their right to tax loopholes and their ability to pay lawyers, accountants & tax experts to lead them.
Their (Clinton's & other politicians) "I believe" in it as long as "I" don't have to pay for it attitude". Ohhhh, no problem, we gotta a guy who can fix that!!

Wouldn't it be great if we all had that ability. (Opportuntity is there, not everyone can take it ) THAT is why there is a 1%.

I will die being a firm believer there should be NO tax breaks... PERIOD.

Nobody cheats, nobody gets deductions, even corporations. If you can't make your business run, close the d@mn doors. Cut govt in half right out of the gate.

Just gettin cranky in my old age I guess...

[E_]

[re3too]

I think Sunset Lady was making a reference to their character more than their right to tax loopholes and their ability to pay lawyers, accountants & tax experts to lead them.
Their (Clinton's & other politicians) "I believe" in it as long as "I" don't have to pay for it attitude". Ohhhh, no problem, we gotta a guy who can fix that!!

Wouldn't it be great if we all had that ability. (Opportuntity is there, not everyone can take it ) THAT is why there is a 1%.

I will die being a firm believer there should be NO tax breaks... PERIOD.

Nobody cheats, nobody gets deductions, even corporations. If you can't make your business run, close the d@mn doors. Cut govt in half right out of the gate.

Just gettin cranky in my old age I guess...

AMEN!

[Sunset Lady]

Thanks Katie, that is exactly what I was thinking. And Hillary continues to dig the hole deeper with her talk of being "broke" while in the White House

[katie]

Thanks Katie, that is exactly what I was thinking. And Hillary continues to dig the hole deeper with her talk of being "broke" while in the White House

Sure thing Sunset, it's all in how "you read it"

I'm sure she was broke with all of those mortgages to pay, lol..... open mouth, insert foot, lmao

Just shows how truly "out of touch with reality" politicians and anyone who truly has money to blow is these days.

[imaposer]

I will die being a firm believer there should be NO tax breaks... PERIOD.

Amen!


But with that said, I do take the child tax deduction and write off my second home every year.

[imaposer]

Thanks Katie, that is exactly what I was thinking. And Hillary continues to dig the hole deeper with her talk of being "broke" while in the White House

She sure does. No one wants to hear how rough those who are doing better than them have it.