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Title: Hillary Clinton Tax Returns: See Full Details
Source: Huffington Post
URL Source: http://www.huffingtonpost.com/2008/ ... clinton-tax-retur_n_95127.html
Published: Apr 4, 2008
Author: Huffington Post
Post Date: 2008-04-04 17:02:26 by nolu_chan
Keywords: None
Views: 200
Comments: 9

Hillary Clinton Tax Returns: See Full Details

The Huffington Post | April 4, 2008 03:25 PM

Sen. Hillary Clinton's campaign has released her 2000-2006 joint tax returns, showing nearly $109.2 million in income over the last seven years.

The key details from Clinton's website:

TAXES PAID: $33,783,507

The Clintons paid $33,783,507 in federal taxes - 31% of their adjusted gross income. According to the most recent data available from the IRS, in 2005 taxpayers earning $10,000,000 or more paid on average 20.8% of their adjusted gross income in taxes.

CHARITABLE CONTRIBUTIONS: $10,256,741

The Clintons donated $10,256,741 to charity - 9.5% of their adjusted gross income. According to the most recent data available from the IRS, in 2005 taxpayers earning $10,000,000 or more contributed 3.1% of their adjusted gross income in cash contributions to charity. Information about the Clinton Family Foundation, including a list of charities to which the Clintons contributed through the Foundation, is available online in the Foundation's publicly available tax returns (www.foundationcenter.org).

AFTER TAX EARNINGS: $57,157,297

CUMULATIVE TOTAL(GROSS) INCOME: $109,175,175

Including, among other items:

* Senator Clinton's Senate Salary: $1,051,606 * President Clinton's Presidential Pension: $1,217,250 * Senator Clinton's Book Income: $10,457,083 * President Clinton's Book Income: $29,580,525 * President Clinton's Speech Income: $51,855,599

"The Clintons have now made public thirty years of tax returns, a record matched by few people in public service," Clinton spokesman Jay Carson said in a statement. "None of Hillary Clinton's presidential opponents have revealed anything close to this amount of personal financial information."

+++

Questions about Clinton's tax returns have dogged her throughout the election season, particularly in March when Sen. Barack Obama released his returns.

Any interesting content in the returns may take some time to uncover, according to MSNBC:

While today could be the day the Clinton campaign releases its post-White House tax returns, it may takes days before the media does its scrub. While many an insider may be most interested in Bill Clinton's income and various business deals, the bigger impact may simply be the amount of money the former first couple has made over the last seven years. Will those working class voters Clinton is appealing to be turned off by their wealth?

Post Comment   Private Reply   Ignore Thread  

#1. To: All (#0)

AFTER TAX EARNINGS: $57,157,297

CUMULATIVE TOTAL(GROSS) INCOME: $109,175,175

Including, among other items:

* Senator Clinton's Senate Salary: $1,051,606
* President Clinton's Presidential Pension: $1,217,250
* Senator Clinton's Book Income: $10,457,083
* President Clinton's Book Income: $29,580,525
* President Clinton's Speech Income: $51,855,599

The stated gross income is $109,175,175.

The specifically listed income adds up to $94,162,063.

That appears to leave $15,013,112 in "mystery" income.

nolu_chan  posted on  2008-04-04   17:23:08 ET  Reply   Trace   Private Reply  

But they want back at the trough.

Dump them all. New electeds get $8 an hour, and no medical benefits or pension. They must immediately pay for their own food and protection. They can hold no stock. They can serve one term then reclaim their public service in the private sector caring for Veterans.

"The truth that makes men free is for the most part the truth which men prefer not to hear." -- Herbert Sebastien Agar (1897-1980) Source: The Time for Greatness, 1942

Peppa  posted on  2008-04-04   17:25:36 ET  Reply   Trace   Private Reply  

New electeds get $8 an hour, and no medical benefits or pension. They must immediately pay for their own food and protection. They can hold no stock.

Or maybe they cannot keep income above a certain set amount. All overage would go to the Treasurer of the U.S. and be deposited in the U.S. general fund.

Then again, they could get zero income and no benefits and their friends and family members would suddenly get rich working for lobbyists or corporate concerns. They would cash in upon leaving office. When the whole system is corrupt, it is hard to do anything about it.

nolu_chan  posted on  2008-04-04   18:05:15 ET  Reply   Trace   Private Reply  

That appears to leave $15,013,112 in "mystery" income.

Any guesses?

'Individuals should not take responsibility for their own defense. That’s what the police are for. ... If I oppose individuals defending themselves, I have to support police defending them. I have to support a police state.”' Alan Dershowitz

robin  posted on  2008-04-04   18:07:47 ET  Reply   Trace   Private Reply  

Or maybe they cannot keep income above a certain set amount. All overage would go to the Treasurer of the U.S. and be deposited in the U.S. general fund.

Then again, they could get zero income and no benefits and their friends and family members would suddenly get rich working for lobbyists or corporate concerns. They would cash in upon

Hmmm... I have an idea about this too..

I must return to the lab and think about it......... ;) Bwaaaaaaaahahahahah..

"The truth that makes men free is for the most part the truth which men prefer not to hear." -- Herbert Sebastien Agar (1897-1980) Source: The Time for Greatness, 1942

Peppa  posted on  2008-04-04   18:49:03 ET  Reply   Trace   Private Reply  

[nc] That appears to leave $15,013,112 in "mystery" income.

[robin] Any guesses?

YUCAIPA and few similar involvements

=============

weblogs.newsday.com/news/...axes_yucaipa_infousa.html

NEWSDAY.COM

Clinton taxes: Yucaipa, InfoUSA, Quellos

A few notes from a first review of the Clinton taxes:

1. There is more than $12.4 million in partnership income from Yucaipa Cos., the investment vehicle of Clinton billionaire buddy Ron Burkle. In 2007, there's another $2.75 million in partnership income that likely also comes from Yucaipa. But we don't have an actual return, and the Clinton information sheet doesn't say specifically that it's Yucaipa.

2. At least $800,000 in income from InfoUSA, owned by somewhat controversial Clinton friend Vin Gupta.

3. The Clintons' charitable giving (largely to their foundation) is impressive at $10 million. But the biggest chunk, $3 million, came last year, as she ran for president. They gave $2.5 million in 2004, $1.75 in 2005.

4. Also worthy of note: The returns list various investments in an entities with the name Quellos -- s/a Quellos Alpha Engine LP. Politico suggests this may connect to a somewhat notorious tax shelter promoter.

Posted by John Riley on April 4, 2008 6:08 PM | Permalink

==========

online.wsj.com/public/art...SB120097424021905843.html

Bill Clinton May Get Payout of $20 Million
By JOHN R. EMSHWILLER
Wall Street Journal
January 22, 2008; Page A1

Former President Clinton stands to reap around $20 million -- and will sever a politically sensitive partnership tie to Dubai -- by ending his high-profile business relationship with the investment firm of billionaire friend Ron Burkle.

Mr. Clinton is negotiating to end his relationship with Mr. Burkle's Yucaipa Cos. as part of a broader effort to protect the presidential campaign of his wife, Sen. Hillary Clinton, from potential conflicts of interest. Details of Mr. Clinton's involvement in Yucaipa and his efforts to unwind it come from documents and interviews with people familiar with the matter.

[snip]

==========

www.drudge.com/news/106221/clinton-income-109-million

The annual disclosures do not require Sen. Clinton to fully report her husband's income, which obscures the picture of how much the former president has made in his business dealings with longtime friends and fundraisers.

For example, an examination of the records reveals her husband is a partner in an investment fund, Yucaipa Global Partnership, registered in the Cayman Islands, and was paid "guaranteed payments to partner." Sen. Clinton's forms do not list the exact amount of her husband's payments, only that they totaled more than $1,000 over four years.

"No average person has interest and funds in the Cayman Islands. This is all the above-average, non-tax-paying, super rich," said Jack Blum, an attorney and leading expert on offshore tax havens.

Jay Carson, a spokesperson for Sen. Clinton's presidential campaign, said the Yucaipa global fund was organized in the Cayman Islands to attract foreign investors. "Each investor or partner in the fund pays the taxes they owe in their home country. For U.S. citizens like Bill Clinton, that means he pays U.S. taxes on his income from this fund, which he does," said Carson.

The exact amount he has made from his involvement in the fund remains undisclosed.

==========

www.huffingtonpost.com/20...-a-case-stud_n_85854.html

The Clintons: A Case Study In Money And Politics
February 9, 2008 10:31 PM
Thomas B. Edsall
The Huffington Post

. . .

Other of the Clinton's income sources are far more difficult to ascertain -- for instance, the flow of cash from billionaire investor Ron Burkle and his Yucaipa companies.

In each of Senator Clinton's past four disclosure statements - 2003-2006 -- there is a line item that reveals only that Bill Clinton received "guaranteed payments to partner" of "over $1,000" from Burkle's Yucaipa.

The disclosure forms do not explain what the guarantee is, and they leave to the imagination how much over $1,000 the annual amounts are. President Clinton, according to news accounts, has helped Burkle in his business dealings.

In her financial disclosure statements, Hillary Clinton lists two seemingly modest investments in Burkle companies, under the category of "Non-Publicly Traded Assets and Unearned Income Sources." One investment in Yucaipa Global Holding is described as worth less than $1,000, while producing interest income of $200 to $1,000 annually. The other, in the Yucaipa Global Partnership Fund, is also listed as being worth less than $1,000, while producing interest payments of $1,000 to $2,500 a year.

Except for honoraria, which must be described in detail, federal disclosure requirements are much more stringent for the elected official than for his or her spouse. The forms declare: "For your spouse, report the source (name and address) and the type of earned income which aggregate $1,000 or more during the reporting period. No amount needs to be specified for your spouse."

Bill Clinton's financial ties to the Yucaipa Companies were first made public on April 11, 2002, when the firm issued a press release announcing that Clinton "will provide counsel to Yucaipa and its investment funds including the Yucaipa American Fund (YAF) and the Yucaipa Corporate Initiative Fund (YCIF). Mr. Clinton will participate in events related to the funds and provide advice in the development of potential investments....Ron Burkle, managing partner of The Yucaipa Companies, said, 'We are proud that President Clinton will serve as a Senior Advisor to our firm.'"

In April 2008, the New York Times reported that

"After leaving the White House in 2001, former President Bill Clinton was inundated with business and job offers, from investment-bank partnerships to seats on corporate boards. He turned them all down, with one exception: He agreed to be an adviser to a family of funds run by the Yucaipa Companies, a California private equity firm controlled by one of his best friends, the billionaire Ronald W. Burkle."

"The Senator reports all disclosable financial information," Howard Wolfson, Hillary Clinton's communications director, responded in an emailed reply to a series of questions from The Huffington Post.

Matt McKenna, Bill Clinton's press secretary, wrote: "My understanding is Howard answered your Qs. Hope you got everything you needed. Please direct follow-ups on this issue to him."

The former president is said to be currently negotiating an end to his financial relationship with Burkle, in order to avoid conflicts of interest if his wife should become president. The settlement will result in the payment of a substantial sum - the Wall Street Journal reported on January 22 that the figure will be in the $20 million range - but aides to both Bill and Hillary Clinton are unwilling to shed any light on this matter.

Wolfson, referring to the WSJ story, said, "Contrary to published reports, neither the level of President Clinton's compensation for his advisory role, nor the value of his partnership share in the Yucaipa global fund upon his exit, has been determined."

In December, Douglas J. Band, a spokesman for Bill Clinton, told The Huffington Post that the former president "anticipates continuing his business relationships as long as they permit him to devote time to his highest priorities - the work of his foundation and supporting his wife's candidacy. He of course is taking steps now to ensure that should she receive the nomination, there will be an appropriate transition for those relationships."

There are a number of reasons the Yucaipa ties could prove embarrassing to the Clintons.

Bloomberg News on December 17 reported that three of the Yucaipa funds are registered in the Cayman Islands. Senator Clinton, in 2004, declared that she intended to close tax loopholes for "people who create a mailbox, or a drop, or send one person to sit on the beach in some island paradise and claim that it is their offshore headquarters."

Along similar lines, the WSJ's January 22 story pointed out that Clinton has an interest in Yucaipa Global Partnership Fund, making him a partner with the Dubai Investment Group, "an entity connected to the ruler of Dubai, Sheikh Mohammed bin Rashid al-Maktoum." Senator Clinton, according to the WSJ, had separately raised questions about investment funds controlled by foreign governments, because the funds "could be used by foreign governments as 'instruments of foreign policy."

On a much broader scale, Bill Clinton's involvement with the Yucaipa funds raises a basic ethical question for Hillary Clinton, both in connection with her presidential bid and in connection with her service in the U.S. Senate: The purpose in hiring Bill Clinton is to use the connections he had made as President to gain access and to make lucrative deals -- a commonplace but controversial practice regarding former officeholders, a practice with little or no public support - and the money made from these activities in the Clintons' case becomes part of Bill and Hillary's jointly held assets, according to Senator Clinton's communications director.

In other words, money from Yucaipa and the interests it deals with - running the gamut from public employee pension funds to supermarket chains to the Dubai Investment Group - is directly benefiting Hillary Clinton, an incumbent politician charged with voting on issues crucially important to the profits of Yucaipa, its clients, partners and investors.

==========

nolu_chan  posted on  2008-04-04   19:19:25 ET  Reply   Trace   Private Reply  

On a much broader scale, Bill Clinton's involvement with the Yucaipa funds raises a basic ethical question for Hillary Clinton, both in connection with her presidential bid and in connection with her service in the U.S. Senate: The purpose in hiring Bill Clinton is to use the connections he had made as President to gain access and to make lucrative deals -- a commonplace but controversial practice regarding former officeholders, a practice with little or no public support - and the money made from these activities in the Clintons' case becomes part of Bill and Hillary's jointly held assets, according to Senator Clinton's communications director.

In other words, money from Yucaipa and the interests it deals with - running the gamut from public employee pension funds to supermarket chains to the Dubai Investment Group - is directly benefiting Hillary Clinton, an incumbent politician charged with voting on issues crucially important to the profits of Yucaipa, its clients, partners and investors.

lol, thanks!

I wonder what John and Cindy McCain's tax returns look like.

'Individuals should not take responsibility for their own defense. That’s what the police are for. ... If I oppose individuals defending themselves, I have to support police defending them. I have to support a police state.”' Alan Dershowitz

robin  posted on  2008-04-04   19:22:18 ET  Reply   Trace   Private Reply  

I wonder what John and Cindy McCain's tax returns look like.

John McCain married a great deal of wealth. A great deal of family wealth was bequeathed to Cindy Hensley McCain. It has its origins in criminal enterprise. The history of the wealth itself is interesting.

www.azstarnet.com/sn/byauthor/187543

Disclosures show McCain's wealth comes held by wife Cindy
By Devlin Barrett
Associated Press
Tucson, Arizona | Published: 06.14.2007

Republican Sen. John McCain's family wealth is almost exclusively held by his wife, Cindy. An heiress to a major beer distribution company, Cindy McCain has several trust funds, money markets and other accounts, some more than $1 million.

www.bostonherald.com/news...rticleid=1084771&srvc=rss

Wife’s beer fortune gives McCain access to wealth, but the millions remain hers
By Associated Press

As heiress to her father’s stake in Hensley & Co. of Phoenix, Cindy McCain is an executive whose worth may exceed $100 million. Her beer earnings have afforded the GOP presidential nominee a wealthy lifestyle with a private jet and vacation homes at his disposal, and her connections helped him launch his political career — even if the millions remain in her name alone. Yet the arm’s-length distance between McCain and his wife’s assets also has helped shield him from conflict-of-interest problems.

Nearly 30 years before John McCain became the Republican presidential nominee, he worked in public relations at his wife’s family company.

Within a few years of marrying Cindy Hensley, the daughter of a multimillionaire Anheuser-Busch distributor, John McCain won his first election. He was new to Arizona politics and fundraising in the 1982 House race, and his campaign quickly fell into debt. Personal money — tens of thousands of dollars in loans to his campaign from McCain bank accounts — helped him survive.

Anheuser-Busch’s political action committee was among McCain’s earliest donors. Cindy McCain’s father, James Hensley, and other Hensley & Co. executives gave so much the Federal Election Commission ordered McCain to give some of it back. McCain’s campaign used Hensley office equipment such as computers and copiers, and Cindy McCain personally paid some of the campaign’s bills.

The campaign gradually reimbursed Hensley for use of its equipment and Cindy McCain for her expenses. The loans — described initially by John McCain as coming from him and his wife — caught the eye of the FEC, which repeatedly questioned him about them; spouses are held to the same donation limits as everyone else.

McCain told the FEC the loaned money came from his share of joint accounts. At the time, McCain reported drawing a $25,067 salary and $25,000 bonus working for Hensley in public relations and receiving a Navy pension of $11,038 a year; his 1982 financial disclosure report showed bank interest but didn’t say how much the bank accounts held.

McCain’s campaign debt grew to about $177,000 by the end of 1982. His 1984 House campaign repaid just under half the loans. McCain forgave about $93,000 in loans, a sizable personal donation to his inaugural campaign.

www.dailykos.com/story/2008/2/17/1520/13390/56/458621

DAILY KOS

All of McCain's Wealth Is From "Mobbed Up" Money, When DId it Become "Clean"?
by host
Sun Feb 17, 2008 at 01:26:33 PM PDT

www.phoenixnewtimes.com/2.../haunted-by-spirits/print

[very long article - excerpt below]

Haunted By Spirits

John McCain derived his wealth from his marriage to Cindy Hensley McCain, whose father started his road to riches as a bootlegger. As a politician, the senator has remained beholden to the liquor industry and the family business.

By Amy Silverman and John Dougherty
Published: February 17, 2000

Would United States Senator John McCain be a presidential contender if it weren't for his marriage to Cindy Hensley McCain, heiress to the Hensley liquor fortune?

It's doubtful. The senator's wife and -- more important -- his father-in-law, James Willis Hensley, are very wealthy people.

* * *

In fact, none of the liquor went to the retailers named in the invoices prepared by James Hensley. Nobody but James Hensley knows where it really went, and he never told authorities. He declined repeated requests to be interviewed for this story.

What is certain is that what occurred that December day was standard operating procedure for the Hensley brothers between April 1945 and January 1947. During this period, a 1948 federal criminal indictment charged, the Hensleys made approximately 1,284 false entries related to the sale of thousands of cases of liquor by their two companies -- United Sales Company in Phoenix and United Distributors in Tucson.

Ratliff's testimony eventually led to James and Eugene Hensley's conviction on federal conspiracy charges "with the intent and design to hide and conceal from the United States of America, the names and addresses of the person or persons to whom the said distilled spirits were sent, and the prices obtained from the sale thereof."

A federal jury in U.S. District Court of Arizona in March 1948 convicted James Hensley on seven counts of filing false liquor records in addition to the conspiracy charge. Eugene was convicted on 23 counts of filing false statements and the conspiracy count. Eugene was sentenced to one year in prison, and James to six months. Neither brother testified during the trial, relying instead on their lawyers, who included Louis B. Whitney, a prominent attorney who served as mayor of Phoenix from 1923 through 1925.

After a two-week stint in the Maricopa County jail, the men were released on bond on May 17, 1948, pending an appeal to the U.S. 9th Circuit. The appeals court affirmed the conviction on February 8, 1949.

Two weeks later, a judge sentenced Eugene to one year in a federal prison camp near Tucson, but suspended James' sentence, placing him on probation instead. Both men were fined $2,000. United Sales and United Distributors were also convicted and fined $2,000.

The criminal convictions had little immediate impact on the brothers' fortunes.

James Hensley profited handsomely from his association with liquor magnate Kemper Marley, a man police suspect ordered the 1976 murder of Arizona Republic reporter Don Bolles, who had written about Marley's business and political dealings. The man convicted of placing a bomb beneath Bolles' car testified that Marley also wanted former Arizona governor and then-attorney general Bruce Babbitt murdered because Babbitt had filed an antitrust lawsuit against the liquor industry in 1975. (Marley, who died in 1990, was never charged in the Bolles case. Babbitt is now U.S. Secretary of the Interior.)

By 1955, James Hensley had launched a Budweiser distributorship in Phoenix, a franchise reportedly bestowed upon him by Marley, who was never indicted in the 1948 federal liquor-law-violation case -- or a subsequent one -- despite his controlling financial role in the liquor distribution businesses.

James Hensley's conviction didn't deter the State of Arizona from granting him a wholesale liquor license in the mid-1950s. The Arizona Department of Liquor Licenses and Control turned a blind eye to repeated liquor-law violations at the company. State liquor regulators did nothing when James Hensley failed to disclose his federal felony conviction on a sworn 1988 disclosure statement to the department and the City of Phoenix.

Today, Phoenix-based Hensley & Company is the nation's fifth-largest beer wholesaler -- a privately held business that 80-year-old James Hensley still controls. He built the Budweiser distributorship into at least a $200 million-a-year business, with annual sales of more than 20 million cases of beer.

James Hensley owns nearly all of the voting stock, and most of the rest of the closely held securities are in trusts for his grandchildren or owned by his daughter, 45-year-old Cindy Hensley McCain -- wife of U.S. Senator and presidential hopeful John McCain.

By now, many Americans know John McCain's family story. His best-selling memoir, Faith of My Fathers, chronicles the lives of the senator's father and grandfather, distinguished admirals. The book takes readers up through John McCain's own military service, including his five and a half years as a prisoner of war in Vietnam. But Faith of My Fathers ends there, a few years short of John McCain's marriage to Cindy Hensley and the advent of his political career.

That's only half the family story.

The rest could be called "Cash of My Father-in-Law," a tale of how beer baron James W. Hensley's money and influence provided a complement to McCain's charisma and compelling personal story and launched him to a seat in Congress -- and perhaps to the White House.

Although Hensley wealth has helped propel McCain's political career, the senator will never get his hands directly on the Hensley fortune because of an antenuptial agreement he signed before his 1980 marriage.

* * *

nolu_chan  posted on  2008-04-04   20:41:55 ET  Reply   Trace   Private Reply  

bootlegger money and she looks the other way at his little affairs with lobbyists

'Individuals should not take responsibility for their own defense. That’s what the police are for. ... If I oppose individuals defending themselves, I have to support police defending them. I have to support a police state.”' Alan Dershowitz

robin  posted on  2008-04-04   21:31:30 ET  Reply   Trace   Private Reply  

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