Do as we say, not as we do.
In a classic case of liberal double standards, Bill and Hillary Clinton are enjoying the use of the very tax loopholes they want to end for average Americans.
Richard Rubin of Bloomberg reports:
Wealthy Clintons Use Trusts to Limit Estate Tax They Back
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.
Guy Benson at Hot Air adds this:
It seems as though Mrs. Clinton’s comfort level with being fabulously wealthy is on the rise, even as average Americans’ incomes declined during the recession, then flat-lined. Maybe “massive inherited wealth” isn’t such a bad thing after all…if the beneficiaries are uniquely worthy, that is. Like, say, Chelsea and family.
Even the left leftist gossip site Gawker can’t provide cover on this subject:
America has treated the Clinton family pretty well. They’ve become millionaires many times over. But a new report says that even as they support policies to tax the estates of the extreme wealthy, they try to avoid those taxes on their own wealth.
Democrats have made it quite clear that they intend to make income inequality part of their platform in 2014 and 2016. Will all Americans be allowed to take advantage of the same wealth building policies that have benefited the Clinton family?
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