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Clintons Hid Tax Dodge “Charity” 5 Years

From, of all places, the DNC’s Washington Post:

Clintons’ Charity Not Listed On Senate Disclosure Forms

By John Solomon and Matthew Mosk
Tuesday, February 27, 2007; A01

Sen. Hillary Rodham Clinton and former president Bill Clinton have operated a family charity since 2001, but she failed to list it on annual Senate financial disclosure reports on five occasions.

The Ethics in Government Act requires members of Congress to disclose positions they hold with any outside entity, including nonprofit foundations. Hillary Clinton has served her family foundation as treasurer and secretary since it was established in December 2001, but none of her ethics reports since then have disclosed that fact.

The foundation has enabled the Clintons to write off more than $5 million from their taxable personal income since 2001, while dispensing $1.25 million in charitable contributions over that period.

Clinton’s spokesman said her failure to report the existence of the family foundation and the senator’s position as an officer was an oversight. Her office immediately amended her Senate ethics reports to add that information late yesterday after receiving inquiries from The Washington Post.

"The details of the Clintons’ charitable family foundation and Senator Clinton’s role in it have always been publicly available, but, in an oversight that leaders of both parties have made, it was inadvertently omitted from her Senate filing, which has been corrected," Hillary Clinton’s press secretary, Philippe Reines, said yesterday

Among the institutions receiving grants from the Clinton Family Foundation were Yale University, where both attended law school; groups named for deceased heads of state in Israel and Jordan; and a charity connected to the Arkansas businessman who helped Hillary Clinton make $100,000 on a commodities trade that stirred controversy a decade ago, Internal Revenue Service reports show.

Hillary Clinton’s decision to amend her Senate disclosures comes after several other high-profile politicians came under scrutiny for omitting family foundations from their financial disclosure reports, including former Senate majority leader Bill Frist (R-Tenn.) and House Speaker Nancy Pelosi (D-Calif.). They amended their disclosures, and neither was penalized.

Advisers to the Clintons said the family foundation amounted to only a fraction of their overall charitable efforts, which generate millions each year.

The charity is separate from the New York-based William J. Clinton Foundation, which has directed $10 billion in corporate money and resources toward slowing the global spread of AIDS, addressing climate change, and reducing hunger and poverty in developing countries.

The smaller family foundation lists as its address a post office box in Chappaqua, N.Y., where the Clintons live. Hillary Clinton is listed as secretary and treasurer, Bill Clinton as president and the couple’s daughter, Chelsea, as a director. None takes any compensation.

The charity has been funded with money from lucrative book deals for both Clintons and from speechmaking by Bill Clinton since they left the White House in 2001. The foundation’s tax filings are available on an Internet repository for IRS documents. The only time the Clintons mentioned the foundation on her ethics report was in 2002, in a footnote about their $800,000 donation that year, but it did not disclose as required her position or other information about the foundation. In subsequent years, they made no mention of it.

Between 2001 and 2005, the Clintons seeded the charity with $5.16 million of their money. The foundation’s 2006 tax form is not due until later this year.

Tax records show the Clinton Family Foundation was created during Hillary Clinton’s first year in the Senate, when the couple gave $800,000 to launch the organization in early December 2001. The charity distributed no funds that year. The next year, the Clintons made $170,000 in donations while adding $100,000 of their own funds.

The Clintons donated much larger amounts in recent years as legal bills from Bill Clinton’s impeachment were paid off and their personal fortunes soared. At the end of 2005, the Clinton family foundation had nearly $4 million in cash assets…

Such omissions deprive the public of the right to scrutinize their political leaders’ financial dealings and identify possible conflicts of interest, the former chief of disclosure for the Federal Election Commission said.

Kent Cooper, who retired after two decades overseeing the FEC’s public disclosure office, said congressional ethics committees have not enforced the ethics disclosure requirements forcefully. As a result, he said, candidates "know there is no great consequences, and so the habit has developed that people dismiss an omission as a clerical error, when in fact it is a crucial piece of the puzzle about a member’s finances that is being hidden.

They list their donations of used underwear, but don’t list a charity they run on Hillary’s Senate "financial disclosure" forms?

Thankfully it was just "an oversight." We know how prone they are to those.

Of course this is merely a tax dodge setup to help shield the $40 million a year Bill is "earning" by influence peddling giving speeches all around the world, as also recently reported by the Washington Post.

Among the institutions receiving grants from the Clinton Family Foundation were… a charity connected to the Arkansas businessman who helped Hillary Clinton make $100,000 on a commodities trade that stirred controversy a decade ago,

It’s nice to see that the Clintons are finally getting around to paying off the gentleman who scammed them a cool $100,00 when they were earning a measly $30K a year.

It is surprising, however, to see that there are no homes for young nymphomaniacal girls listed among the recipients of their largess. (Those must be under the William J Clinton Foundation wing.)

But what has gotten into the Washington Post?

They are almost acting like a real newspaper lately.

Or maybe with the help of his Hollywood friends’ money, Obama was able to outbid the Clintons for their services this go around.

This article was posted by Steve on Tuesday, February 27th, 2007. Comments are currently closed.

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