Clintons exploiting loopholes to bypass high estate taxes which they strongly support

[Jroc]

More do as I say not as I do with these political elitist...

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. Among the tax advantages of such trusts is that any appreciation in the house’s value can happen outside their taxable estate. The move could save the Clintons hundreds of thousands of dollars in estate taxes, said David Scott Sloan, a partner at Holland & Knight LLP in Boston. “The goal is really be thoughtful and try to build up the nontaxable estate, and that’s really what this is,” Sloan said. “You’re creating things that are going to be on the nontaxable side of the balance sheet when they die.” … In her last campaign, Clinton supported making wealthier people pay more estate tax by capping the per-person exemption at $3.5 million and setting the top rate at 45 percent, a policy Obama still supports.

Surprise: Clintons exploiting loopholes to bypass high estate taxes ? which they strongly support, natch « Hot Air

 

[KNB]

Rich people exploiting the system that rich people set up for themselves? That's unheard of!

 

[Jroc]

Rich people exploiting the system that rich people set up for themselves? That's unheard of!

The Clintons are the 'Good rich' in liberal lah..lah..land

 

[Vigilante]

Rich LIBERAL people exploiting the system that richLIBERAL people set up for themselves? That's unheard of!

At least get something correct, KNoB Job!

 

[KNB]

Hur hur fucking dur! Good one, subversive! You're smart.

Who wrote the tax code? Poor people on food stamps? No, it was rich people who can afford high-priced tax attorneys to find and exploit all of the little loopholes that rich people wrote into the tax code. Money doesn't care what political party you identify with. There are only two political parties in the US- rich and poor.

 

[Jroc]

Hur hur fucking dur! Good one, subversive! You're smart.

Who wrote the tax code? Poor people on food stamps? No, it was rich people who can afford high-priced tax attorneys to find and exploit all of the little loopholes that rich people wrote into the tax code. Money doesn't care what political party you identify with. There are only two political parties in the US- rich and poor.

Politicians and crony capitalist..conservatives want to simplify the tax code, and cut out the loopholes and lower rates for everyone...Liberals want more loopholes

 

[Clementine]

If they really believed that paying those taxes was the right thing to do, they would do it. They want us to pay, yet they find ways around it. Of course, the liberals love the wealthy as much as anyone and those loopholes are designed for people like themselves. It's the average person that is a victim of their policies.

Funny that the liberal here acts as if it's no big deal and refuses to acknowledge the utter hypocrisy of these people. It's not okay for them to pretend to be for the little guy, then ensure that only the little people will end up paying for everything while they laugh all the way to the bank.

I realize that the socialist, Marxists and communists here are rooting for the collapse of this country so Obama and his ilk can complete the fundamental change. I suppose some are so eager to see capitalism end that they don't even care how corrupt the leaders are. That is so shortsighted.

 

[Vigilante]

Hur hur fucking dur! Good one, subversive! You're smart.

Who wrote the tax code? Poor people on food stamps? No, it was rich people who can afford high-priced tax attorneys to find and exploit all of the little loopholes that rich people wrote into the tax code. Money doesn't care what political party you identify with. There are only two political parties in the US- rich and poor.

No you Jackass, it was lobbyists with help from their DONOR BOUGHT Subversive Democarts.... Look up who is the richest in Congress, and let us all know!

 

[KNB]

Conservatives want to simplify the tax code, huh? Which Conservatives want to simplify the tax code and why haven't they tried to simplify it yet? Is it because they've spent the past 6 years trying to repeal Obamacare, find some impeachable offense somewhere in the Benghazi attack, or defend Bush's lies and war crimes?

 

[Vigilante]

Conservatives want to simplify the tax code, huh? Which Conservatives want to simplify the tax code and why haven't they tried to simplify it yet? Is it because they've spent the past 6 years trying to repeal Obamacare, find some impeachable offense somewhere in the Benghazi attack, or defend Bush's lies and war crimes?

 

[KNB]

Hur hur fucking dur! Good one, subversive! You're smart.

Who wrote the tax code? Poor people on food stamps? No, it was rich people who can afford high-priced tax attorneys to find and exploit all of the little loopholes that rich people wrote into the tax code. Money doesn't care what political party you identify with. There are only two political parties in the US- rich and poor.

No you Jackass, it was lobbyists with help from their DONOR BOUGHT Subversive Democarts.... Look up who is the richest in Congress, and let us all know!

I'm not sure. This one says that it's Republican Michael McCall, R- Texas.
The 50 Richest Members of Congress — 112th : Roll Call

This one says that its Darrell Issa.
Wealthiest Members of Congress - 2012 and 2013

And this one also says that it's Darrell Issa.
The richest (and poorest) in Congress - CNNMoney

I'll guess that it's Darrell Issa.
10 richest members of Congress « Bankrate, Inc.

 

[KNB]

If they really believed that paying those taxes was the right thing to do, they would do it. They want us to pay, yet they find ways around it. Of course, the liberals love the wealthy as much as anyone and those loopholes are designed for people like themselves. It's the average person that is a victim of their policies.

Funny that the liberal here acts as if it's no big deal and refuses to acknowledge the utter hypocrisy of these people. It's not okay for them to pretend to be for the little guy, then ensure that only the little people will end up paying for everything while they laugh all the way to the bank.

I realize that the socialist, Marxists and communists here are rooting for the collapse of this country so Obama and his ilk can complete the fundamental change. I suppose some are so eager to see capitalism end that they don't even care how corrupt the leaders are. That is so shortsighted.

Okay, fuckmonkey, I'll admit that Hillary Clinton is a rich, two-faced lying Skeksis. That wasn't difficult.

Now it's your turn. Admit that Bush lied to invade Iraq and squandered trillions of taxpayers' dollars.
The Record on CURVEBALL

 

[Vigilante]

Hur hur fucking dur! Good one, subversive! You're smart.

Who wrote the tax code? Poor people on food stamps? No, it was rich people who can afford high-priced tax attorneys to find and exploit all of the little loopholes that rich people wrote into the tax code. Money doesn't care what political party you identify with. There are only two political parties in the US- rich and poor.

No you Jackass, it was lobbyists with help from their DONOR BOUGHT Subversive Democarts.... Look up who is the richest in Congress, and let us all know!

I'm not sure. This one says that it's Republican Michael McCall, R- Texas.
The 50 Richest Members of Congress — 112th : Roll Call

This one says that its Darrell Issa.
Wealthiest Members of Congress - 2012 and 2013

And this one also says that it's Darrell Issa.
The richest (and poorest) in Congress - CNNMoney

I'll guess that it's Darrell Issa.
10 richest members of Congress « Bankrate, Inc.

Yes, 7 (SEVEN DEMOCRATS) and 3 Republicans on all those lists.... Do Democraps OUTNUMBER Republicans by more than 2 (TWO) to 1 (ONE).... You dumb bastard!

 

[KNB]

"Who is the richest member of Congress?" Your question, I answered. Darrell Issa. Republican.

And your response is, "Well, Democrats are rich, too!" No shit, brainiac? Money doesn't have party loyalty and rich people run the US Federal government? What a revelation! Learning is fun.

 

[Vigilante]

If they really believed that paying those taxes was the right thing to do, they would do it. They want us to pay, yet they find ways around it. Of course, the liberals love the wealthy as much as anyone and those loopholes are designed for people like themselves. It's the average person that is a victim of their policies.

Funny that the liberal here acts as if it's no big deal and refuses to acknowledge the utter hypocrisy of these people. It's not okay for them to pretend to be for the little guy, then ensure that only the little people will end up paying for everything while they laugh all the way to the bank.

I realize that the socialist, Marxists and communists here are rooting for the collapse of this country so Obama and his ilk can complete the fundamental change. I suppose some are so eager to see capitalism end that they don't even care how corrupt the leaders are. That is so shortsighted.

Okay, fuckmonkey, I'll admit that Hillary Clinton is a rich, two-faced lying Skeksis. That wasn't difficult.

Now it's your turn. Admit that Bush lied to invade Iraq and squandered trillions of taxpayers' dollars.
The Record on CURVEBALL

How did Bush lie when Saddam broke the Gulf War I Treaty, simply by shooting at our planes, and had 16 U.N. resolutions against him, BUt this is more than relevant!

The Inspections Dodge
Why are France and Germany pro-Saddam? Follow the money.

BY KHIDHIR HAMZA
Tuesday, February 11, 2003 12:01 a.m. EST

My 20 years of work in Iraq's nuclear-weapons program and military industry were partly a training course in methods of deception and camouflage to keep the program secret. Given what I know about Saddam Hussein's commitment to developing and using weapons of mass destruction, the following two points are abundantly clear to me: First, the U.N. weapons inspectors will not find anything Saddam does not want them to find. Second, France, Germany, and to a degree, Russia, are opposed to U.S. military action in Iraq mainly because they maintain lucrative trade deals with Baghdad, many of which are arms-related.

Since the passage of U.N. Security Council Resolution 1441 we have witnessed a tiny team of inspectors with a supposedly stronger mandate begging Iraq to disclose its weapons stockpiles and commence disarmament. The question that nags me is: How can a team of 200 inspectors "disarm" Iraq when 6,000 inspectors could not do so in the previous seven years of inspection?

Put simply, surprise inspections no longer work. With the Iraqis' current level of mobility and intelligence the whole point of inspecting sites is moot. This was made perfectly clear by Colin Powell in his presentation before the U.N. last week. But the inspectors, mindless of these changes, are still visiting old sites and interviewing marginal scientists. I can assure you, the core of Iraq's nuclear-weapons program has not even been touched. Yesterday's news that Iraq will "accept" U-2 surveillance flights is another sign that Saddam has confidence in his ability to hide what he's got.

Meanwhile, the time U.N. inspectors could have used gathering intelligence by interviewing scientists outside Iraq is running out. The problem is that there is nothing Saddam can declare that will provide any level of assurance of disarmament. If he delivers the 8,500 liters of anthrax that he now admits to having, he will still not be in compliance because the growth media he imported to grow it can produce 25,000 liters. Iraq must account for the growth media and its products; it is doing neither.

Iraq's attempt to import aluminum tubes of higher tensile strength than is needed in conventional weapons has been brushed aside by the IAEA's Mohammed El-Baradei. He claims there is no proof that these tubes were intended for modification and use in centrifuges to make enriched uranium. Yet he fails to report that Iraq has the machining equipment to thin these tubes down to the required thickness (less than one millimeter) for an efficient centrifuge rotor. What's more, they don't find it suspect that Iraq did not deliver all the computer controlled machining equipment that it imported from the British-based, Iraqi-owned Matrix-Churchill that manufacture these units.

Mr. Blix also discounted the discovery of a number of "empty" chemical-weapons warheads. What he failed to mention is that empty is the only way to store these weapon parts. The warheads in question were not designed to store chemicals for long periods. They have a much higher possibility of leakage and corrosion than conventional warheads. Separate storage for the poisons is a standard practice in Iraq, since the Special Security Organization that guards Saddam also controls the storage and inventory of these chemicals.





What has become obvious is that the U.N. inspection process was designed to delay any possible U.S. military action to disarm Iraq. Germany, France, and Russia, states we called "friendly" when I was in Baghdad, are also engaged in a strategy of delay and obstruction.
In the two decades before the Gulf War, I played a role in Iraq's efforts to acquire major technologies from friendly states. In 1974, I headed an Iraqi delegation to France to purchase a nuclear reactor. It was a 40-megawatt research reactor that our sources in the IAEA told us should cost no more than $50 million. But the French deal ended up costing Baghdad more than $200 million. The French-controlled Habbania Resort project cost Baghdad a whopping $750 million, and with the same huge profit margin. With these kinds of deals coming their way, is it any surprise that the French are so desperate to save Saddam's regime?

Germany was the hub of Iraq's military purchases in the 1980s. Our commercial attaché, Ali Abdul Mutalib, was allocated billions of dollars to spend each year on German military industry imports. These imports included many proscribed technologies with the German government looking the other way. In 1989, German engineer Karl Schaab sold us classified technology to build and operate the centrifuges we needed for our uranium-enrichment program. German authorities have since found Mr. Schaab guilty of selling nuclear secrets, but because the technology was considered "dual use" he was fined only $32,000 and given five years probation.

Meanwhile, other German firms have provided Iraq with the technology it needs to make missile parts. Mr. Blix's recent finding that Iraq is trying to enlarge the diameter of its missiles to a size capable of delivering nuclear weapons would not be feasible without this technology transfer.

Russia has long been a major supplier of conventional armaments to Iraq--yet again at exorbitant prices. Even the Kalashnikov rifles used by the Iraqi forces are sold to Iraq at several times the price of comparable guns sold by other suppliers.





Saddam's policy of squandering Iraq's resources by paying outrageous prices to friendly states seems to be paying off. The irresponsibility and lack of morality these states are displaying in trying to keep the world's worst butcher in power is perhaps indicative of a new world order. It is a world of winks and nods to emerging rogue states--for a price. It remains for the U.S. and its allies to institute an opposing order in which no price is high enough for dictators like Saddam to thrive.

Mr. Hamza, a former director of Iraq's nuclear-weapons program, is the co-author of "Saddam's Bombmaker: The Terrifying Inside Story of the Iraqi Nuclear and Biological Weapons Agenda" (Scribner, 2000).

 

[Vigilante]

"Who is the richest member of Congress?" Your question, I answered. Darrell Issa. Republican.

And your response is, "Well, Democrats are rich, too!" No shit, brainiac? Money doesn't have party loyalty and rich people run the US Federal government? What a revelation! Learning is fun.

Are you that stupid that I must direct you, by the hand, to acknowledge that the RICHEST in Congress, are 7 Democrats, and 3 Republicans...apparently YES, you are THAT STUPID!

Wait, it is MY FAULT, that I didn't SPELL IT OUT FOR the 2 digit IQ crowd, I must remember they take things literally, have NO common sense! Like dealing with 2 year olds!

 

[Jroc]

Conservatives want to simplify the tax code, huh? Which Conservatives want to simplify the tax code and why haven't they tried to simplify it yet? Is it because they've spent the past 6 years trying to repeal Obamacare, find some impeachable offense somewhere in the Benghazi attack, or defend Bush's lies and war crimes?

Obamacare is more crony deals genius

 

[Moonglow]

It's not whether you win or lose, but how you play the game......bull shit....

tax avoision at it's best....learn the game folks....that is why it's there...

 

[paulitician]

Most corrupt people in our Country. Everyone should strongly oppose allowing them back in power.

 

[bendog]

I'm in favor of the estate tax, but I have no problem when people use trusts. The Fords for instance keep majority control by having a foundation vote Ford shares. The Ford Foundation, the Johnson and Johnson Foundation all do good things. The problem would arise if you had a guy like Woody Johnson, who cannot competently run a NFL football team where it is IMPOSSIBLE to lose money, try to run a major multi-national corporation.

Just because someone is born rich doesn't confer some status of competent or even not borderline stupid.

So, the Clintons want to leave their real estate to Chelsea. BFD. The estate tax is about a concentration of wealth and power in the hands of a few .... like the Kochs or Mellon Scafides or Soros. Imagine how more dangerous they'd be without it.