While everyone was distracted with her emails (nothing very exciting dropped this time around, sorry), Hillary Clinton also released her tax returns.
Thanks, in part, to a breakneck routine of speeches, earning her around $50M, the self-described “Champion of the Poor” earned a whopping $139 million between 2007 and 2014, or around $20 million per year. That certainly puts her well within the 1% – ahead, even, of other champions of the poor like Elizabeth Warren (D-$8.5M Net Worth) – and well out of reach of most Americans who, shockingly, cannot subsist on giving speeches to large groups of people who have paid exhorbitant sums of money to listen to them while they aimlessly chew on rubber chicken.
Democratic presidential candidate Hillary Rodham Clinton and her husband, former President Bill Clinton, earned more than $139 million between 2007 and 2014, according to eight years of federal income tax returns released by her campaign on Friday.
The returns show that the Clintons paid an overall federal tax rate of 31.6 percent during those years. The bulk of the Clintons’ income came from speeches delivered to corporate and interest groups by Bill Clinton and later by Hillary Clinton after she resigned as secretary of state in early 2013.
In a statement released by her campaign, Hillary Clinton said the couple has paid nearly $44 million in federal taxes on $139.1 million in income since 2006, and donated nearly $15 million to charity.
“We’ve come a long way from my days going door-to-door for the Children’s Defense Fund and earning $16,450 as a young law professor in Arkansas — and we owe it to the opportunities America provides,” she said.
Her Federal tax rate was 31.6%, which fits nicely with her pledge to institute the Buffett rule, which wouldn’t touch Clinton anyway, since she and her husband still receive most of their income in the traditional way – as income, not as carried interest on stocks, or in payouts from long-term capital gains. Buffett (and Mitt Romney, among others), pay so little in taxes because they are not actively earning money, but rather, living off investments curated in such as a way as to provide a “pension” of sorts. Clinton has also pledged to close that “loophole” in tax law as well. So, I suppose, that’s convenient.
FYI, the “charity” that she’s donated to is the Clinton Family Foundation. How also convenient is it to have a charity for yourself? I should definitely try that. Anyone care to donate? I promise I’ll use your hard-earned funds on only the best vodka.
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