Hillary Clinton came of age during the Burn-the-Bra era of the Sixties, but she did not adopt its disdain for foundations. Quite the contrary. Bill and Hill have created the master scam of our generation, ripping off individuals, institutions, corporations and even entire countries… and they call it a foundation! One thing is clear: the Clintons are engirdling the globe and the fat cats have to suck it up.
Truth is I was way ahead of the Man from Hope and the Queen of de Niles on this score. Decades ago I was advising wealthy friends to stop constructing all these elaborate trusts which line the pockets of lawyers and eventually breed various headaches. It makes much more sense to throw most of your wealth into a huge pot and call it a foundation. The law requires giving five percent of its assets to charitable causes each year. Stick to that number and if the endowment earns more than five percent, it is essentially turning a profit like a business. Nor is there ever an estate, as the structure holds fast for ensuing generations to pass through.
Put another way, you can run a hedge fund and call it a foundation.
The family funding the private foundation retains control over its officers and employees. In fact each family member can be listed as an officer in some capacity. You can then count all sorts of outlays, such as flying around in private planes and staying in upscale hotels, as foundation expenses. This enables you to shield a significant portion of your real income from taxes. If you are influential enough to attract outside donors, or to strong-arm them, pretty much every conversation you have with Bertie Wooster about polo in the Drones Club is foundation business.
Put another way, you can run a slush fund and call it a foundation.
Despite my anticipating the general idea of this “long con” on American society and the Internal Revenue Service, I could never have forecast all the ingenious embellishments of corruption the Clintons have devised. This genie is having way too good a time to ever go back into the bottle. Their operation would make Machiavelli blush. And Carlo Ponzi. And Mata Hari. It blows your mind and picks your pocket at the same time.
Here is the setup. You have an ex-President who wants to rake in loads of cash and exploit his fame and position to maximum profit. What to do? After all, when Ronald Reagan took two million dollars from Japan for a goodwill trip after leaving office, there were howls of outrage. Answer: take the millions but not for yourself… for the Presidential Library… and for the Foundation! Whenever Bill or Hillary speaks, the company or university hosting the address pays several hundred thousand dollars to (everyone together now)… the Foundation! No need to pay income tax because it is not income. No criticism for selfishness because this is the height of selflessness.
Additionally, every Clinton foot soldier from the campaigns and terms of office are employed at the Foundation. This means there is a full-time perpetual campaign in place, for whatever office or project Bill and Hillary seek next, and it is all being paid for under the guise of charity. If Bill is as nimble as he once was, he can keep a few mistresses on the payroll as well.
During the years Hillary was a Senator or a Presidential primary candidate or Secretary of State, her position facilitated the “fundraising” considerably. Individuals, companies, countries seeking her favor could deliver checks — above the campaign contribution limits — to the Foundation. To demonstrate just how crooked this all was, here is all you need to know: the chief fundraiser of Hillary’s campaign, a chap named Cheng, was given a job at the State Department — to be her advance man!
Think about it. Before each country could greet Secretary of State Clinton, they would first greet her chief fundraiser. Ya kiddin’ me?!
As for the efficacy of the Foundation’s charitable efforts, I offer two exhibits. In Exhibit A my 19-year-old daughter was attending college in Israel last year and her whole class was treated to an opulent dinner one night by one of the Dads. Amid the hubbub of girlish conversations down the long table, the host’s sharp ears picked out my daughter telling a friend the Clinton Initiative just spends money on conferences and symposiums “solving all the problems of the world” but does little to help actual people. The host berated her for saying that, averring that he and his company worked closely with the Foundation.
“Really?” my daughter asked, unfazed. “Doing what?”
“Increasing the use of electric cars.”
Exhibit B features real hard working neighborhood people I have witnessed working hard on refurbishing local public schools. When I inquire, it turns out they are all volunteers. So much like government itself, the Clinton machine is a behemoth NGO (non-governmental organization) where the only real help is offered by the sincere volunteers who wind up providing protective cover for the scam artists who do very little and spend very much.
Now we know the Foundation does triple and quadruple duty for the Clintons, including intelligence services and even secret email accounts. All this goodness rolled into one trick! As Hillary said earlier this week, there is convenience in using only one device….