Have Bill and Hillary moved the right on the estate tax?

[betterdemsonly]

From CBS News

Estate tax champions Bill and Hillary Clinton are doing just about everything in their power to stave off hefty estate taxes on their own personal fortune, according to Bloomberg News.

The report out Tuesday shows that the two heads of the political dynasty have been seizing on legal but slippery loopholes to minimize taxes on inherited wealth - maneuvers not atypical of multimillionaires but which will inevitably drum up cries of hypocrisy based on the Clintons' active support for the estate tax in the past.

Bloomberg cites county property records that show the Clintons divided ownership of their New York home into separate 50 percent shares, then placed those shares into trusts. The moves ensure that any growth in the house's value will occur outside their estate and that they can claim a discounted value for the home, which could save the Clintons hundreds of thousands in estate tax avoidance.

"The goal is really be thoughtful and try to build up the nontaxable estate, and that's really what this is," David Scott Sloan, a partner at Holland & Knight LLP in Boston, explained to Bloomberg. "You're creating things that are going to be on the nontaxable side of the balance sheet when they die." ...............

http://is.gd/tupCvJ

They have moved the right on so many things. They have clearly become more dependent on wall street largess since Bill retired. They have also befriended the Bush Family and are clearly courting the neocons on foreign policy.

It isn't just the Bush girls benefiting from nepotism at MSNBC. MSNBC hired Chelsea too. None have any journalistic credentials other than who they are related to. The Clintons have always been funded by Walmart heirs. It also appears to be a trend among Southern Democrats to nominate only children of old Democrats for State wide and national candidacies, so I think the move to dismantle estate tax, and enshrine children who inherit all their money, and their positions, is becoming one of those 3rd way bipartisan screwjobs.

[DURHAM D]

1. Seriously?

I am in Kansas right now and everyone here who owns land has a trust. This is not a "slippery loophole". This story is just more crap.

[ProdigalJunkMail]

2. the verbiage may be crap

but the facts of the story are true. and this isn't the family farm we're talking about here. they are doing everything they can to avoid paying inheritance taxes... very typical of most all rich families. but most Dems hate the state of inheritance taxation and the processes used to avoid what taxes there are...

sP

[tularetom]

3. I'm always ready to believe the worst about the Clintons

but I have no problem with them doing what they can to minimize their heirs' tax bill.

[betterdemsonly]

5. Yes this attitude is becoming more predominant in the dems

The "Socialist Alternative" is becoming more and more attractive to me. I adore Kshama Sawant.

[neverforget]

4. Does this mean they're struggling again?

[leftstreet]

6. They sure pulled themselves up by their boostraps since the WH

I read here the other day they were practically flat broke, but now look !! they've got estate tax problems

[OKNancy]

7. LOL - my inlaws did this

He was a teacher, she worked as a sales woman in a retail dress store. Hardly rich people.
They did however get some estate planning.

[Walk away]

8. I do everything that is legal to reduce my taxes and anyone who doesn't is nuts, lazy or...

not very bright. I am sure Elizabeth Warren and the Obamas do the same.

[lumpy]

9. Verily.