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amborin

(16,631 posts)
Sun Jun 5, 2016, 01:39 PM Jun 2016

In 2008 and 2013 Most of Clinton's "charity" Donations went to Clinton Foundation

In 2014, the Clintons took in more than $28 million and claimed about $3 million in income as charitable tax deductions, according to tax returns released by Hillary's presidential campaign last Friday, as reported by Politico.

The campaign made sure to emphasize that Hillary's charitable givings "represented 10.8 percent" of her total income in 2014, however, more than half of that money - $1.8 million - was sent to the Clinton Foundation.

http://www.hngn.com/articles/116271/20150805/the-clintons-sent-half-of-their-charitable-donations-to-their-own-charity-in-2014.htm



Most of Clintons' Charitable Donations Went to Family Foundation


By Matthew Mosk
Washington Post Staff Writer
Sunday, April 6, 2008; Page A09

Bill Clinton's book "Giving" devotes a great deal of space to the charitable habits of the world's wealthiest inhabitants, and it details some of his own efforts on behalf of AIDS patients and victims of natural calamities.
This Story

TAX WRITE-OFFS ON $109 MILLION: Most of Clintons' Charitable Donations Went to Family Foundation
What Would $109 Million Buy?


But it was only on Friday afternoon, when his wife's presidential campaign released family tax returns for the past eight years, that the world got a glimpse at how he and Sen. Hillary Rodham Clinton (D-N.Y.) have managed the tough kitchen-table decisions about how to parcel out their own wealth -- including the $6.3 million Bill Clinton received as his "Giving" advance.

After earning more than $109 million over eight years, the Clintons took tax write-offs for $10.2 million in charitable contributions. In most of those years, that money was donated to the Clinton Family Foundation...

http://www.washingtonpost.com/wp-dyn/content/story/2008/04/05/ST2008040502593.html
21 replies = new reply since forum marked as read
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In 2008 and 2013 Most of Clinton's "charity" Donations went to Clinton Foundation (Original Post) amborin Jun 2016 OP
So? I Don't Find That Unusual or Surprising Stallion Jun 2016 #1
So? So it's a great scheme.. choie Jun 2016 #5
They Would Get a Tax Deduction If they Gave Donations to Any Qualified Charity Stallion Jun 2016 #7
Did you read the entire post? choie Jun 2016 #9
Clearly There is Nothing Wrong With That If They Want to Donate Their Own Money to the Foundation Stallion Jun 2016 #10
What if the family charity provides them with services, expends funds on them? immoderate Jun 2016 #12
If Foundation Funds Were Expended for Services that Promote the Charitable Purpose of the Foundation Stallion Jun 2016 #21
Well Romney put it all in a 401k Skink Jun 2016 #2
Clinton Foundation is a huge money laundering operation. Cheese Sandwich Jun 2016 #3
This message was self-deleted by its author artislife Jun 2016 #15
So awesome pandr32 Jun 2016 #4
And I'll just drop this here choie Jun 2016 #8
This is supposed to be scandalous? Lord Magus Jun 2016 #6
... and gives back the most! immoderate Jun 2016 #14
What are you talking about? -nt- Lord Magus Jun 2016 #16
Corruption of the political system. immoderate Jun 2016 #19
Many people of considerable means have established foundations MineralMan Jun 2016 #11
This message was self-deleted by its author artislife Jun 2016 #13
I can't wait until these right-wing smears are no longer on DU. -nt- Lord Magus Jun 2016 #17
This message was self-deleted by its author artislife Jun 2016 #18
so what? noiretextatique Jun 2016 #20

Stallion

(6,474 posts)
1. So? I Don't Find That Unusual or Surprising
Sun Jun 5, 2016, 01:44 PM
Jun 2016

I'm sure Warren Buffett and Bill Gates primarily donated to their Foundations too. Actually Buffett gave the largest gift in History to the Gates Foundation BUT he is one of the 3 Trustees of the Gates Foundation. Bill Gates gave his own Foundation 26 Million by 2006

http://www.gatesfoundation.org/Who-We-Are/General-Information/Foundation-FAQ

choie

(4,111 posts)
5. So? So it's a great scheme..
Sun Jun 5, 2016, 01:57 PM
Jun 2016

Both she and Bill don't have to pay income taxes and instead get a tax deduction for donating to their own foundation; a foundation from which they can exchange donations from other rich donors for political and financial deals! Yay!!!!God bless America!!

Stallion

(6,474 posts)
7. They Would Get a Tax Deduction If they Gave Donations to Any Qualified Charity
Sun Jun 5, 2016, 02:00 PM
Jun 2016

So it does not make any difference tax-wise if they gave donation to the Clinton Foundation or any other qualified charity

Stallion

(6,474 posts)
10. Clearly There is Nothing Wrong With That If They Want to Donate Their Own Money to the Foundation
Sun Jun 5, 2016, 02:25 PM
Jun 2016

All Foundations expend funds to achieve their charitable purposes.

 

immoderate

(20,885 posts)
12. What if the family charity provides them with services, expends funds on them?
Sun Jun 5, 2016, 02:59 PM
Jun 2016

Any clearer? You say it's fair because anybody rich enough can take advantage of the same feature.

--imm

Stallion

(6,474 posts)
21. If Foundation Funds Were Expended for Services that Promote the Charitable Purpose of the Foundation
Sun Jun 5, 2016, 04:00 PM
Jun 2016

then that would be legal. There are numerous federal regulations that define and outline what can and can not be done and the expenditure of Foundation funds has to be public disclosed in forms reported to the IRS. Example, foundation funds could be expended to promote an initiative in Africa that might require travel and lodging by foundation representatives who might be the Clintons or say their daughter on behalf of the foundation. The foundation may need an attorney to comply with the laws of foreign nations for work conducted in that foreign nation-just pulling name out of a hat but say Sidney Blumenthal. If responding to famine in a foreign country, the Foundation has to pay some entity to purchase humanitarian aid, transport the assistance to the affected zone and distribute aid to the people. Could be a multi-million dollar contract to perform the services-and it would probably be an entity that the Clinton's have confidence to do the job. The scope of a Foundation promoting International charitable work is similar to the structure of a corporation with a similar organization, employees and representatives needed to accomplish the foundation's charitable purpose. Its not simply writing a check its a non-profit business like organization that performs the actions that a corporation would to accomplish its goals. In the end, it was their money in the first place-now because of their generous gift- fully authorized by Federal tax law-its assets are owned by the public subject to compliance with Federal tax law. If you don't like charitable Foundations and the policy of the Tax Code to reward private gifts to charities then that's another question. But there is nothing morally or legally wrong with what the Clinton have done with their own assets

Response to Cheese Sandwich (Reply #3)

pandr32

(11,582 posts)
4. So awesome
Sun Jun 5, 2016, 01:50 PM
Jun 2016

The Clinton Foundation has done so much important work. Hillary uses much of the income she receives from the paid appearances and speeches she gives to companies that use them for PR purposes, to charity.
And before any outrage, I will just drop this here:
http://www.factcheck.org/2015/06/where-does-clinton-foundation-money-go/

Lord Magus

(1,999 posts)
6. This is supposed to be scandalous?
Sun Jun 5, 2016, 01:58 PM
Jun 2016

Why wouldn't they send their donations to the charity they know best?

MineralMan

(146,302 posts)
11. Many people of considerable means have established foundations
Sun Jun 5, 2016, 02:35 PM
Jun 2016

for their charitable donations. That way, they can administer their donations in a way they can control. It's a pretty darned common thing to do. Often, it leads to a larger percentage of the donation being used for specific purposes. In addition, a foundation can accept charitably donations from others as well, who think the foundation is doing good work.

I have no problem with such private foundations. Many are doing great things around the world.

Response to amborin (Original post)

Response to Lord Magus (Reply #17)

noiretextatique

(27,275 posts)
20. so what?
Sun Jun 5, 2016, 03:54 PM
Jun 2016
i see someone has already beat me to it. if a republicon candidate did the same, then it would be an issue.
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