By John Ruberry
Last night the New York Times, using an illegally obtained copy of Donald Trump’s 1995 tax return, speculated that because of a $916 million loss listed on that return, the Republican nominee may have, yes, may have, avoided paying federal income taxes for 18 years.
With help from his wealthy father, not the government, Trump, a real estate developer, built an international business empire. And because of his Apprentice television franchise, even before his presidential run Trump was likely the most recognized business person in the United States.
Hillary Clinton is also rich. Her business–make that racket–is influence peddling. While her husband was attorney general, and then governor of Arkansas, Clinton was an attorney at the Rose Law Firm in that state’s capital city. The Clintons, aided by the Rose Law Firm, used its clout to protect themselves and Jim and Susan McDougal, their investment partners. While they didn’t make money in Whitewater, Arkansas’ first couple did their best to cover up the Whitewater scandal, which led to the convictions the McDougals, Bill’s successor as governor, and Webster Hubbell, a partner at the Rose Law Firm and a close friend of the Clintons.
The McDougals ran Madison Guaranty Savings and Loan in Little Rock, which failed in the 1980s. They chose, of course, the Rose Law Firm to defend their thrift.
After emerging from the White House “dead broke,” the Clintons were still able to purchase a mansion in Westchester County, New York, one of the most expensive real estate markets in the nation. In 2001 the Clinton Foundation was formed, by this time of course Hillary was a US Senator from New York. The foundation traded off of Bill’s status as an ex-president–six-figure public speaking fees to him went to this “charity,” which offered high-priced salaries to Clinton family cronies and served as a lucrative waiting room for those Clintonistas between government jobs.
The former first couple learned that influence peddling, not property investments, was their pathway to wealth.
While Hillary was serving as Barack Obama’s secretary of state, foreign donors poured money into the “charity,” probably using their cash as down payments for favors from Madame Secretary. It worked. A majority of the non-governmental meetings Hillary had at State were with Clinton Foundation donors, which is why the foundation is commonly referred to as a slush fund.
In Illinois, where Hillary grew up, that’s called pay-to-play.
There’s nothing like this type of sordidness in Trump’s background.
After leaving State, it was Hillary’s turn to collect the big-money speeches, with Wall Street firms being some of her most lucrative clients. Without having been a major government figure–or the spouse of one–Clinton’s speech income just might have matched that of a Times Square busker, such as the Naked Cowboy.
In 2014 just 5.7 percent of the Clinton Foundation budget was spent on charitable grants.
Where is that story, New York Times?
Oh, do you know anyone who doesn’t try to pay as little income tax as possible?
John Ruberry regularly blogs at Marathon Pundit.