In the midst of Hillary Clinton’s Campaign to Empathize with Poor People comes a damning report about her family’s finances: though she and her husband have both called to raise estate taxes on the wealthy, they’re actively attempting to shield their own estates from that same tax — using the same tactics they publicly denounce other millionaires for using.
Bloomberg dug through the Clinton’s finances and discovered that back in 2010, the Clintons split the ownership of their multimillion-dollar New York house in half, and placed both those shares into two residence trusts. In layman’s terms, this means that any increase in the house’s value cannot be taxed and could, according to one expert, save the Clintons “hundreds of thousands of dollars in estate taxes.” (They also created a life insurance trust to lower their tax liability.)
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