Clintons use loophole to avoid estate tax they helped create | New York Post
Article by Leonard Greene
Not bad for a couple of “dead broke” people. Penny-pinching probable presidential candidate Hillary Clinton and her former leader-of-the-free-world husband, Bill Clinton, have apparently grown quite attached to their money.
Despite being self-described paupers on their way out of the White House, the Clintons managed to sock away so much that they now want to shield their wealth from the dreaded estate tax they enthusiastically supported before striking it rich.
“The estate tax has been historically part of our very fundamental belief that we should have a meritocracy,” Hillary Clinton said at a December 2007 appearance with billionaire investor Warren Buffett.
But according to Bloomberg News, the Clintons have employed a variety of financial strategies designed to help shield multimillionaires from the estate tax, a levy paid by a person who inherits money or property. The tax can top out at 40 percent of assets.
Bill and Hillary Clinton have long supported an estate tax to prevent the US from being dominated by inherited wealth.As long as the tax is for other people, it appears.