Tags: Hillary | Bill Clinton | income tax
Image: Hillary and Bill Clinton Paid $43 Million in Federal Taxes
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Hillary and Bill Clinton Paid $43 Million in Federal Taxes

Friday, 31 Jul 2015 09:28 PM

Hillary and Bill Clinton paid $43.9 million in federal taxes from 2007 through 2014, suggesting that the former secretary of state and former president made well over $100 million in that period, according to a summary of tax returns they released Friday.

The Clintons reported paying a federal tax rate of 35.7 percent in 2014 and donating 10.8 percent of their income to charity. They also paid $13.6 million in state and local taxes during that period.

Hillary Clinton's campaign chose to release the tax returns along with a letter from her doctor giving her a clean bill of health on an unusually busy summer Friday when the State Department released some of her e-mails from her time as secretary of state and the Federal Election Commission released super PAC donation records.

Taken together, the voluntary and involuntary disclosures amounted to "the most expansive, transparent release of documents ever," Clinton senior strategist Joel Benenson, a Clinton strategist, said on Bloomberg's With All Due Respect,at about the same hour as the super PAC supporting Clinton, Priorities USA, made its filing with the FEC. With the latest release of tax documents, Benenson said, the Clintons will have made public 38 years of tax returns.

That puts Hillary Clinton ahead of one of her chief Republican rivals, Jeb Bush. The former Florida governor last month made 33 years of his taxes public. Another one of the 2016 presidential field's wealthier candidates, Carly Fiorina, was the first to release details on her taxes, providing two years of reports.

The Clinton campaign moved quickly to exploit the advantage. "If @JebBush wants to call himself the most transparent candidate in the race about his finances, he is going to have some catching up to do," Brian Fallon, the campaign press secretary, said on Twitter.

"Looking forward to seeing the itemized income sources for Jeb Bush and Associates. On any day of the week," Fallon added. This came after Bush communications director Tim Miller accused the Clinton team of engaging in a Friday news dump timed to overshadow the court-ordered release of Clinton's State Department e-mails. On With All Due Respect, Benenson argued that Bush has failed to detail the source of some $19 million in business fees and pooh-poohed the theory that the campaign was engaging in obfuscation by information.

"The campaign releases documents when they have them ready," he said. "Why not do it all at once?"

Clinton used the release of her tax returns as an opportunity to call for higher tax rates on high-income Americans. “Families like mine that reap rewards from our economy have a responsibility to pay our fair share,” she said in a statement.

In her statement, Clinton emphasized that her family has not always been so wealthy. She and her husband "have come a long way from my days going door-to-door for the Children’s Defense Fund and earning $16,450 as a young law professor in Arkansas – and we owe it to the opportunities America provides," she said. 

Friday's release covers the years during which Clinton first ran for president, served as secretary of state and then made millions of dollars giving speeches. During the same time, Bill Clinton was making money through speeches and consulting. The Clintons have previously released tax returns going back to 1977 during earlier campaigns and while in the White House.

To contact the authors on this story: Richard Rubin at rrubin12@bloomberg.net Jennifer Epstein at jepstein32@bloomberg.net To contact the editors on this story: Kathy Kiely at kkiely9@bloomberg.net Jodi Schneider at jschneider50@bloomberg.net

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Hillary and Bill Clinton paid $43.9 million in federal taxes from 2007 through 2014, suggesting that the former secretary of state and former president made well over $100 million in that period, according to a summary of tax returns they released Friday.
Hillary, Bill Clinton, income tax
587
2015-28-31
Friday, 31 Jul 2015 09:28 PM
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