Multimillionaire Hillary: "Sisters, Can You Spare a Dime?

The Bush years have been a financial boon to the Clintons

Clintons: $109.2 Million in 7 Years
Friday April 4, 4:21 pm ET
By Jim Kuhnhenn
Associated Press Writer

WASHINGTON (AP) -- Sen. Hillary Rodham Clinton and former President Clinton report nearly $109.2 million in income for seven years in newly released tax data.

The Democratic presidential candidate and her husband paid $33.8 million in taxes from 2000 through 2007. They listed $10.25 million in charitable contributions during that period.

$ 65.15 million after taxes in 7 years is not bad, so Hillary's plea for campaign cash is somewhat surprising. The Politico recently reported that Poor House Hillary just about got down on her knees to beg for campaign contributions.

At the end of the event, the music played to usher people out, but Hillary stopped the music and implored the crowd to donate. "I need your help. I'm being outspent," she said.

Boo hoo.

More on the Clintons' oil company-like windfall.

“Now don’t get me wrong, I have absolutely nothing against rich people. As a matter of fact, my husband, much to my surprise and his, has made a lot of money since he left the White House, by doing what he loves doing most — talking to people.

-- Hillary Clinton on the "surprising" amount of money she and her husband have made during the Bush years. By the way, given Mr. Clinton's past, I don't think that talking to people is what he loves doing most.

April 5, 2008
Clintons Made $109 Million in Last 8 Years
By MIKE McINTIRE

Senator Hillary Rodham Clinton and former President Bill Clinton released tax data Friday showing they earned $109 million over the last eight years, an ascent into the uppermost tier of American taxpayers that seemed unimaginable in 2001, when they left the White House with little money and facing millions in legal bills.

The bulk of their wealth has come from speaking and book-writing, which together account for almost $92 million, including a $15 million advance — larger than previously thought — from Mr. Clinton’s 2004 autobiography, “My Life.” The former president’s vigorous lecture schedule,where his speeches command upwards of $250,000, brought in almost $52 million.

During that time, the Clintons paid $33.8 million in federal taxes and claimed deductions for $10.2 million in charitable contributions. The contributions went to a family foundation run by the Clintons that has given away only about half of the money they put into it, and most of that was last year, after Mrs. Clinton declared her candidacy.

Mrs. Clinton’s campaign released the eight years of income tax information late Friday, following a rising clamor on the campaign trail for her to follow the lead of her opponent, Senator Barack Obama, who had previously disclosed his tax returns for the same period. In what proved to be an awkward juxtaposition, the disclosure of the records —which revealed the Clintons to be in the top one-hundredth of 1 percent, or roughly 14,500, of all taxpayers — came on the day that Mrs. Clinton called for the creation of a cabinet-level post to tackle poverty.

The Clinton's hypocrisy extends to their "charitable" donations, which have gone to their own "family foundation." But what is really disturbing is the source of a lot of Bill Clinton's income over the last seven years. We've known of his fondness for Chinese dirty money. Well, it continues and it has been extended to Dubai.

In fact, since Mrs. Clinton announced her campaign for president, controversies involving her husband’s business and philanthropic endeavors have occasionally raised questions about the potential for ethical conflicts should she win the White House. Among them is Mr. Clinton’s partnership with Ronald W. Burkle, the billionaire investor and supermarket magnate, whose deals have included investing money for the government of Dubai and acquiring a stake in a Chinese media company.

Mr. Clinton had previously not disclosed what he earned from that partnership, but the tax returns show he collected at least $12.6 million since 2002, and possibly as much as $15.3 million, from his work as an adviser and rainmaker for Mr. Burkle’s Yucaipa Companies. The lack of clarity is because the Clintons released only a summary of their 2007 income, which lists $2.7 million in partnership income but does not identify sources. Based on previous years’ returns, it is likely that income came from Yucaipa.

Remember when Ronald Reagan was heavily criticized for going to Japan to give a paid speech?

The returns show that Mr. Clinton hit the ground running after leaving office, bringing in $13.7 million from speaking and writing during his first year as a private citizen, a huge leap from the $416,000 the Clintons reported the previous year.

Here's more on Bill Clinton's Yucaipa "partnership" from Blomberg.com.

The former president, 61, received $1 million from Yucaipa in 2003, $4 million in 2004 and $5 million in 2005. In 2006, he received a guaranteed payment of $2.5 million plus a $156,611 share of the profits. The campaign said he earned $2.75 million from partnership income in 2007.

``The flat amounts received from Yucaipa are odd,'' said Tom Ochsenschlager, vice president of taxation at the American Institute of Certified Public Accountants, who agreed that it signaled Bill Clinton was performing a service. ``That's quite unusual.''

And,

The tax returns indicate the couple paid all the U.S. federal taxes owed on the income from Yucaipa, which controls three funds located in the Cayman Islands. The Cayman Islands doesn't charge any individual or corporate income tax and has strict bank secrecy laws.

Bill Clinton's ties to Yucaipa have sparked controversy over the past year, including a September report in the Wall Street Journal that detailed how one of the former president's aides had helped arrange a partnership with Burkle that dissolved amid litigation over allegations of misused funds. Yucaipa spokesman Frank Quintero didn't return calls seeking comment about what services Bill Clinton performed for the company. Forbes Magazine listed Burkle, 55, as the 91st richest American last year, with a net worth of $3.5 billion.

Dirty money. It's the Clinton way.