Hillary Clinton's death tax hypocrisy
Hillary Clinton is not at death's door, contrary to the current rumblings on the Internet's fever swamps. When she and her husband do die, however, their daughter will mostly avoid taxes on the hefty inheritance these two public servants will hand down.Clinton also has ties to the small segment of the economy that actually profits from the ghoulish death tax.
Bill and Hillary, like most millionaires whose wealth is mostly in housing and liquid assets, have engaged in sophisticated estate planning to avoid the death tax.
"Through the establishment of property and insurance trusts," Time magazine reported this summer, "the couple has employed tax strategies that ensure that, after they die, at least some of their millions of dollars in assets will be shielded from the estate tax."
Specifically, the Clintons placed their Chappaqua home — the one that housed the secret servers Hillary used to evade transparency laws — into two separate trusts. For complex reasons, this protects Chelsea from having to pay the estate tax when she inherits the house.
The Clintons also hold five life insurance policies, worth somewhere around $2 million. This is "designed to transfer assets outside of the estate," one estate planner told Time. Life insurance payouts are generally exempt from death taxes.