Hillary Clinton released her tax returns today, part of her effort to goad Donald Trump into releasing his own.
Spoiler: Bubba and Hillary Clinton are pretty rich.
The couple made $10.6 million in 2015, paying an effective combined tax rate of 43.%. That’s down from 2014, when they made a combined $28.3 million.
According to CNBC:
Hillary Clinton also listed $1.475 million in gross income from speaking, and Bill reported $5.25 million in gross income from speaking. No details were provided on those speaking engagements.
The Clintons made $10.7 million in total income, but reported an adjusted gross income of $10.6 million due to a self-employment tax deduction.
Other significant sources of income included $3 million in book proceeds for Hillary, and $1.6 million for Bill’s consulting with GEMS Education, an international education company, and Laureate Education, Inc., a for-profit education chain.
But now comes the tricky part, their charitable giving.
The Clintons donated $1,042,000 to charity in 2015. Of that, all but $42,000 went to the Clinton Family Foundation, which then hands out donations to charities of its own.
The family foundation has yet to release a 2015 tax filing, but its 2014 tax filing included (but wasn’t limited to):
- The Methodist Church
- Yale University
- Sidwell Friends School
- Georgetown University
- Arkansas Children’s Hospital Foundation
- Thea Foundation
- William J. Clinton Foundation (Now known as the Clinton Foundation)
- The Museum for African Art
A common misperception is to link the Clinton Family Foundation with the Bill, Hillary and Chelsea Clinton Foundation, which includes the Clinton Global Initiative.
It’s an easy mistake to make, but when you hear about the FBI or DOJ or Attorneys General investigating the Clinton Foundation, you’re thinking about the Clinton Foundation, not the Clinton Family Foundation.
As you can tell from the list above, the Clinton Family Foundation also sends money ($1.8 million in 2014) to the Clinton Foundation that’s all over the news.
Many wealthy Americans maintain charitable foundations, and the Clintons are just like them. These people have worked hard for their money, so they want to be able to make sure it’s spent wisely.
At the same time, many conservatives would argue that the same should apply to taxes, whether or not liberals agree on such a position.
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