Clinton Multi-Millionaires After Six Years as President
Clintons Worth Up to $5.8
May 22, 1998 - Editor's Note: This article, which appeared in Hot Topics on May 15th, gives the background on the reference in today's column about the Clintons' suddenly found wealth. No explanation was or is available as to how this happened in one year, which also brought the Clintons millions of dollars worth of legal expenses. The Clinton ordered creation of a "private security" company, using taxpayer money, (article below) may give us a clue!) (cont)
reagan.com
Jones check for $850,000 in the mail
By The Associated Press
Jan. 13, 1999
WASHINGTON -- President Clinton mailed a check for $850,000 to Paula Jones on Tuesday to settle her sexual harassment allegations, officially ending the sensational legal battle that cast his presidency into crisis.
In the week his Senate impeachment trial was to resume, the president drew about $375,000 from his and Hillary Rodham Clinton's personal funds and got the rest of the settlement, about $475,000, from an insurance policy, a White House official said.
"This ends it. The check is being Fed-Exed" to Bill McMillan, one of Jones' lawyers, said the official, who spoke on condition of anonymity.
The official said the personal funds were drawn from the Clintons' blind trust, which was valued in their financial disclosure statement at $1 million to about $5 million. None of the money was drawn from his legal defense fund, which raises money from private citizens to defray his legal bills, the official said. (cont)
arizonarepublic.com
A reader, Bruce S. Seltzer, asked a provocative question last week:
"Why aren't all the legal services the Clintons have received - but have not paid for - considered gifts, and thus taxable in 1996 and 1997??? Their attorneys are not trying to collect. If you or I received such visible services that dwarfed our reported income, what would the IRS do? Roll over? Give us 2, 3, 4 years to pay? Say "no problemo?"
"Of course not. We'd be assessed and penalized. Leins would be filed. Our assets could be sold. Depending on the flagrancy and the IRS' mood, a jail sentence could even be considered. So, why isn't the IRS demanding the Clintons to pay another $1-$2 million in federal taxes on the widely stated "estimated" $4-$5 million in private legal services they received just in 1997? The IRS' inaction is unconscionable. "
The question arises from an obscure, brief article from Associated Press which reported that between 1996 and 1997 President Clinton and his family appear to have become multi-millionaires in a year filled with published stories about how "poor" they were becoming as a result of unpaid legal bills.
The Clintons listed their assets, most of which were placed in a blind trust in 1993, as ranging between $1.3 million and $5.8 million in 1997 -- up from last year's report, when they said they held assets ranging from $760,000 to $1.7 million in 1996. They also reported up to $3 million in unpaid legal bills.(cont)
reagan.com |
