Secrets of Clintons' Taxes
by Tom Fitton
Issue 106 - April 23, 2008

So now we know why the Clintons waited so long to release their tax returns. Of course, a lot of press attention has been given to the amount of income reported by the Clintons -- $109 million over the last eight years – and, indeed, that number is staggering. (I believe that puts them in the top .01% of taxpayers) But of more concern to me is the source of some of these funds.

Take, for example, billionaire businessman Ron Burkle. You will recall that Burkle was a major contributor to the Clintons’ campaigns and to their legal defense fund before hiring Bill Clinton to work for his Yucaipa firm.

According to the newly released tax records, Bill Clinton earned $15 million as a consultant for Burkle. Now, Hillary did admit on her 2003-2004 Senate Financial Disclosure Statements that Bill Clinton’s Yucaipa income was “more than $1,000.” So, technically, I guess, she didn’t lie. But $15 million!? And for what? Burkle admitted in one news report that Clinton spent about an average of 10 hours per week on Yucaipa business. That’s a pretty paltry investment of time, given the enormous amount of compensation.

Which leads to the question…

What does Burkle expect in return for his investment? And what does Sheik Mohammed bin Rashid al-Maktoum, the ruling sheik of Dubai, who is another Clinton/Yucaipa partner, expect from his dealings with Bill Clinton? Given that the Clintons’ presumably share the same bank account, Hillary is every bit as indebted to Burkle and Dubai’s leader for their largesse as her husband. And, whether she’s in the Senate or in the White House, Hillary is in a position to return required favors.

Bill Clinton also raked in a whopping $51.9 million in speaking fees, many coming from foreign interests and governments. Same question: What do these foreign interests expect in return for their investment?

The Clintons’ tax returns also raise red flags related to the Clinton Family Foundation. The Clintons claim $10.3 million in charitable donations on their returns and, according to The Wall Street Journal, “nearly all the donations went to the Clinton Family Foundation, which has disbursed only half the money.” The Journal notes that virtually all of the donations came after Hillary announced her candidacy for president, and that some of the donations reek of “politically targeted philanthropy.”

So I guess I can see why Hillary failed to report her role as Treasurer of the Clinton Family Foundation a shocking five times on her Senate Financial Disclosure statements. Clearly she didn’t want anyone doing any digging on the foundation’s activities, as suspicious as they are.

Judicial Watch will, of course, continue to review these records and I’ll be sure to report our findings in future installments of The Weekly Update.

Tom Fitton is President of Judicial Watch, a nonpartisan educational foundation that fights government corruption.