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To: Cincinatus' Wife

He needs to set up a Clinton style family Foundation and just sit back and let the money roll in like Hitlery has.


3 posted on 03/15/2015 2:36:48 AM PDT by fella ("As it was before Noah so shall it be again,")
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To: fella; All
He needs to set up a Clinton style family Foundation and just sit back and let the money roll in like Hitlery has.

The Founding Father… and Mother… - They’ve created the ultimate scam for themselves: The Clinton Foundation!

"Hillary Clinton came of age during the Burn-the-Bra era of the Sixties, but she did not adopt its disdain for foundations. Quite the contrary. Bill and Hill have created the master scam of our generation, ripping off individuals, institutions, corporations and even entire countries… and they call it a foundation! One thing is clear: the Clintons are engirdling the globe and the fat cats have to suck it up.

Truth is I was way ahead of the Man from Hope and the Queen of de Niles on this score. Decades ago I was advising wealthy friends to stop constructing all these elaborate trusts which line the pockets of lawyers and eventually breed various headaches. It makes much more sense to throw most of your wealth into a huge pot and call it a foundation. The law requires giving five percent of its assets to charitable causes each year. Stick to that number and if the endowment earns more than five percent, it is essentially turning a profit like a business. Nor is there ever an estate, as the structure holds fast for ensuing generations to pass through.

Put another way, you can run a hedge fund and call it a foundation. The family funding the private foundation retains control over its officers and employees. In fact each family member can be listed as an officer in some capacity. You can then count all sorts of outlays, such as flying around in private planes and staying in upscale hotels, as foundation expenses. This enables you to shield a significant portion of their real income from taxes. If they are influential enough to attract outside donors, or to strong-arm them, pretty much every conversation you have with Bertie Wooster about polo in the Drones Club is foundation business.

Put another way, you can run a slush fund and call it a foundation."................

5 posted on 03/15/2015 3:30:59 AM PDT by Cincinatus' Wife
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