Forbes: Would Bill And Hillary’s Clinton Foundation Withstand IRS Scrutiny? You Decide
Originally posted at Forbes by Robert W. Wood.
Will the Clinton Foundation ever be questioned by the IRS? Republicans have requested it, but it seems pretty unlikely that the IRS would touch this issue. In fact, perhaps it is even more unlikely because of those requests! In that sense, asking whether the Foundation could stand up to scrutiny may be pointless.
Besides, it is difficult to tease out the facts, with undisclosed donations, speeches, amended tax returns, and administrative expenses. Mostly, there is hyperbole about how lofty the goals, how altruistic the founders, and how successful the fundraising. Still, it is hard to avoid some of the press, including the recent report that the Foundation gathered $100 million from a variety of Gulf sheikhs and billionaires in mysterious ways. And for what promises?
On a smaller scale, it was recently revealed that the Clinton Foundation arranged a $2M pledge to a firm owned by Bill’s ‘friend.’ Perhaps it should be no surprise that the Clinton Foundation helped Hillary and Bill’s friends. Yet the law is very clear that charitable organizations with public charity tax exemptions must benefit the public interest. In fact, the law requires the charity to operate exclusively for charitable purposes.
Even without knowing how the Clintons got from point A to point B, they were “dead broke” on leaving the White House. Their finances since exploded, with well over $100 million in earnings since that time and a vast net worth. Yes, part of it comes from those speeches that no one is talking about.
Read more at Fprbes.
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