Incident

Incident

Clintons made $109 million in recent years

05 April 2008 09:32 (UTC +04:00)

The couple paid taxes of more than $33 million and gave more than $10 million to charity between 2000 -- their last year in the White House -- and 2007, tax information released by Hillary Clintonâ€™s presidential campaign showed.
Clinton, a New York senator, had been challenged by White House rival Barack Obama to release her tax returns as the two Democrats duel for the right to face Republican John McCain in Novemberâ€™s election.
Obama made public his returns from 2000 to 2006 last week, renewing their battle over transparency. Campaign aides to Obama, an Illinois senator, have accused Clinton of being secretive and shielding documents from the public.
Presidential candidates often release their tax returns, although they are not required to do so. As senators, Obama and Clinton are required only to file disclosure statements that give a wide range of income and provide few details on finances and holdings.
The Clintonsâ€™ tax returns, released late on Friday afternoon, showed their income jumped dramatically from $350,000 in 2000, their final year in the White House, to $16 million in 2001.
Their biggest money-making years were 2004 and 2007, when they made $20 million in each year. The 2004 income included more than $15 million in business income primarily from Bill Clintonâ€™s speeches.
"I never thought Iâ€™d say this, but ever since my husband got out of full-time public service, heâ€™s actually made money, much to both of our amazement," Clinton told a labor group in Philadelphia on Tuesday, before the release of the returns.
The Clinton campaign has pushed Obama to release records from his days in the Illinois legislature and his earlier tax returns. Hillary Clintonâ€™s public schedules from her time as first lady were released last month.
"The Clintons have now made public 30 years of tax returns, a record matched by few people in public service. None of Hillary Clintonâ€™s presidential opponents have revealed anything close to this amount of personal financial information," Clinton spokesman Jay Carson said.
In addition to Bill Clintonâ€™s lucrative speeches, the couple made about $40 million in book income between 2000 and 2007. Hillary Clinton made $10 million from her book "Living History" and $190,000 from "It Takes a Village," released in 1996.
Bill Clinton made more than $23 million for his autobiography "My Life," including a $15 million advance. He earned $6.3 million for "Giving," released last year.
The couple paid $33.7 million in federal taxes since 2000, which was 31 percent of their adjusted gross income. The $10 million in charitable donations was 9.5 percent of their adjusted gross income.
The campaign said the most recent Internal Revenue Service information showed taxpayers who earned more than $10 million a year gave an average of 3.1 percent of their income to charity.
In addition to seven years of tax returns, the Clintons released a summary of their 2007 finances based on estimates by their tax attorney.
The campaign said they will seek an extension beyond the April 15 tax deadline so they can receive information related to partnership income, including from a blind trust.
McCain, an Arizona senator who has clinched the Republican nomination, will release his tax information after the April 15 deadline for filing, a campaign spokesman said. Reuters