Recent news of the Clintons’ $25 million jackpot in 2014 makes it tough for Hillary to push her core campaign theme with a straight face. Indeed, widespread laughter will greet her efforts to champion “everyday Americans” against those who allegedly make too much money.
“The deck is stacked for those at the top,” Hillary Clinton said Tuesday, not mentioning that her household income puts her in not just the top 1 percent of tax filers but the top 0.1 percent. “There’s something wrong when CEOs make 300 times more than the typical worker,” Clinton told Iowa voters last month.
“In 2013, CEOs of the Standard & Poor’s (S&P) 500 Index companies received, on average, $11.7 million in total compensation, according to the AFL-CIO’s analysis of available data from 350 companies,” the mega-union reports. “While CEO pay remains in the stratosphere, production and nonsupervisory workers took home only $35,239, on average, in 2013.” The Clintons last year made more than double the earnings of a typical CEO. Even halving their joint income to $12.5 million puts each $800,000 ahead of the AFL-CIO’s average corporate villain.
Assuming a 2,080-hour work year, the AFL-CIO calculates that the average worker earned $16.94 per hour, while the typical CEO made $5,607 every hour. Shocking? The Clintons averaged $12,019 per hour, or $6,009 each.
USA Today also noted that “the Clintons appear to have put their homes in ‘residence trusts,’ a move that could reduce their estate taxes.” Here again, the Clintons seem to be cutting their tax exposure for when they enter that great real-estate scheme in the sky. That is perfectly legal. However, death-tax avoidance muffles the battle cries of someone who rails against the rich.