Saturday, April 5, 2008

Campaign 08: Mrs. Clinton's Taxes and Loans

ABC News Senior National Correspondent Jake Tapper is wondering about personal loans that Clintons have made in recent years. Here is an excerpt from his blog:

... according to Bill and Hillary's just-released tax returns from 2000-2006, the Clintons paid interest on loans to family members every year from 2001-2006.

... Who were these loans to and how much are they for? Were Roger, Tony and Hugh among the recipients? Clinton campaign spokesman Jay Carson politely says that's none of our bee's wax. "The Clintons made interest-free loans to some of their family members," Carson says. "The amount reported is imputed interest on those loans. The IRS requires that an amount of interest be assigned to interest-free loans; it then taxes the loan giver as if he or she actually received that 'imputed' interest. Thus, imputed interest is not actually paid by the loan recipient nor received by the loan giver. The loans to family members are personal; the Clintons are going to respect their family members’ privacy."

Roger Clinton received a presidential pardon from his brother; Tony and Hugh were involved in that pardon controversy. Is it really none of the public's business if Sen. Hillary Clinton and her husband "loaned" any of them money?

See story here.

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