Hillarys Wealth Isnt the Problem The American Dream is to enjoy the fruits of Liberty -- to succeed in your endeavors, earn financial security and raise a family. Life, Liberty and the Pursuit of Happiness. Yet humans are by nature covetous of the gains of others, and a certain political party has made a platform out of fomenting and exploiting that envy. This is why we cant have nice things. Bill and Hillary Clinton were masters of class warfare while in the White House, using it to push massive tax hikes on the wealthy in 1993. In 2001 and 2003, Republicans cut those taxes, albeit with an unfortunate sunset provision Democrats seized in order to raise those taxes again in 2013. Democrats made the rich paying their fair share their standard talking point. Of course, these taxpayers already more than paid their share, but that wasnt really the point. Meanwhile, since leaving the White House the Clintons have quite successfully cashed in on their political celebrity to the tune of more than $100 million -- not to mention Bills ample pension plan and benefits. That leaves Hillary walking the difficult line between being truly wealthy and connecting with the average American. Two weeks ago, she infamously lamented, [W]e came out of the White House not only dead broke but in debt. We had no money when we got there and we struggled to, you know, piece together the resources for mortgages for houses, for Chelseas education -- you know, it was not easy. Lifestyles of the poor and downtrodden. Realizing how out of touch she sounded, shes been trying to clarify ever since. This week, she argued that she and her husband are just like you -- working to make ends meet. [W]e pay ordinary income tax, she said, unlike a lot of people who are truly well off -- not to name names -- and weve done it through dint of hard work. Even CNNs hosts couldnt help but laugh at that one. And as National Reviews Rich Lowry observed, [I]t seemed pretty clear that Hillary was contrasting herself with Mitt Romney. It was striking, then, that she said she and Bill have earned their wealth through dint of hard work. What she was implying is that investing in and turning around companies is some sort of valueless, rigged financial game, while getting enormous book advances and speaking fees based on your political celebrity is the definition of honest labor. Furthermore, the Clintons have done everything they could to avoid paying as much tax as possible. And its amusing that she considers herself not truly well off with only $100 million when Barack Obama and the Democrats were pushing tax increases on millionaires and billionaires earning $200,000 a year. Even Chelsea Clinton is getting in on the act. The Clintons 34-year-old daughter said recently, I was curious if I could care about [money] on some fundamental level, and I couldnt. Translation: Money was plentiful and I neednt worry. Not to hammer the younger Clinton, but shes not helping her mom right now. In related news, Joe Biden claims hes the one whos downright poor. Dont hold it against me that I dont own a single stock or bond, he said Monday. I have no savings account. But Ive got a great pension and Ive got a good salary. (Sen. Elizabeth Warren, who has a stock portfolio of about $8 million, said in 2012 that no member of Congress should own stocks, so at least Bidens following her advice.) Thats Bidens way of taking advantage of Hillarys missteps as he explores his own possible presidential bid. Again, the issue here isnt the Clintons or Bidens wealth. Its still a (somewhat) free country and theyre welcome to earn what they can. The issue is hypocrisy. The Clintons amass a tremendous fortune on the basis of nothing but their own fame, while pretending to share the average Americans struggles and attacking those who build wealth slowly through hard work, perhaps in a small business. (Its worth noting the Obama tax increases of 2013 dont hit the Clintons; they primarily penalize those like the small business owner.) Hillary should simply own up to her wealth, show a little gratitude and humility, and move on. Instead, she clumsily tries to pretend shes something else entirely.
Posted on: Tue, 24 Jun 2014 17:43:56 +0000
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