World / Politics

Clintons report income of $140 million since 2007; federal tax bill: $43.9 million

Reuters

Democratic presidential candidate Hillary Rodham Clinton and her husband, former President Bill Clinton, on Friday reported total income approaching $140 million over the last eight years, providing evidence of the vast wealth they have accumulated.

The records showed that in 2013, the Clinton duo delivered six-figure speeches that reaped nearly $23 million.

Clinton, the front-runner in next year’s race for the Democratic presidential nomination, released her family’s tax returns from 2007 to 2014.

Their adjusted gross income over the period was just shy of $140 million. With deductions factored in, their taxable income was about $111 million.

She said they paid $43.9 million in federal taxes and made almost $15 million in charitable contributions over the period.

In a statement accompanying her tax records, Clinton said she and her husband paid an effective federal tax rate of 35.7 percent last year and that the rate went up to 45.8 percent when state and local taxes were figured in.

“We’ve come a long way from my days going door-to-door for the Children’s Defense Fund and earning $16,450 as a young law professor in Arkansas, and we owe it to the opportunities America provides,” she said.

The Clintons’ vast wealth, built on his reputation as former president and her resume as a former secretary of state, has become an issue in a 2016 presidential race that has focused on how to reduce income inequality.

The Clintons in 2013 each gave a series of speeches that brought in income of about $22.8 million. This included $9.6 million from Hillary’s speeches and just under $13.2 million from Bill’s.

Most of Hillary’s speeches were $225,000 apiece or more. Bill’s ranged in price from $125,000 to $750,000 each, the disclosures showed.

The tax records were disclosed on a day when the State Department released more of her emails from the period when she was secretary of state, and her campaign gave an overview of her doctor’s physical examinations of her, calling her fit to serve.

The Clinton camp said the release of her tax records is in keeping with a commitment for transparency.

One of her Republican rivals, former Florida Gov. Jeb Bush, released 33 years’ worth of tax records earlier this summer.

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