The 2008 Presidential Elections - Chapter 2

[Vanguard]

Re: The 2008 Presidential Elections - Chapter 2

so the question is that if both Obama and Clinton were to run as a ticket, who would be on top?

If it's Obama/Clinton or Clinton/Obama, I'm not voting for them. If Obama wins this thing, I hope he distances himself from the entire Clinton dynasty, and finds a running mate who has more experience (executive branch experience would be nice, all 3 frontrunners are lacking it).

Well, the NAFTA memo was fair game. But so is the Clintons' failure to release their tax returns.

And on that note; Flashback: Clinton Called It "Disturbing" That Opponent Wouldn't Release Tax Returns (2000)

[Frankie's Market]

Re: The 2008 Presidential Elections - Chapter 2

And on that note; Flashback: Clinton Called It "Disturbing" That Opponent Wouldn't Release Tax Returns (2000)

All so very true. But let me tell you, Vanguard. This is not merely a case of simple hypocrisy on Clinton's part. Back in 2000, the Clinton family fortune was still at least several million dollars in the red, thanks to legal debts incurred during the Whitewater scandal. Bill was still in the White House, earning nothing more than his President's salary. Hillary was the First Lady, earning no salary. It was under those circumstances that Hillary ran for the Senate and called out opponent Rick Lazio when he was not immediately forthcoming with disclosing his tax returns.

Oh, but how things have changed since then! Speaking engagements galore for Bill. Multi-million dollar book deals for their memoirs. The legal debts have long been paid off and the Clintons are now fat cats sitting on an estimated fortune of $50 million. Releasing tax returns now would contain much more interesting information about Clinton finances than back in 2000, I guarantee you. The congressional disclosure forms that Hillary already filed may tell us the assets that the couple owns, like a jewelry store in London and an offshore data company in India, just to name two. But it doesn't give the precise values of those assets. Neither does it reveal exact earnings/compensation that Bill received for his being a consultant to several companies/investment firms. Tax returns would fill in the blanks to all those questions about where the Clintons are getting their money from and how much. Other information from a tax return would also reveal charitable contributions the Clintons have made, including any contributions they may have given to political non-profit organizations.

Even if Hillary releases the tax returns, there would still be the matter of disclosing the names of donors to the Clinton Foundation and the Clinton Library.

[craigwatanabe]

Re: The 2008 Presidential Elections - Chapter 2

so how does one go from millions in debt to $50Million assets? I know it takes money to make money, but if you're in debt in the millions how does one dig themselves out from that depth? Man people go broke and kill themselves over the loss of a Half million dollar home, or the loss of their $50,000 per year job! If I owed the IRS Millions of $$$ and didn't even make half of one million dollars per year, I would imagine I'd be in jail for tax fraud.

How'd Bill do it? He sure as heck didn't sell Amway!

[Frankie's Market]

Re: The 2008 Presidential Elections - Chapter 2

so how does one go from millions in debt to $50Million assets? I know it takes money to make money, but if you're in debt in the millions how does one dig themselves out from that depth? Man people go broke and kill themselves over the loss of a Half million dollar home, or the loss of their $50,000 per year job! If I owed the IRS Millions of $$$ and didn't even make half of one million dollars per year, I would imagine I'd be in jail for tax fraud.

How'd Bill do it?

Easy. By dramatically boosting his earnings.

Anyone who serves as president is basically limited to earning their salary. During Clinton's time, it was $200,000 per year.

But when presidents leave office, they are free to pursue many lucrative opportunities for income. Speaking engagements, book deals, consultant fees, board directorships, etc. You name it. Each of them dwarf a president's annual salary. Clinton can command upwards of $300Gs in just one night for making a paid appearance. That alone exceeds what he earned as president in an entire year.

It's been reported that Clinton earns as much as $10 million per year in speaking fees alone. That, in case you didn't do the calculation, is 50 times what earned as president. So yes, with that kind of boost in his income, he was able to pay off his debt and funnel the rest into his bank account, blind trust, and other investments where his money grows topsy-turvy.

[oceanpacific]

Re: The 2008 Presidential Elections - Chapter 2

Easy. By dramatically boosting his earnings.

Anyone who serves as president is basically limited to earning their salary. During Clinton's time, it was $200,000 per year.

But when presidents leave office, they are free to pursue many lucrative opportunities for income. Speaking engagements, book deals, consultant fees, board directorships, etc. You name it. Each of them dwarf a president's annual salary. Clinton can command upwards of $300Gs in just one night for making a paid appearance. That alone exceeds what he earned as president in an entire year.

It's been reported that Clinton earns as much as $10 million per year in speaking fees alone. That, in case you didn't do the calculation, is 50 times what earned as president. So yes, with that kind of boost in his income, he was able to pay off his debt and funnel the rest into his bank account, blind trust, and other investments where his money grows topsy-turvy.

Ex-presidents are "celebrities" and command such fees. That's Bill's version of the AMerican WAY .............

[craigwatanabe]

Re: The 2008 Presidential Elections - Chapter 2

Ex-presidents are "celebrities" and command such fees. That's Bill's version of the AMerican WAY .............

IT's no wonder why the Clinton's want to be presidents then, it's all about the money.

[Frankie's Market]

Re: The 2008 Presidential Elections - Chapter 2

IT's no wonder why the Clinton's want to be presidents then, it's all about the money.

Well, yeah,... once you leave office, then you're swimming in the dough. But as I pointed out earlier, when you are in the White House, you're pretty much restricted to your presidential salary (which is now presently $400,000), in addition to any income derived from a blind trust.

The following NY Times article sheds light on the state of Clinton finances.

http://www.nytimes.com/2007/06/15/us...l?ref=politics

Mrs. Clinton automatically became aware of her investments because of a government directive this spring that she, as a presidential candidate, had to dissolve her blind trust and disclose all of her assets to the public.

The decision by the Clintons to sell their stock carried a financial cost, according to their advisers and new personal financial documents made available Thursday. The couple will owe “substantial amounts” in capital gains taxes, an adviser said, and are giving up the potentially higher returns from stocks for the safety but generally lower returns of holding their money in various forms of savings accounts.

So as you can see, the decision by Hillary to run for president has actually involved a financial sacrifice on her family's part. But the costly step of liquidating their investment portfolio was a necessary ethical step.

If Hillary wins the Presidency, then her earnings become tied down to her presidential salary, which is chicken-feed for her. And because Bill would become, I don't know, First Man-First Husband? Whatever you want to call him. Now that he becomes the spouse of the president, he gets a zero salary. And he won't be able to earn millions on the speech/personal appearance circuit, not while he's married to the president.

[Leo Lakio]

Re: The 2008 Presidential Elections - Chapter 2

Just makes me appreciate Jimmy Carter all the more. Best ex-president in a long time.

[oceanpacific]

Re: The 2008 Presidential Elections - Chapter 2

In office or not, all former chief executives are addressed as "MR. PRESIDENT." I presume that female presidents (possibly Hillary) will be "MS. PRESIDENT" or "MADAME PRESIDENT."

[Vanguard]

Re: The 2008 Presidential Elections - Chapter 2

In office or not, all former chief executives are addressed as "MR. PRESIDENT." I presume that female presidents (possibly Hillary) will be "MS. PRESIDENT" or "MADAME PRESIDENT."

Well if the television series "Prison Break" is of any indication (haha yeah I know, right?) then a woman president would be called "Madam President". On a side note, I vaguely recall Dominic Purcell or one of the Prison Break writers say on the DVD commentaries that the character Caroline Reynolds was inspired by Hillary Clinton. Anyone else remember that?

And new news:

Remember that young girl in Hillary Clinton's "Who will pick up the red phone" commercial? Well apparently that stock footage was 8 years old. The girl is now a "fierce" supporter of Barack Obama.

Thanks for the informative post about finances, FM!

[glossyp]

Re: The 2008 Presidential Elections - Chapter 2

so the question is that if both Obama and Clinton were to run as a ticket, who would be on top?

Personally I cannot see Obama on top with Hillary's mindset. Maybe in midterm Obama can suggest to Hillary, "Hey can I have a turn on top...you know...change?"

Even more entertaining is the thought of Bill Clinton and Michelle Obama as the first and second lady or gentleman...yowza.

[Frankie's Market]

Re: The 2008 Presidential Elections - Chapter 2

Obama tops Clinton in the Wyoming caucus, netting 2 more delegates, with a comfortable 23 point victory. The Mississippi primary comes up next on Tuesday.

And oh, all that stuff about a Clinton/Obama ticket. Note that it's all coming from the Clinton camp. I'm not holding my breath on that happening unless 2 things happen.

1) Hillary's campaign directly and officially approaching Obama to discuss a deal, instead of talking about it through the media, and:

2) Such discussions/negotiations take place with the very clear understanding that it will be an Obama/Clinton ticket, not the other way around. As long as Obama holds a lead in pledged delegates and the popular vote, there would be absolutely no reason for Obama to even waste a minute of his time talking about a deal to be veep.

[Vanguard]

Re: The 2008 Presidential Elections - Chapter 2

According to this article, he wont be seeking VP with Senator Clinton.

He's still in the lead with the popular vote, delegates, and overall delegates.

[Vanguard]

Re: The 2008 Presidential Elections - Chapter 2

Hillary's website removes NY Governor Elliot Spitzer's name from list of endorsements.

It's a start, but does she reject and denounce him?

Obama: If I'm not Ready, Why Suggest Vice Presidency?

[anapuni808]

Re: The 2008 Presidential Elections - Chapter 2

why would she denounce & reject him for something like this? she is, after all, still married to Bill!