Commentary Magazine


Is Hillary Ashamed of Her Vast Wealth?

In Hillary Clinton’s recent interview with the Guardian, she gave an interesting answer when pressed on whether her exceedingly rich lifestyle is in conflict at all with her party’s class warfare. “But they don’t see me as part of the problem,” she said, “because we pay ordinary income tax.”

Such is the mind of the leftist: good works are done through the government. She didn’t say she’s a good example of the deserving rich because she gives charity. She said she pays her taxes. She surrenders enough of her money to the government, and therefore she gets to keep the rest, no complaints. It’s a bit of a non sequitur: if the concern is income inequality, paying your taxes doesn’t exactly get at the root of the issue, does it?

But then Clinton protested too much: “and we’ve done it through dint of hard work,” she continued. No one really doubts Clinton herself earned her salary as secretary of state, but that’s not where most of the family wealth comes from. It comes from, instead, wealthy donors shoveling money at the Clintons, often through speaking fees. Paying Bill Clinton millions of dollars to talk about himself is honest work, sure–but it’s doubtful the public thinks the Clintons had it tough.

That’s the upshot of the Washington Post’s story laying out just how the Clintons amassed all this post-presidential wealth:

Bill Clinton has been paid $104.9 million for 542 speeches around the world between January 2001, when he left the White House, and January 2013, when Hillary stepped down as secretary of state, according to a Washington Post review of the family’s federal financial disclosures.

Although slightly more than half of his appearances were in the United States, the majority of his speaking income, $56.3 million, came from foreign speeches, many of them in China, Japan, Canada and the United Kingdom, the Post review found.

The financial industry has been Clinton’s most frequent sponsor. The Post review showed that Wall Street banks and other financial services firms have hired Clinton for at least 102 appearances and paid him a total of $19.6 million.

Since leaving the State Department, Hillary Clinton has followed her husband and a roster of recent presidents and secretaries of state in this profitable line of work, addressing dozens of industry groups, banks and other organizations for pay. Records of her earnings are not publicly available, but executives familiar with the engagements said her standard fee is $200,000 and up, and that she has been in higher demand than her husband.

Here’s the thing: It’s actually OK that the Clintons are filthy rich–at least it’s OK with conservatives. There’s nothing wrong with the fact that the Clintons are rolling in money basically handed to them by the lords of American finance and Wall Street’s heavy hitters. That’s because contrary to the left’s hysterical propaganda, the financial industry is not evil; it in fact creates wealth and jobs, not to mention keeps New York humming along.

It’s perfectly fine if the Clintons go home to a giant vat of cash from Goldman Sachs and swim around in it, Scrooge McDuck-style. It’s good exercise! And there’s nothing criminal about being paid to hang out at fancy resorts and make jokes and hobnob in return for gobs and gobs of money. But the Clintons leave the impression that something’s not quite right by the way they try to spin their fees. For example:

The Clintons also sometimes request that sponsors pay their fee as a donation to the Bill, Hillary and Chelsea Clinton Foundation, the family’s nonprofit group that leads global philanthropic initiatives. Hillary Clinton is doing this with her $225,000 fee for a speech this fall at the University of Nevada at Las Vegas, according to her office.

Oh come on. The American people don’t enjoy having their intelligence insulted so brazenly. And again, there’s really no reason to be rude: the Clintons did not steal their fabulous wealth. They were paid more money than most Americans can even imagine to show up, say a few words, and maybe take some pictures. They can be proud of the lives they’ve made for themselves. The Clintons are very, very rich–completely out of the orbit of most of the country, to say nothing of the planet.

Sure, it’s not as though–like, say, Mitt Romney–the Clintons were creating jobs or helping businesses adapt to new climates, or turning around failed ventures. And it’s also true that the Clintons are generally paid tons of money just because they’re the Clintons. But trading on celebrity isn’t illegal.

Now, of course it’s possible that voters won’t love the fact that the Clintons essentially used their political power and connections, not to mention the fact that many donors believe Hillary will be the next president, to convince the wealthy to give them lots of money. But what’s the alternative? That the Clintons would get private-sector employment creating wealth, learning skills, helping local communities, and making sure workers have jobs and benefits? Liberals treated the last guy who tried that like he was the spawn of Satan. The Clintons are acting this way because they hope to capture the Democratic Party nomination, and they know their audience.

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