West Palm Beach, FL – March 2, 2007 – After calling for reform to the charitable trust industry in America, the Washington Post reported that Hillary Clinton failed to disclose a family charity she operates , with former president Bill Clinton, that has enabled the couple to write off more than US $5 million in taxable income since 2001.
Daniel Imperato, leading Independent Presidential Candidate, called for a reform of the charitable system as early as August of 2006, during a C-SPAN 2 Broadcasted press conference.
He subsequently called for further reform in a December 2006 press release where he said, “I, Daniel Imperato, on December 22, 2006 stand up to the American people to say I’ve had enough. The tax deductible funds are a diversion from the billionaires and the United States of America’s income tax payments, allowing tax deductible contributions to go to private foundations under their control , without any government scrutiny, watching the distribution of funds , or guaranteeing that the tax deductible contributions are being spent properly.”
This statement came on the heels of the formation of the Greenberg Charitable Fund where three billionaires (Greenberg, Gates, and Buffet) contributed an estimated $75 billion, for tax-free charitable purposes.
“Whether its Bill Gates, or Hillary Clinton, everyone needs to support the system and support America. The financially wealthy in this country are putting their money into tax write offs with no oversight. While the wealthy are supporting their own charitable trusts to get extra tax write offs they are taking away from the real charity that America should be supporting, Social Security.”
Imperato supports putting capped contributions on unregulated charitable trusts and designating the only uncapped charity as the Social Security Fund.
Upon an Internal Revenue Service review, the Clinton Family Foundation gave grants to the following entities: Yale University, where both Hillary and Bill attended law school; groups named for d eceased heads of state in Israel and Jordan; and a charity connected to the Arkansas businessman who helped Hillary Clinton make $100,000 on a commodities trade a decade ago.
Several high-profile US politicians have come under scrutiny for omitting family foundations from their financial disclosure reports, including former Senate majority leader Bill Frist, a Republican, and house Speaker Nancy Pelosi, a Democrat.
“The evidence is clear. There are so many people who should be placing their money back into the Social Security System for the people of America. While our elected leaders and billionaires have their retirement, Americans across the country have to deal with an inadequate Social Security system that forces them to work in their old age.”
Imperato concluded his statements with the following, “Once again, I have brought to light a problem that has been brewing in the shadows for a long time. I want the American people to know that I have the ability to not only see the problems of this country , but I have the ability to solve the problems. I am a man of facts and solutions. I stand up to the American people to say that when you look at your next president, vote for someone who is about facts and solutions, Vote for Daniel Imperato.”
(Excerpts from this article were taken from the Melbourne Herald Sun “Hillary Clinton caught on charity tax scheme” February 28, 2007.)
*** This release has been prepared by i1connect, an independent news agency***
About Daniel Imperato (www.imperato2008.com)
Daniel was born in Boston, Mass (1958), and began his business career in 1977 transforming the manufacturing facilities in Israel through adapting them to the global marketplace along with bringing financing to the factories for global expansion. Daniel brings over thirty years of experience in global business planning and development and has personal relationships at high levels around the world. He is currently a Papal Knight with honors from the Vatican, was a board member for the African Center Foundation, a United Nations NGO, and the founder of Imperiali Organization ( www.imperiali.org). Presently, he has organized a Presidential Committee in order to organize support for a run at the White House in 2008.
For Interviews and Media Inquiries Contact:
Imperato For President 2008
This release was published on openPR.