Clinton foundation caught in IRS crosshairs

Clinton foundation caught in IRS crosshairs–fox–August 1, 2016–8kh.,b36-43

“Well, actually, normally I would say it’s pretty serious but we’ve seen with the whole Lois Lerner kind of email situation maybe it’s not going to be that heavy,” said Phang adding that the IRS should be as tough on the foundation as it would be with any other group.

“Is the IRS really standing for the ‘Ineffective Review Service’ and not the Internal Revenue Service?  Is the tax exempt investigation that’s going to occur on the Clinton Foundation really going to reveal anything?  Well, it should,” Phang told the FOX Business Network’s Ashley Webster.

Rep. Martha Blackburn (R-Tenn) has been leading a year-long push to investigate the Clinton Foundation’s use of funds which includes letters sent to the IRS and the FTC.

“It’s [The IRS tax code] very strict when it comes to private foundations because it’s exactly what it sounds like, you get exempt from taxation for hundreds of millions of dollars if not billions of dollars that are flowing through these organizations.  If you do not maintain properly your 501c3 status which is exactly the kind of organization the Clinton Foundation is, you get scrutiny by the IRS.”

Despite the strict tax codes covering tax exempt status, Phang was skeptical anything would come of the investigation.

“But is [IRS Commissioner] John Koskinen really going to look into the Clinton Foundation?  It seems a little quid pro quo these days in terms of how the Clintons work with other people, so I’m not sure my confidence level is that high.”

Conservative lawmakers are calling for Koskinen to be impeached for the way the IRS allegedly handled politically active nonprofits.

Trump accuses Clinton of committing a felony?

Donald Trump alleged Hillary Clinton received $58,000 worth of jewelry from a foreign country while she was Secretary of State during his speech.

Donald Trump may have dropped another bombshell against Hillary Clinton.

During his speech at his Trump SoHo hotel in New York, Wednesday, Trump accused Hillary Clinton of committing a felony during her time as Secretary of State according to Fox News Senior Judicial Analyst Judge Andrew Napolitano.

“Hillary Clinton accepted $58,000 in jewelry from the government of Brunei when she was Secretary of State – plus millions more for her foundation. The Sultan of Brunei has pushed oppressive Sharia law, including the punishment of death by stoning for being gay. The government of Brunei also stands to be one of the biggest beneficiaries of Hillary’s Trans-Pacific Partnership, which she would absolutely approve if given the chance,” said Trump.

According to the Tax Foundation, Hillary Clinton’s tax plan will create higher taxes for individuals and businesses. FOXBusiness.com breaks down how much it will cost the taxpayer and the economy.

·         1. Create a shrinking economy Tax Foundation found that the economy would lose 300,000
full time jobs under Clinton’s tax plan and shave off 0.8% in wages of those that remain employed.

·         2. Reduce GDP The taxes and growth model showed her plan would lower U.S. GDP by 1% over the long term — that means a rise in inflation.

·         3. Reduce Capital Investment The Tax Foundation found that Clinton’s plan will cause capital investment to drop 3%.

source–katie phang, ashley webster, julia limitone, fox, gerri willis,

 

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