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by Brigitte Nacos
The numbers in Hillary and Bill Clinton’s tax returns for
the last 8 years are breathtaking—a total of $109.2 million since 2000 and
$20.4 million in income last year alone. Most of this wealth was brought in by
the former president on account of his fees for speeches all around the world.
His and her book advances were not shabby either. According to a list
of the Bill Clinton’s speeches from 2001 through 2005, he collected between
$28,100 (London School of Economics) to $400,000 (Mito City Political Research
Group, Japan)
per speech for a total of $31 million during that period. But Bill Clinton is
not unique among former presidents. After leaving the White House, Ronald
Reagan collected $2 million for two speeches in Japan. George Herbert Walker Bush,
too, made more than some change on the lecture circle—although he, unlike
Clinton and Reagan, was never known as a great communicator. His son, the
current president, told author Robert Draper, that he too wants “to hop on the
lecture circle when he leaves office” and “replenish the ol’ coffers.” He
guessed that his Dad made about 50,000, 75,000 dollars a speech.
To be sure, Bill Clinton does not only love to talk—he does it
well, often and for eye-popping fees. Yet, I found it hilarious when NBC’s
Andrea Mitchell reported this morning with great seriousness on the high income
of the Clintons and the yet unknown implications for her presidential campaign. After all,
Mitchell’s husband, former Federal Reserve Chairman Alan Greenspan, has used
his retirement to give many speeches here and abroad for a reported $150,000
per speech. Since neither Greenspan nor Mitchell run for public office, they do
not have to reveal their tax returns. But it is entirely possible that the
former Fed chair earns as much for his speeches as Bill Clinton—or comes at
least close to the former president. The $8 million advance for his book
authored after his departure from the Fed is major league as well.
The Clintons are not an exception. Ex-presidents as others who leave high offices use their
name recognition or notoriety or both to make money—big style.
And sitting and former first ladies and first sons and
daughters collect hefty sums as well as authors or in other endeavors.
Whether we like it or not, that’s the reality.
For more comments on current affairs, see my blog: http://www.reflectivepundit.com