The guy knew he was going to run for president. After he loses we will see how much he donates next year. That is what will tell you what kind of man he is.
Clinton's old clothes used as tax write-off/Value of donated underwear inflated?
Reuters News Service
WED 12/29/1993 HOUSTON CHRONICLE, Section A, Page 6, 2 STAR Edition
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WASHINGTON -- President Clinton donated his old underwear to charity in the 1980s and took what may have been inflated tax deductions for it, according to documents published Tuesday.
For at least several years as governor of Arkansas, Clinton gave old socks, long and regular underwear and other secondhand clothes to groups like the Salvation Army and Goodwill Industries.
Like every taxpayer, he was entitled to deduct from his income taxes their fair-market value, or what a willing seller would pay a willing buyer.
Clinton valued three pairs of his old underwear at $6, or $2 a pair, in publicly available documentation supporting his 1986 tax return.
He valued a pair of long johns at $15 in connection with his 1988 return, according to a handwritten inventory of the items published by the Washington Post.
Such lists are typically prepared to support the write-offs in case of an Internal Revenue Service audit.
Current guidelines of the Salvation Army and Goodwill Industries suggest Clinton consistently valued his give-aways at far above their fair-market value.
"We don't get it (used underwear) very often, but usually it will be sorted through to see what's usable, and the rest sold as rags," Salvation Army Major Dewey Alderson, the Little Rock area commander, told the Washington Post.
The market price for rags is 5 cents to 6 cents a pound, the paper reported, citing several Little Rock charity directors.
The head of the IRS, Margaret Richardson, said she knew of no plans to delve into Clinton's write-offs for donated clothes.
"I don't know that we would have any special plans to" investigate, she told a news conference at IRS headquarters called to publicize the start of the new tax-filing season.
"I'll be delighted to take your questions now, except any questions that relate to the fair-market value of long underwear," she said.
A list put together by Clinton for the return filed for 1986 is titled "Salvation Army 12/27."
It shows items numbered 1 through 17, for which he took a deduction of $555.
Item No.1 is "Gabardine Suit -- Ripped pants -- $75."
No. 8 is "Brown Sportcoat -- 100."
No. 10 is "6 pr. socks -- 9."
And No. 12 is "3 pr. underwear -- 6."
