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Saturday, October 29, 2016

Audit: Bill Clinton Inflated Tax Write-Off by Overvaluing His Old Underpants

Americans for Tax Reform recently reviewed Bill Clinton’s tax returns and discovered he overpriced the value of his used underpants and other clothing items that he donated to charity to increase his tax write-off when he was governor of Arkansas.

Clinton hand wrote in 1986 multiple deductions for clothing items that he was donating to the Salvation Army, the Washington Examiner reported.

As governor of Arkansas in 1986, Clinton hand wrote a $6 charity deduction for “3 pr. underwear” that even today are only valued at $1 each, according to the analysis from Americans for Tax Reform. He also claimed $75 for “Garbardine suit – ripped pants” valued by Salvation Army this year at $10-$60.

For just 10 items the Clintons overvalued in their 1986 tax returns, said the group headed by Grover Norquist, they were able to take a write-off of over $1,500 in 2016 dollars.

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