Kamala Harris keeps assets in tax-advantaged trust, appearing to violate own ethics pledge

Kamala Harris keeps assets in tax-advantaged trust, appearing to violate own ethics pledge
The trust is inconsistent with Biden and Harris' campaign plan to crack down on such vehicles
By Joe Schoffstall | Fox News | Published 1 hour ago

Fox News contributor Raymond Arroyo joins Laura Ingraham for an end of the week edition of 'Friday Follies'

Vice President Kamala Harris keeps assets in a tax-advantaged family trust, a move that appears to violate an ethics pledge she and President Biden made on the campaign trail.

According to Harris' financial disclosure form released Monday, she has been a trustee of the KDH/DCE family trust since 2017. The trust's assets "are not reportable," according to the filing, effectively obscuring some of the vice president's holdings from public view.

The trust is inconsistent with Biden and Harris' campaign plan to crack down on such vehicles once in office. Biden and Harris pledged to work with Congress to "eliminate the trust loophole in existing financial disclosure law," and Biden said he would "require that any member of his Administration who is a beneficiary of a discretionary trust disclose all of its holdings."

It is unclear why Harris does not have to adhere to the pledge and report the assets held in the trust. The vice president's office did not respond to a request for comment.

A family trust, or a living trust, provides tax benefits to married couples by allowing them to maximize their federal estate tax exemption and are "ideal for people that own real estate in more than one state and an excellent method of asset protection," according to a California law firm.

While Harris obscures holdings within the trust, some of its assets can be gleaned from public sources from areas in which the vice president has lived.

Washington, D.C. property records show that Harris and Second Gentleman Doug Emhoff used the KDH/DCE trust to purchase a luxury condo near D.C.'s Georgetown neighborhood in 2017. The condo is currently listed for sale on Zillow with an asking price of nearly $2 million.

The couple’s trust is also tied to San Francisco real estate. City property records list the KDH/DCE family trust as a grantee of a condo Harris purchased for $489,000 in 2004 when she was first elected attorney general in California. The loft's value nearly doubled since that time, and it sold in March for $860,000, according to Zillow.

Harris and Emhoff also transferred a multimillion dollar Brentwood, California home into the vehicle. Emhoff purchased the home for $2.7 million in 2012. After they married in 2014, the home was then rolled into the trust. The Los Angeles property is estimated to be worth $5.2 million.

The current estimated combined worth of the real estate in the trust is $7.2 million.

Harris also released tax documents earlier this week which show that the pair reported an adjusted gross income of $1,695,225, while President Joe Biden and first lady Jill Biden reported an adjustable gross income of $607,336.

Harris’ forms show that her and her husband had donated just 1.6% of their income to charity last year, a level that is below the average for their level of income, FOX Business reported.

This is only a surprise to anyone who missed the Biden administration firing staffers for past marijuana use even though Kamala essentially admitted to the same during the 2020 election campaign, or failed to notice all the broken promises Biden and his regime made on the campaign trail then immediately abandoned after winning the election.

Biden and Harris are at least as corrupt as any other white house occupants we've had.

It is known.

Temple wrote:

tax strategies and managing your tax bill should be part of any sound financial approach.
Some taxes can be deferred, and others can be managed through tax-efficient investing.
With careful and consistent preparation, you may be able to manage the impact of taxes on your financial efforts.

Translation:
"Smart people avoid taxes."

How very Trumpian of you. lulz

Vitriol wrote:

This is only a surprise to anyone who missed the Biden administration firing staffers for past marijuana use even though Kamala essentially admitted to the same during the 2020 election campaign, or failed to notice all the broken promises Biden and his regime made on the campaign trail then immediately abandoned after winning the election.

Biden and Harris are at least as corrupt as any other white house occupants we've had.

It is known.

The Wise And Powerful wrote:

Vitriol wrote:

This is only a surprise to anyone who missed the Biden administration firing staffers for past marijuana use even though Kamala essentially admitted to the same during the 2020 election campaign, or failed to notice all the broken promises Biden and his regime made on the campaign trail then immediately abandoned after winning the election.

Biden and Harris are at least as corrupt as any other white house occupants we've had.

It is known.

ok-- show me the receipts- the statistics-
their corruptness, show me the documents.
I'm curious ..

Temple wrote:

The Wise And Powerful wrote:

Vitriol wrote:

This is only a surprise to anyone who missed the Biden administration firing staffers for past marijuana use even though Kamala essentially admitted to the same during the 2020 election campaign, or failed to notice all the broken promises Biden and his regime made on the campaign trail then immediately abandoned after winning the election.

Biden and Harris are at least as corrupt as any other white house occupants we've had.

It is known.

ok-- show me the receipts- the statistics-
their corruptness, show me the documents.
I'm curious ..

Google can be your best friend.

The Wise And Powerful wrote:

Temple wrote:

The Wise And Powerful wrote:

Vitriol wrote:

This is only a surprise to anyone who missed the Biden administration firing staffers for past marijuana use even though Kamala essentially admitted to the same during the 2020 election campaign, or failed to notice all the broken promises Biden and his regime made on the campaign trail then immediately abandoned after winning the election.

Biden and Harris are at least as corrupt as any other white house occupants we've had.

It is known.

ok-- show me the receipts- the statistics-
their corruptness, show me the documents.
I'm curious ..

Google can be your best friend.

fuk google-- you're my best friend--
So show me--

Temple wrote:

ok-- show me the receipts- the statistics-
their corruptness, show me the documents.
I'm curious ..

It's not my fault you haven't paid a bit of attention to either of them until now and it's not my responsibility to repair your monumental ignorance on the subject, especially given the likelihood it's at least partially feigned.

It's not debatable: Joe and Kamala are corrupt as fuck.
If that's news to you then maybe shut the fuck up about things you know fuckall about- like politics.

Vitriol wrote:

Temple wrote:

ok-- show me the receipts- the statistics-
their corruptness, show me the documents.
I'm curious ..

It's not my fault you haven't paid a bit of attention to either of them until now and it's not my responsibility to repair your monumental ignorance on the subject, especially given the likelihood it's at least partially feigned.

It's not debatable: Joe and Kamala are corrupt as fuck.
If that's news to you then maybe shut the fuck up about things you know fuckall about- like politics.

Calm down-
Obi, my best friend is going to inform all
via documents and receipts about the
Joe and Kamala secrets and corruption, wait for it.

Temple wrote:

Calm down

It would take a lot more than a shitlib trying to waste someone's time revisiting Joe's half-century record of being a corrupt douchebag or Kamala's shorter but no less despicable record of being a corrupt career opportunist to make me upset. I just don't have any patience or compassion to spare for someone so morally and intellectually bankrupt he would willingly throw away whatever credibility he might otherwise have had just to meatshield for a couple of sociopathic twits like Biden and Harris.

Maybe skip your next brunch with the other shitlibs and spend the time doing something more worthwhile, like educating yourself.

Not a problem at all according to huffmyshorts etal. They will report this as clever ingenious investing by the vice POTUS.
If this were Pence, he would have been impeached for ethics violations.
Oh baby the backlash is gonna be sweet.