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May 6, 2008

Tough on China: is she referring to tableware?

From McClatchy:

“Those of you who are undecided, I hope I’ll be able to persuade you and earn your vote,” Clinton said.

In High Point later, she called for renegotiating trade agreements. She singled out China, accusing the country of manipulating its currency, unfairly subsidizing its domestic companies and overlooking counterfeiting.

“I will get tough on China because what they are doing is not right,” Clinton said.

Many of the thousands of North Carolina furniture jobs lost in the last decade have gone to China and other Asian countries, where labor costs are also lower.

Introducing Clinton, Gov. Mike Easley talked about the same theme.

“I don’t know about the rest of the candidates, but Hillary Clinton is not ready to surrender America’s economy to China just yet,” he said.

Nope, she’s not surrendering our jobs to China right now. But McClatchy also reported this: Clinton disclosures didn’t list $24 million of Bill’s income. she broke no laws by limiting their full income disclosure, as the rules are riddled with loopholes. An excerpt:

WASHINGTON — Sen. Hillary Clinton excluded nearly $24 million of her husband’s earnings from Senate financial statements from 2004 through 2006, capitalizing on rules that permit senators to limit disclosures of some of their spouses’ income.

Her decision, while fully consistent with Senate rules and norms, delayed the release of financial information about former President Clinton’s soaring income until the couple released their tax returns in early April, under pressure from Democratic presidential rival Barack Obama. By then, about 40 states had completed their Democratic primaries and caucuses, meaning that those voters didn’t get a clear look at Bill Clinton’s finances.

Like Clinton, Obama listed his wife Michelle’s salary and directors’ fees only as “over $1,000,'’ which complies with Senate rules. Obama and his wife, a Chicago lawyer, aren’t as wealthy as the Clintons, however, and their finances are less murky.

GOP candidate John McCain’s wife, Cindy, is the heiress to a beer distributorship and has owned stock in oil and pharmaceutical companies, but the specifics are elusive. McCain has declined to release his wife’s tax returns, saying they keep their finances separately.

Watchdogs say these scenarios not only raise issues about the candidates’ openness, but also point to shortcomings in government ethics requirements.

Bill Buzenberg, the executive director of the Washington-based Center for Public Integrity, said that the disclosures by the Clintons and McCain were “inadequate.'’

“There’s no other way to sugarcoat it,'’ he said. “It’s not transparent. It needs to be because it does potentially involve all kinds of entangling things we don’t know.'’

The Clintons’ tax returns show that Bill Clinton earned nearly $51 million from 2004 through 2006. His wife informed the Senate of about $27 million of it, consisting almost entirely of fees from his globe-trotting speaking tours, from which he has fetched as much as $400,000 for a single appearance.

Reporting rules for senators and presidential candidates allowed Hillary Clinton to describe the amounts of her husband’s other income sources as “over $1,000.” These included his more than $10 million in advances and royalties from two book deals, as much as $11.5 million from offshore partnerships that invested in a Chinese media company and more than $2 million from a Nebraska firm whose chairman reportedly spent $900,000 flying the Clintons aboard corporate jets for personal, business and campaign trips.

So $11.5 million from a Chinese media company. Which she didn’t disclose in April. And she’ll get tough on China while she’s in the hunt for votes, just as she’s opposed to NAFTA after the jobs have departed. We know this because we trust her to be open and forthcoming about their income, nearly 20% of it unmentioned with half of it coming from China.

Trust. Because she says we must. Will she and her husband give up their income coming from China? Or is that really an issue we should all overlook?

One Response to “Tough on China: is she referring to tableware?”

  1. Unpartisan.com Political News and Blog Aggregator Says:

    The Trail…

    Stung by the defection of a former chairman of the Democratic Party, Sen. Hillary Clinton’s campaign…