Forget Panama – Delaware should be your money laundering, tax haven of choice
The address “1209 North Orange Street” in Wilmington, Del., has become known in recent years as the epicenter of U.S. corporate secrecy. The squat, split-level building is the official address of over 285,000 companies, many of which are looking to take advantage of Delaware’s Panama-like secrecy rules, tax incentives, and business-friendly case law.
In the wake of the recent “Panama Papers” scandal, this unassuming brick office has received renewed scrutiny from the Washington Post, the New York Times, the Telegraph, and advocates for corporate tax reform.
I just realized that when Bill and Hillary come to Delaware it will be a lovely 1/2 hour walk along the Brandywine from their campaign headquarters to their financial headquarters.
I bet I would have gotten a comment on this post if I had said, “Forget Panama – Delaware is Clinton’s money laundering, tax haven of choice”
OUTRAGE!!!!!!!!!!!!!
“Hillary and Bill Clinton quietly set up two shell companies listed at ‘1209 North Orange Street’ in 2008 and 2013, the Washington Free Beacon has found. The names of the companies, but not their location, were first made public in tax filings released by Hillary Clinton last year.
According to records, one of the Clintons’ “1209 North Orange Street” companies is WJC, LLC, which was set up by Bill Clinton in 2008 as a pass-through for his consulting fees.
Another company at the same location, ZFS Holdings, LLC, was set up in February 2013, one week after Hillary Clinton left the State Department. Hillary Clinton received $5.5 million from her book publisher, Simon & Schuster, through the company.”
Unless everyone can barf TV talking points back and forth at each other there’s no point, Jason, but I respect your effort.
Bernie Sanders’ trip to that Vatican conference to make public remarks about the income inequality and the poor was “controversial” but nobody even bothered to read and/or comment on this.
Apparently Bernie Sanders can quote Fuck Off unquote because he used some “offensive” rhetorical flourish and said the word “unqualified.”
You know what, if you set up shell corporations in tax haven state to shield your income, you’re unqualified. How’s that fucking grab you?
This space has quickly devolved into a pretty sad joke.
“Delaware’s Panama-like secrecy rules, tax incentives, and business-friendly case law.”
Excuse me, but I am pretty sure it’s the other way around. Panama has Delaware like secrecy rules, tax incentives, and business-friendly case law. Isn’t Delaware the first among equals?
Yeah, Dave, which state entity did it first is certainly the crux of this issue. Thanks for the insight.
There is nothing shady per se about having a passthrough corporation for your consulting fees. It is just a standard and smart business move.
That’s fucking hilarious. I’m embarrassed for you & your family.
Actually, now that I see you are challenged when it comes to sarcasm, I’ll be much more understanding of your impairment in the future.
Of course what I wanted to write and did not, and now will is:
“Hillary and Bill Clinton quietly set up two shell companies listed…”
What the hell does that even mean? Is that as opposed to “loudly.” Why would anyone publicize their personal financial dealings? Don’t they teach people to guard their accounts, passwords, financial entities. That’s media crap which unfortunately passes for journalism these days. AND “the names of the companies…were first made public in tax filings released by Hillary Clinton last year.” So the “quietly” wasn’t all that quiet it seems. I suppose the Beacon is pissed because she didn’t provide the damn account numbers and her pin as well!
And speaking of tax returns, Clinton released her complete tax returns (presumably part of the source of the Beacon’s awesome investigative reporting), all 44 pages for 2014.
Have any other candidates done so?
I would need more information before I weigh in on this. I have friends who have accounts like these. Not all are bad.
“Not all are bad.”
Not all your friends are bad or not all these accounts are bad?
LOL! I have some bad friends!
You rang? 😉
Shell companies are a problem when they are being used for nefarious reasons. Like some of the headline making stuff with the Panama Papers. Otherwise, they can be fairly routine transactions with some utility for startups or for complex financial planning. A primer.
I especially enjoy how she thinks we don’t know what they are. “A primer…” You fucks are a real riot…
“Legitmate” loopholes are OK when we do it. Got it.
Well of course you don’t know what they are. Which is how you think you are making a point with that “loophole” thing.
Don’t quit your day job.
Shorter Puck- taxes are for poor people.
I guess we’ll never know if Bernie set up any kind of corporation. Or anything else he or his wife do with their personal finances…since they refuse to release their taxes, something every other presidential candidates does. What’s he hiding? His excuse of “Ooops, can’t find them, sorry” is so pathetic. Either he’s actively hiding something, or he’s so incompetent at basic filing he shouldn’t be trusted with so much as a cable bill.