Donald Trump has been stumping the Delaware ahead of the upcoming primary. Delaware is notorious for having extremely lax corporate tax laws, making it America’s top onshore tax haven. Donald Trump knows this, and bragged about how many companies he had registered there:
Do we love Delaware, do we love it? When I left the office I asked for a couple of things. I said ‘Number one, I spend a fortune in Delaware, nobody knows that, right? It’s a great place. So I said to my people I had no idea, I said you know we do a lot of business in Delaware.
That’s good, ’cause that means taxes and everything. So I said how many entities do we have registered in Delaware? Like companies and this and…So I figured they’d maybe say two or three, right? 378. I said ‘What?’ So we have 378 entities registered in the state of Delaware, meaning I pay you a lot of money, folks! I don’t feel at all guilty, okay?
Spoken in Trump’s normal frantic, garbled cadence, it’s a little unclear what he has to not feel guilty about. Is it the fact that he just bragged about taking advantage of the tax loopholes that cost the US billions of dollars per year? The Institute on Taxation and Policy had this to say:
“A loophole in Delaware’s tax code is responsible for the loss of billions of dollars in revenue in other U.S. states, and its lack of incorporation transparency makes it a magnet for people looking to create anonymous shell companies, which individuals and corporations can use to evade an inestimable amount in federal and foreign taxes.
The Internal Revenue Service estimated a total tax gap of about $450 billion with $376 billion of it due to filers under-reporting income in 2006 (the most recent tax year for which this data is available).[i] While it is impossible to know how much underreported income is hidden in Delaware shell companies, the First State’s ability to attract the formation of anonymous companies suggests that it could rival the amount of income hidden in more well-known offshore tax havens.”
Trump’s egomaniacal hypocrisy continues as he rails against other companies hiding their profits overseas. “We have companies that have trillions of dollars, cumulatively, outside of our country,” Trump said at the 1:47:00 mark of the above video, alluding to offshore tax havens. “The Republicans and the Democrats agree, they want the money brought in. And yet the government can’t make a deal, because we don’t have a leader in Obama.”
So Trump boasts about how many companies that he has filed in Delaware, where the only reason to do so is a lax corporate tax loophole and opaque shareholder laws, costing the American people billions. Then, in the same speech he threatens companies that use tax havens that don’t happen it be in the US. What’s the difference, Mr. Trump? It’s all money that rightfully belongs to the US government that you and other companies are keeping for themselves.
Sources:
Video: https://www.youtube.com/watch?v=51qasW8X4Fk
http://www.newsweek.com/panama-papers-secret-state-delaware-445436
http://www.washingtontimes.com/news/2016/apr/23/donald-trump-loves-onshore-tax-haven-delaware/
http://www.salon.com/2016/02/22/how_delaware_became_an_american_haven_for_grand_corruption/
http://itep.org/itep_reports/2015/12/delaware-an-onshore-tax-haven.php#.Vxz4UEerpPY
#1: sneakypete To: Deckard, *Hypocrisy and Hypocrites* (#0)
There is Trump ADMITTING that he not only doesn't run his own businesses,but he doesn't even know what is going on with them because HE MAKES NONE OF THE DECISIONS.
Is there any doubt this is what he means when he says he will "hire the best people to run America" if he is elected?
Isn't the fact that America is already being ran by a bunch of un-elected unknown bureaucrats responsible to no one but the insiders that hired them one of the things conservatives have been complaining about for decades?
sneakypete posted on 2016-05-14 04:33:13 Reply Private Reply
#2: Roscoe To: Deckard (#0)
Roscoe posted on 2016-05-14 05:54:12 Reply Private Reply
#3: calcon To: Deckard (#0)
GO TRUMP 2016
calcon posted on 2016-05-14 11:24:31 Reply Private Reply
#4: Deckard To: calcon (#3)
Oh - I get it.
Just because I do not in any way support Trump, in your addled mind that means that I support Hillary.
You are using a common disinformation tactic known as a False Dichotomy
A false dichotomy is typically used in an argument to force your opponent into an extreme position -- by making the assumption that there are only two positions.
Examples:
Once again, for the terminally learning impaired....I do NOT support either Trump OR Clinton.
***
I just don't know how to make it any simpler for you to grasp.
Deckard posted on 2016-05-14 12:02:52 Reply Private Reply
#5: TheFireBert To: Justin@whatdonaldtrumpliedaboutyesterday.com, Deckard (#0)
Nope. No money "rightfully" belongs to the government. That would imply that the government has the right to all of the monetary assets. It does not.
The government *does* create the denominated bills that it prints, but only because it is supposed to be backing it with gold that was purchased from "We the People", and other sources. Theft occurs each time the GrubberMint prints more of these dollars, cheapening the value of the People's purchase each time.
The GrubberMint is not a wealth creator. It creates nothing since its innate purpose is to serve, not create.
It is funny that this is coming from a website dedicated to forming biased opinions on a presidential candidate. Nothing wrong with doing that, but these sites are often devoid of facts or not in a position to fully research the subjects.
TheFireBert posted on 2016-05-14 16:59:32 Reply Private Reply
#6: Roscoe To: Deckard (#4)
I know.
Roscoe posted on 2016-05-14 17:03:33 Reply Private Reply
#7: Roscoe To: TheFireBert (#5)
Roscoe posted on 2016-05-14 17:05:51 Reply Private Reply
#8: Hondo68 To: Deckard, Ellen Degenerate, Donald Trump (#0)
Hondo68 posted on 2016-05-14 17:15:47 Reply Private Reply
#9: TheFireBert To: Roscoe (#7)
Both sides of the Republican and Democratic National party want the same thing, and dazzle us with bullshite in different ways to make us think that they want different things.
I am not pulling for Trump in general, but it sure does beat the alternatives.
I do worry that he may still be the strawman for the party's objectives, but who else can we reasonably believe is a better alternative? The fact that everyone else in the political world hates him ought to be enough reason to pay attention to him.
TheFireBert posted on 2016-05-17 13:19:54 Reply Private Reply
#10: TheFireBert To: hondo68 (#8)
This looks like a stab at successful dreaming.... See this post:
Can you say why America is the greatest country in the world? @ LF
Can you say the same for the other viable candidates?
TheFireBert posted on 2016-05-17 13:24:46 Reply Private Reply
#11: Deckard To: Roscoe (#6)
Yeah sure - That must be why I posted this :
Selected not Elected — Rothschilds Hold $100,000 a Plate Dinner Fundraiser for Guess Who
Fuckwad.
You don't seem to grasp the concept that someone can find both Hillary and St. Donald reprehensible.
Clinton and Trump both use the same tax haven to hide their assets.
Trump boasts about how many companies that he has filed in Delaware, where the only reason to do so is a lax corporate tax loophole and opaque shareholder laws, costing the American people billions. Then, in the same speech he threatens companies that use tax havens that don’t happen it be in the US. What’s the difference, Mr. Trump?
Apparently the Donald's hypocrisy is a big selling point for you and the other members of his cult.
Oh - in case you still don't get it, Hillary sucks too.
Deckard posted on 2016-05-17 13:49:52 Reply Private Reply