Clinton takes aim at Cayman on campaign trail
Hillary Clinton
(CNS Business): Democratic presidential hopeful Hillary Clinton has said that the US government must “go after” tax avoidance schemes that route “income through the Bahamas or the Cayman Islands”, even though she and her husband, Bill Clinton, have both received income from companies doing business here.
“We’re now in a position, I think, where we can go after some of these schemes that you did read about, the kind of misclassifying of income, trying to make it look like it’s a capital gain when it’s really ordinary income, going ahead and routing income through the Bahamas or the Cayman Islands or wherever,” Clinton told MSNBC’s Chris Hayes during an interview Monday.
Although rival candidate for the Democratic nomination, Bernie Sanders, has said he wants to do away with the ability of corporations to “stash their money in tax havens like the Cayman Islands and Bermuda”, this is the first time Clinton has spoken about the issue during the current campaign.
Before Hillary Clinton was appointed secretary of state and while she was still in the US Senate, Bill Clinton was a partner in an investment fund, Yucaipa Global Partnership, which is registered in the Cayman Islands. He also earned money in Cayman when he was paid $225,000 to speak at a dinner event here in March 2011 at the Ritz Carlton.
Category: Finance, Financial Services
In an age of global FATCA and CRS compliance, the volumes of tax code at issue REMAIN a USA product. Congressional Tax Statutes alone spread over two volumes, a combined 2,652 pages with approx 450 words per page. US State Statutes and Regulations are an additional 9,000 pages, with tax code changing 4,680 times between 2001 and 2012, an average of once per day. CCH Caselaw is a further 70,000 pages at least. What they (or anyone else) propose to “go after” is 100% made in the USA.
Well put Anonymous 5:03 PM, and just to compliment your factual and calmly-stated points, I would throw in that I think we should be able to expect a Yale Law School Graduate to understand this all perfectly well.
She is also hopefully refusing to enjoy any of the the proceeds of fees received by her sleasebag husband following his speaking engagement in Cayman…..Bloody hypocrites.
9:33am Expect a Yale grad to understand? Geez HillLIARy couldn’t pass the bar exam remember? We had her IMPEACHED and womanizing horror of a husband here with everybody grinning and posing for pics with the sleaze at $1500,00 a plate! Clinton needs check her country…..a lil corner called DELAWARE and she wouldn’t have to poke that lying nose one inch further! BUT they all know that……..Its’s another way of spinning words to win votes! For the good of the whole world including am praying she loses her bid for POTUS…….
#Hillary for Prison 2016
Naturally they always forget to mention Delaware who doesn’t even come close to Cayman’s robust regulatory regime! Typical liberal democrat crap! No more lying Hillary or her pervert husband in the White House!