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Clinton Has Ties To Offshore Tax Havens

- December 18, 2015

Clinton Has Unveiled A Proposal To Discourage Corporate Inversions. " Hillary Clinton on Wednesday will unveil a proposal for a new 'exit tax' aimed at cracking down on corporate inversions, a practice that permits U.S. companies to merge with corporations overseas to lower their tax bill. The new tax would be part of a broader effort to target what experts say is roughly $2 trillion in profits U.S. companies are hoarding abroad to reduce their taxes. The Democratic presidential front-runner will propose spending the revenue raised by the new tax to boost manufacturing jobs in the U.S., campaign aides said." (Lisa Lerer, "Clinton Offers New 'Exit Tax' On US-Foreign Company Mergers," The Associated Press, 12/7/15)

The Clintons Have Defended Inversions And Profited From Offshore Tax Havens

In 2014, Bill Clinton "Expressed Sympathy" For Companies Using Inversion Transactions And Said "Like It Or Not, This Inversion, This Is Their Money." "As many Democrats attack companies that take advantage of corporate tax inversions, former President Bill Clinton expressed sympathy for them. 'Like it or not, this inversion, this is their money,' Mr. Clinton said in an interview during the Clinton Global Initiative in New York." (Amy Chozick, "Bill Clinton On Inversions: 'This Is Their Money,'" The New York Times, 9/23/14)

  • Bill Clinton Further Defended Corporate Tax Inversions Offering That Companies "Feel Duty Bound To Pay The Lowest Taxes They Can Pay." "When asked whether inversions - the practice of American companies acquiring a small overseas rival and reincorporating abroad to lower their tax bills - are unpatriotic, as many critics say, Mr. Clinton said that publicly traded companies, in particular, 'feel duty bound to pay the lowest taxes they can pay.'" (Amy Chozick, "Bill Clinton On Inversions: 'This Is Their Money,'" The New York Times, 9/23/14)

Bill Clinton's Support For Inversion Transactions Has Been Viewed As "Dinging" The Obama Administration's Efforts To Combat The Corporate Strategy. "During an interview with CNBC on Tuesday, former President Bill Clinton called to cut corporate taxes and give companies a break on money stashed overseas, dinging President Barack Obama's latest effort to combat corporate tax-dodging." (Zach Carter, "Obama Will Probably Be Annoyed With Bill Clinton's Latest Corporate Tax Proposal," Huffington Post, 9/24/15)

The Populist Wing Of The Democrat Party Took Bill Clinton's Comments "As Evidence That Hillary Clinton Will Pursue A Conservative, Corporate-Friendly Economic Policy Agenda." "Bill Clinton's words, fairly or not, are closely associated with a potential presidential run from his wife, former Secretary of State Hillary Clinton. The burgeoning populist wing of the Democratic Party will see his comments as evidence that Hillary Clinton will pursue a conservative, corporate-friendly economic policy agenda." (Zach Carter, "Obama Will Probably Be Annoyed With Bill Clinton's Latest Corporate Tax Proposal,"Huffington Post, 9/24/15)

Not Only Did Bill Clinton Defend Inversions, The Clinton Family Had A Financial Stake In Three Companies Headquartered In the Cayman Islands Operated By Their Long Time Friend Ron Burkle

In 2007, SEC Documents Revealed That The Clinton's Had A Financial Stake In Three Of Ron Burkle's Investment Companies Registered In The Cayman Islands. " Securities and Exchange Commission documents and financial-disclosure forms filed by Hillary Clinton show that Bill Clinton, 61, has a financial stake in three investment entities registered in the Cayman Islands by Burkle's Yucaipa Cos. LLC." (Timothy Burger And Ryan Donmoyer, "Clinton's Burkle Ties Include Funds In Cayman Islands," Bloomberg, 12/17/07)

  • From 2002 To 2009, Bill Clinton Served As Senior Adviser For One Of The Companies, Yucaipa. "When billionaire Ronald Burkle's Yucaipa investment operation agreed to put more than $25 million into a Chinese media company this fall, the investor group didn't include on of Yucaipa's high-profile partners: former President Bill Clinton … Mr. Clinton has been a senior adviser at Yucaipa and also had a financial interest in certain investment there." (John Emshwiller, "How Politics Affect Yucaipa," The Wall Street Journal, 12/15/07)

The Clintons Have Long Had Controversial Ties To Burkle

Ron Burkle Is A California Billionaire And Clinton's "Buddy." "Also in attendance was Ron Burkle, the California supermarket billionaire and investor who is Clinton's bachelor buddy, fund-raiser, and business partner." (Todd S. Purdman, "The Comeback Id," Vanity Fair , 7/08)

  • Burkle And Bill Clinton "Met During Clinton's 1992 Campaign." "They met during Clinton's 1992 campaign, after the Los Angeles riots, and Burkle's union-friendly stance and the support for a range of Democratic causes quickly endeared him to Clinton." (Todd S. Purdman, "The Comeback Id," Vanity Fair, 7/08)

Burkle Has Been Part Of Clinton's Network of Rich, Charitable, Political And Business Supporters. "Burkle is perhaps the single best example of the self- reinforcing network of rich personal, charitable, political, and business supporters Clinton has built since his white house years." (Todd S. Purdman, "The Comeback Id," Vanity Fair, 7/08)

  • "No Former President Of The United States Has Ever Traveled With Such A Fast Crowd…" "No former president of the United States has ever traveled with such a fast crowd, and most 61-year-old American men of Clinton's generation don't, either. 'I just think those guys are radioactive,' one former aide to Clinton who is still in occasional affectionate touch with him told me recently, referring to Burkle and (to a lesser extent) Bing. 'I stay far away from them." (Todd S. Purdman, "The Comeback Id," Vanity Fair, 7/08)

Burkle Hosted Fundraisers At His Estate In Beverly Hills And Raising "Millions Of Dollars For Hillary Clinton's Campaigns." "For Clinton's re-election campaign Burkle held regular fund-raisers at Green Acres, his sprawling estate in Beverly Hills, which once belonged to the silent-film star Harold Lloyd, and Burkle has also raised millions of dollars for Hillary Clinton's campaigns." (Todd S. Purdman, "The Comeback Id," Vanity Fair, 7/08)

The Clinton's Son In Law, Marc Mezvinksy, Started Up His Own Cayman Island Hedge Funds

The Hedge Fund, Eaglevale Partners LP, Was Founded By Chelsea Clinton's Husband Marc Mezvinksy. "The hedge fund co-founded by Bill and Hillary Clinton's son-in-law suffered losses tied to an ill-timed bet on Greece's economic recovery, according to documents reviewed by The Wall Street Journal. Eaglevale Partners LP, founded by Marc Mezvinsky and two former colleagues from Goldman Sachs Group Inc., told investors in a letter sent last week they had been 'incorrect' on Greece, helping produce losses for the firm's main fund during two of the past three years, according to the letter. Mr. Mezvinsky married Chelsea Clinton, the former first daughter, in 2010." (Rob Copeland, "Hedge Fund Co-Founded By Chelsea Clinton's Husband Suffers Losses Tied To Greece," The Wall Street Journal , 2/3/15)

Mezvinsky's New York Eaglevale Partners Have Two Outlets In The Cayman Islands, Where There Is Zero Percent Tax Rate On Capital Gains. "Mezvinsky and his pals have two outlets in the Caymans linked to their New York Eaglevale Partners. The Caymans have a zero percent tax rate on capital gains, an issue that prompted Democrats to attack 2012 GOP nominee Mitt Romney since he had investments in the tax haven." (Paul Bedard, "Hillary Proposed Mother-In-Law Tax On Cayman Fund Run By Chelsea's Hubby," The Washington Examiner , 1/12/16)

According To SEC Filings, Eaglevale Partners Has An Offshore Fund In The Cayman Islands Established in 2011 Called "Eaglevale Partners Offshore Fund Ltd." (Securities And Exchange Commission, Form D, File No. 021-177047, Accessed 12/9/15)


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