The release of the so-called Panama Papers has received scant attention. But once again, attention is focused on tax havens for the very rich. Why does this little tidbit matter? Because attention on this shows the arrogance of the Clintons. As late as 2013, when Clinton knew she was running for President she and hubby set up shell corporations for tax breaks. She was willing to risk all and ride the third rail, for a buck. Hubris. Or what? As late as last Wednesday she was railing against tax breaks for the rich. What does make the Clinton tick? Here tis-
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, theNew York Times, the Telegraph, and advocates for corporate tax reform.
Hillary and Bill Clinton quietly set up two shell companies listed at “1209 North Orange Street” in the State of Delaware 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.
The “1209 North Orange Street” building is the headquarters for the Corporation Trust Company. The firm acts as a registered agent for thousands of corporations that are not actually located in Delaware, including the Clintons’ companies.
But the concerns over corporate secrecy and tax avoidance have trickled into the Democratic presidential race, with Sen. Bernie Sanders incorporating it into his stump speeches. Clinton has also railed against tax havens on the trail and vowed to take action.
“Some of you may have just heard about these disclosures about outrageous tax havens and loopholes that super-rich people across the world are exploiting in Panama and elsewhere,” said Clinton during a campaign event last Wednesday.
“Now some of this behavior is clearly against the law, and anyone who violates the law anywhere should be held accountable,” she added. “But it’s also scandalous how much is actually legal.”