Offshore: Obama/Democrat suppported company uses tax shelter
Posted: Mon Apr 29, 2013 9:54 pm
Not only that, but they are supporting profits that go to Chinese instead of the Americans:
Don't the American people deserve to know when Democrats are shelter money somewhere and "not paying taxes that they owe"? Besides the ridiculous notion that Romney somehow owed taxes on this money, can you spell h-y-p-o-c-r-i-t-e-s? If Romney owed taxes and was not paying them, then so are these Democrats.
The parent company of a “green” car venture with ties to the Obama administration and Democratic Party leader Terry McAuliffe is incorporated in the tax shelter country of the British Virgin Islands, Watchdog has learned.
Yet just nine months ago McAuliffe, former Democratic National Committee chairman and part owner of GreenTech Automotive Inc., blasted Mitt Romney over allegations the presidential candidate had an offshore bank account.
“You’re running for president,” McAuliffe told the Daily Caller. “People just don’t get that. I mean, why do you have an offshore bank account? So we’ve got a long way to go.”
Fledgling GreenTech was founded in 2009 by Chinese businessman Charles Wang, who owns Capital Wealth Holdings (CWH), an investment company incorporated in the British Virgin Islands.
According to court documents, GreenTech is a subsidary of CWH and McAuliffe obtained 25 percent of the stock. GreenTech’s headquarters were then incorporated in Virginia and its manufacturing plant was located in Mississippi. Next, it started recruiting outside investors – primarily from China – through a program called EB-5 that grants visas to foreign citizens in exchange for minimum $500,000 investments in U.S. companies.
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Either way, GreenTech apparently has the funds to pay for top talent. It has employed Obama aide Rick C. Wade as its Head of China Operations. Wade was assistant chief of staff at the U.S. Department of Commerce until he quit in 2011 to serve simultaneously as spokesman for Obama’s presidential campaign and work at GreenTech.
The green carmaker’s presidential connections don’t stop with Obama. Last year Bill Clinton attended the opening launch of its Mississippi car plant and his brother-in-law, Anthony Rodham, helps solicit EB-5 funds through Rodham’s company Gulf Coast Management. Both Gulf Coast and GreenTech share an office suite.
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Obama’s crusade against Romney didn’t stop with the British Virgin Islands – his lead campaign adviser Robert Gibbs questioned investments in Bermuda.
At one point GreenTech’s majority owner Charles Wang was also director of Compass Pacific Holdings, a Hong Kong company incorporated in – where else? Bermuda. One of Compass Pacific’s missions was to pursue a hybrid car project.
“It was reported that Mitt Romney has taken pretty extraordinary steps to hide the fact that he has a shell corporation in Bermuda,” Gibbs said during an MSNBC interview. “We’ve got to know why he has that money there. [color=#0000FF]The American people deserve to know if he’s sheltering this money somewhere or, quite frankly, is not paying the taxes that he owes[/color].”
http://watchdog.org/81836/mcauliffe-car-co-parent-in-off-shore-tax-shelter/
Don't the American people deserve to know when Democrats are shelter money somewhere and "not paying taxes that they owe"? Besides the ridiculous notion that Romney somehow owed taxes on this money, can you spell h-y-p-o-c-r-i-t-e-s? If Romney owed taxes and was not paying them, then so are these Democrats.