Treasury secretary nominee blames the U.S
tax system for millionaires using offshore tax havens
Apparently U.S. tax law left him no choice but to avoid paying taxes.
After watching what’s been coming out of the confirmation hearings from the past few weeks, I am convinced we’re all in a weird alternate universe (I guess once an unapologetic becomes president, anything goes). During today’s confirmation hearing for Treasury secretary nominee Steven Mnuchin, the billionaire was asked about the tons of money he apparently “forgot” to disclose the first time around.
When the initial omission of his Cayman Islands investment fund came up, he defended the existence of this tax haven. His excuse? The American tax system makes rich folks like him do it. BuzzFeed reports:[Steven Mnuchin] insisted that he had not personally avoided any U.S. taxes through the offshore fund, which was set up on behalf of other investors.
When asked if he would support closing tax loopholes that make offshore tax havens so lucrative, Mnuchin said: “I would support changing the tax laws to make sure they are simpler and more effective.”
Jeez. What a roundabout way to say “no.”
I was taught I have to take responsibility for my actions. How is saying “America made us do it” an acceptable response? No one is forcing millionaires and billionaires to break the law and avoid paying taxes. The problem isn’t IRS regulations. The problem is the greed and privilege of people like Mr. Mnuchin.
If you’re as pissed as I am about all of this nonsense, watch this clip of him getting grilled by Sen. Claire McCaskill (D-MO). Enjoy:
Alliance Tax Advocate . Free Tax Consultation. Call Us Now 1.888.315.8269 #help #crookedhillary #clinton #jillnothill #gop #whereshillary #edtech #economy #ohio #nevertrump #strongertogether #trump2016 #maga #thursdaythoughts #trump #uniteblue #entrepreneur #tax #Taxes #IRS #pjnet #tcot #college #taxreturn #taxrefund #personalfinance #money