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Cleverest Ways of Exploiting Offshore Tax Havens
Nov 8, 2017
https://democracynow.org - Examining the Paradise Papers, The Guardian reports seven Republican super-donors mentioned in the papers stored some of their fortunes offshore, beyond the reach of public scrutiny and tax authorities. Together, the billionaires pumped more than $350 million into the 2016 election. Some are well-known backers of conservative causes, like casino magnate Sheldon Adelson and Charles and David Koch. Another investigation focuses on Democratic donor James Simons, who spent $11 million to back Hillary Clinton’s 2016 presidential campaign. Simons is the founder of Renaissance Technologies, the world’s most profitable hedge fund. Leaked records show he kept much of his $8 billion fortune in an offshore private wealth fund in Bermuda in order to avoid “particularly severe” taxes that would be triggered if he tried to bring the funds onshore. We speak with Jon Swaine, senior reporter for The Guardian.