Claire McCaskill really steps in it this time

Wednesday, March 4th at 12:54PM EST

7 Comments

Just when we thought it couldn’t get any worse, Missouri Senator Claire McCaskill has reached the highest levels of tax-avoidance hypocrisy.

Let me explain.

This week, Carl Levin introduced a bill, supported by the Obama Administration, to crack down on offshore tax havens, including those in Switzerland, the Cayman Islands, and Bermuda.

One of the bill’s co-sponsors is Claire McCaskill.

Which is funny—given that McCaskill has disclosed partial ownership of a company called Rural Reinsurance Company International, Ltd, based in Hamilton, Bermuda. According to her most recent personal financial disclosure, the asset is valued between $500,001 and $1,000,000.

This arrangement has drawn the attention of ethics watchdogs and the Kansas City Star (subscription required), which published an article that included McCaskill’s tacit admission that her Bermuda-based company was, in fact, a tax shelter:

Furthermore, one of [McCaskill’s husband Joseph] Shepard’s interests–a Bermuda-based reinsurance company–shares attributes with a tax shelter the IRS wants Congress to rein in.

[snip]

Some experts say that if a reinsurance firm does not have employees or offices and does not market its services, its purposes are suspect.

It’s all about avoiding taxes, said Robert McIntyre, director of Citizens for Tax Justice, a Washington watchdog group. “That’s the whole point of them. I’ve heard so many excuses for doing it. But why is it in Bermuda? There’s only one reason. Because of taxes.”

“There is absolutely no tax sheltering that is occurring that is not part of a tax code that Senator Talent embraces,” McCaskill said Monday night at a debate in Springfield.

But if the Senate does take up legislation aimed at curtailing such shelters, McCaskill would be in a position to help decide whether one of her husband’s major investments could survive.

After the embarrassing revelations that so many Obama cabinet appointees “forgot” to pay their taxes, it seems that at least one Democrat has intentionally avoided paying hers. We have a frontrunner in the Democrats’ race to the bottom.

7 Comments Leave a comment

All really -- interesting --

Steve W (Diary) Wednesday, March 4th at 2:39PM EST (link)

especially since last week I received a reply from her regarding my feelings re: Daschle’s nomination – I’ve added emphasis. . .

Dear Mr. Watts:

Thank you for contacting me regarding the nomination of former Senator Tom Daschle. I appreciate having your comments and welcome the opportunity to respond.

Congress and President Obama’s Department of Health and Human Services cabinet appointee will play a critical role in finding solutions to the spectrum of health care challenges that we face.

In January, President Obama formally nominated Senator Daschle to be Secretary of Health and Human Services. With over 30 years of public policy experience, health reform expertise, and as a former Senate majority leader, he was very qualified for the job. However, I understand that many Missourians had concerns about Senator Daschle’s failure to properly pay his taxes. This was a serious mistake. As every citizen knows, paying taxes is a legal and civic duty, and failue to pay taxes should never be taken lightly.

Although his tax issues have since been corrected, Senator Daschle withdrew his nomination for the Cabinet position in an effort to avoid being a distraction to the new Administration in a time of crisis, and I supported this decision.

Please be assured I will keep your views in mind when considering the confirmation of other appointees going forward.

All best,
Senator Claire McCaskill

So, I have to assume that Sen. McCaskill’s use of tax shelters have been done ONLY after serious and “heavy” consideration.

The ultimate determinant in the struggle now going on for the world will not be bombs and rockets but a test of wills and ideas-a trial of spiritual resolve: the values we hold, the beliefs we cherish and the ideals to which we are dedicated.
- Ronald Reagan

Another classic...

Jonathon (Diary) Wednesday, March 4th at 2:55PM EST (link)

McCaskill on MSNBC not too long ago. Check out the 5:45 mark.

Double busted - in print and video ; )

Elizabeth Christian (Diary) Thursday, March 5th at 1:32AM EST (link)

n/t

Any society that would give up a little liberty to gain a little security will deserve neither and lose both.
~Benjamin Franklin

Uh, it seems to me that

USNJIMRET (Diary) Wednesday, March 4th at 3:31PM EST (link)

“Some experts say that if a reinsurance firm does not have employees or offices and does not market its services, its purposes are suspect.”
Is a little shy of reality.
ANY firm that does not have employees or offices and does not market it’s services, AND exists exclusively off shore, is suspect.
But that’s just MY point of view.

She is on Twitter

Jonah Shumate (Diary) Wednesday, March 4th at 6:15PM EST (link)

People should ask her via Twitter about this….. See what she says, for everyone to see!!!

I think it's becoming obvious that demcrats as a group don't pay taxes.

johnCV (Diary) Wednesday, March 4th at 6:41PM EST (link)

No wonder they are always trying to raise them – not enough people are paying.

Thanks for exposing this twit ... we need to keep on her...

JLenardDetroit (Diary) Thursday, March 5th at 1:50AM EST (link)

She is a Left wing HACK that tries to masquerade as a “Conservative” or “Moderate” while parading around the MidWest in order to LIE her way to Election…. Kinda the same way Obama LIED about Tax Cuts and anything/everything else to cover his Radicalism…. So sad MO peeps fell for it, as they did Obama (at least it was close on that one, so there is some chance for REAL HOPE in upcoming Elections they’ll wake-up and pull back)…

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