It’s that time of year again – tax season.
Is Republican Meg Whitman finally going to pay her fair share?
For years, the Billionaire has stashed millions of dollars in offshore hedge funds, in tax havens in Bermuda and the Cayman Islands.
More from California Accountability:
Whitman's own IRS filings show her charitable foundation sent millions offshore, to the Cayman Islands and Bermuda, notorious havens for tax dodgers who don't want to pay the taxes they owe the state and nation.
In 2007, Meg Whitman’s charitable foundation sent several million dollars offshore, to Hedge Funds based in Bermuda and the Cayman Islands.
“The Griffith R. Harsh IV and Margaret C. Whitman Charitable Foundation in 2007…also invested $3 million in hedge funds based in the Cayman Islands — a Caribbean tax haven that's been the subject of political controversy…. ‘When you're a billionaire, you will do things with money that don't look so good when you're a political candidate,’ said John Pitney, a government and politics professor at Claremont McKenna College. ‘Even if they're totally ethical and lawful, they can still be embarrassing.’’ [Mercury News, 11/18/09]
“The foundation's tax returns also show $3 million invested in Cayman Island hedge funds and $1 million in another fund in Ireland. ‘If I were her investment adviser, I would have told her to avoid the offshore investment until she had figured out her political future,’ said Morris, the accountant….The Caymans have been a target of politicians in recent years. U.S. Sen. Carl Levin, D-Mich., and Rep. Lloyd Doggett, D-Texas, recently introduced legislation seeking to rein in tax shelters in places such as the Caymans.”– [Mercury News, 11/6/09]
The filings can be found at:
http://dynamodata.fdncenter.org/990pf_pdf_archive/208/208033091/208033091_200712_990PF.pdf
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