Apr 28th, 2016: Delaware Home

[xoxoxoBruce]

Look at this Delaware home, Isn't it lovely? Looks are deceptive because it's a really big home.
Big home to some who belong in the Big House.

This squat, yellow brick office building just north of Wilmington’s rundown downtown is the registered address
of more than 285,000 companies. That’s more than any other known address in the world, and 15 times more
than the 18,000 registered in Ugland House, a five-storey building in the Cayman Islands that Barack Obama
called “either the biggest building in the world, or the biggest tax scam on record”.

Officially, 1209 North Orange is home to Apple, American Airlines, Coca-Cola, Walmart and dozens of other
companies in the Fortune 500 list of America’s biggest companies. Being registered in Delaware lets companies
take advantage of strict corporate secrecy rules, business-friendly courts and the “Delaware loophole”,
which can allow companies to legally shift earnings from other states to Delaware, where they are not taxed
on non-physical incomes generated outside of the state.
The loophole is said to have cost other states more than $9bn in lost taxes over the past decade and led to
Delaware to be described as “one of the world’s biggest havens for tax avoidance and evasion”.

1209 North Orange isn't just home to big bad companies.

Just eight days after stepping down as secretary of state in February 2013, Clinton registered ZFS Holdings
LLC at CTC’s offices. Bill Clinton set up WJC LLC, a vehicle to collect his consultation fees, at the same
address in 2008. A spokesman for Clinton said: “ZFS was set up when Secretary Clinton left the State
Department as an entity to manage her book and speaking income. No federal, state, or local taxes were
saved by the Clintons as a result of this structure.”

Damned crooked Democrats, right? Umm, hold on there Republicans...

Of the 515 companies on Trump’s official Federal Election Commission (FEC) filing, 378 are registered in Delaware,
he revealed, after being questioned by the Guardian about why so many of his New York-based companies are
incorporated in Delaware. He said he asked his staff to find out how many entities he has in Delaware. “I figured
they’d maybe say two or three, right?” Trump said at a rally in Harrington, Delaware, on Friday. “We have 378
entities registered in the state of Delaware, meaning I pay you a lot of money, folks. I don’t feel at all guilty, OK?”

There you have it, history is made, finally an honest answer from a politician.
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