From 1010WINS:Bloomberg's money is invested through a blind trust that prevents him from knowing his specific holdings, but he signs the tax returns that clearly list the overseas funds.
"I don't have any control over where my investments go," Bloomberg said.
"And incidentally, as far as I know, the investments that my money managers make are perfectly legal, they're fully disclosed and they're appropriate to maximize the assets which I'm giving away to charities," he told reporters.
The practice is legal and not uncommon, but it could be considered to conflict with the spirit of Bloomberg's oft-repeated message that it is crucial to the financial health of New York City and the nation to keep companies and their economic activities in the United States, funding the tax base that pays for government services.
"We need more people here paying taxes and when they make money, they pay more taxes," he said this week.
From the Daily News:
Azi Paybarah from the Observer followed up by asking Bloomberg whether his investments in the Caymans -- a notorious tax shelter -- undercut his argument that the United States should have financial regulations consistent with the rest of the globe. Bloomberg's snarky response:
"I think last I checked, people in the Cayman Islands are very nice people. They have a lot of people from the Cayman Islands that live here. If you have any problems with people from the Cayman Islands, I think you might want to address it to them. But you seize a good example. Every diverse investment pool invests around the world. We live in a global world. The companies that we invest in do business around the world globally."
15 comments:
That is a well known tax haven there bloomie and Im sure being next door to your vacation getaway you know what goes on there and its not shuffle board. Paying dumb again little innocent mayor?
And yes bloomberg you do have control and know where your investments are which expalins some of the record amounts you have made the last few years pointed out from records and articles elsewhere while taking your Public Relations one dollar mayor pay.
Do people buy that line from you? What is this Leave it to beaver?
He is so full of shit! He knows exactly how much and where his money is!
I can't see a complete Control Freak like Bloomberg not know where his money of all things go. Tell it to a fool Bloomie we the "little people" are smarter than that. I guess now we could all open overseas charity accounts and not have to worry. Cause I get taxed on the money I give to charity when I have it, then I claim it. Funny how there are different rules for different people. Mr. Money Bags, you should be ashamed of yourself.
Just got to watch those offshore types, not matter how charming and glib they may be.
Always looking for an angle, always just outside the law, and leaving a trail of debris in their wake for the rest of us to clean up.
Only those who are stupid enough to worship money get seduced by them ... and pay the price.
Do as I say and not as I do. That's Mayor Moneybags's mantra. Can't we impeach this idiot?
It's a house of cards and Bloomturd's the joker!
The people in the Caymans are very nice, but if they reported my earnings to the IRS, they would not be quite as nice.
Do all of the Cayman Island bank books in my back pocket make my ass look fat?
Bloombucks? Now you've done it. By next year the official currency in NYC will be Bloombucks. If our asshole mayor could change the term limits law, he'll change federal regulations to make this so. His ego has no bounds.
There should be a special place in hell for this lying, cheating, thieving bum. And he gets no absolution for all his charitable donations. First of all, they're just a big tax dodge. Secondly, they're a lame attempt at getting him positive PR. Lastly, they certainly come with major strings attached to them.
Who does this creep answer to? Apparently nobody, especially not his constituents.
I can't wait for his term to be over. He is a bully and I am fed up with his pedestrian parks on the streets of Manhattan. Here is a man that wanted Congestion Pricing because of the major traffic in the city and now he proposes these idiotic ideas to make it worse.
Bloomberg who share a likeness to Tom Delay in your tax haven in the Cayman Islands.
The same people that benefit from these tax shelters provide tremendous benefits to the leadership of the House and the House Ways and Means Committee to block this. They don't have to dominate or control all members of Congress as long as they have a stopper in the House Ways and Means Committee. With Tom DeLay in the Republican leadership they can kill any tax shelter reform legislation and thats what's happened.
The House Ways and Means Committee is headed by Sander Levin. Tom Delay has been gone from the House since 2005.
If you're going to be a troll, at least get your facts straight.
Yes I know Delay is gone because he had criminal charges brought against him although its good not to forget that cause it has repercussions.
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