Wednesday, November 8, 2017

Hidden Assets Surrounded by "Big Water"

Responding to allegations that some of his Cabinet members and advisors avoided paying their fair share of taxes by moving assets to secret offshore accounts, President Donald Trump echoed the language he used to defend his administration's hurricane relief efforts in Puerto Rico:  "Those assets are on islands surrounded by water, big water, ocean water.  At least I think so."  Pressed on why that should matter the President explained, "I'm not sure mail can be delivered to some of these places, so how can they pay taxes when they never get the bill?"  Being informed that most of these tax havens -- Bermuda, for example -- do receive mail did not seem to sway the President:  "Okay, let's say they got the bill.  Then they would have to ship all that money, which would probably cost more than the taxes they owed, it just doesn't make any sense."  Mr. Trump ignored followup questions on his dubious math or on why the money could not be wired.  He added:  "I think the American people are more concerned with Mexicans stealing American jobs than they are with some smart businessmen looking for banks that pay the best interest with free checking."

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