DeVos dodged taxes on her $40 million yacht. Here are the other ways she’s avoided paying her share.

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I thought this broad was merely STUPID, not a crook like virtually everybody else in Dump's orbit. "All the best people(at stealing)."

https://thinkprogress.org/devos-dodged-taxes-yacht-avoided-paying-share-55ddffcfebdd/
[h=1]DeVos dodged taxes on her $40 million yacht. Here are the other ways she’s avoided paying her share.[/h] thinkprogress.org Fri, Aug 10 10:41 AM PDT

Secretary of Education Betsy DeVos came under fire this week after reports suggested she has avoided paying taxes on the $40 million yacht she registered in the Cayman Islands. Although the vessel was moored in northern Ohio, where someone recently untied it, the DeVos family has reportedly managed to dodge paying more than $2 million in taxes — money that would have funded a number of public services, including the education system DeVos has devoted herself to dismantling.
This isn’t the first time DeVos has tried to avoid paying her fair share.
In 2016, the Detroit News reported that DeVos was among a number of vacation home and rental property owners that took advantage of Michigan’s 100 percent principal residence tax exemption, which saves property owners from paying local school district taxes. In 2005, the state instituted annual audits to determine whether people receiving the exemption actually resided on the property as a primary residence. The state partially denied the exemption for the $7.8 million DeVos compound featuring a tennis club and convention center, finding that the property was used for another purpose, such as business or rental.
In 2003, DeVos founded the national All Children Matter Political Action Committee (ACM), based in Virginia, to help candidates who support school vouchers. In 2008, the Ohio Elections Commission determined that the national ACM office in Virginia improperly sent funds to the Ohio-based affiliate in violation of Ohio election laws. The Commission instituted a $2.6 million fine against each office involved: the national ACM in Virginia and the Ohio affiliate. Despite ACM’s attempts to challenge the Commission’s decision, the Ohio Court of Appeals upheld the decision and the Ohio Supreme Court refused to hear the case.
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As director for ACM, DeVos paid for the cost of litigation, but the overall $5.3 million fine was never paid. ACM essentially dissolved with minimal assets and was unable to pay the fine due to insolvency. Although DeVos was not explicitly named in the lawsuit and therefore is not technically responsible for paying the fines out-of-pocket, the PAC was under her leadership when it incurred the fines.


[h=3]DeVos proposes rule to make it harder for defrauded students to get their loans forgiven[/h]

Given her background of using loopholes and technicalities to avoid making necessary payments, it should come as no surprise that DeVos is a proponent of tax credit scholarships. These scholarships provide two ways to reduce taxable income.
The first is on state taxes. States can allow individual or corporate donations to organizations that provide scholarships for private school tuition to claim an exemption on state taxes for all or some of the donated amount. The second is on federal taxes. Because these scholarship programs are non-profit organizations, they can receive tax-deductible donations. Thus, these donors can also claim a deduction for the same donation on federal taxes, essentially being reimbursed twice for their donations. The programs are essentially a loophole, to get the state to pay for a portion of the cost of private schools, but not directly funding them.
DeVos’ tax-dodging is all the more concerning when coupled with her work as Education Secretary, in which she has deprived the public of revenue for critical education services. She has supported rescinding protections for student loan borrowers who were defrauded by for-profit colleges. She has sought to expand funding for voucher programs, which funnel money away from public schools and into private schools that are often not required to abide by civil rights protections and that fail to address the needs of vulnerable student populations. In this vein, she proposed sweeping cuts to the Department of Education budget that included elimination of funding for after-school programs for students who need it the most.
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DeVos’ reluctance to pay her taxes and her commitment to slashing public education funding make for a dangerous combination — one that keeps her wealthy, while students and teachers suffer.
 
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How much taxes do you pay Dafinch?.....Oh yeah according to a lot of posts youre just another leech...
 

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Quick question... Whats your share that you pay in taxes?
 

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Hilarious how you schmucks are ignoring the Sperm Whale in the room:

https://www.wonkette.com/betsy-devos-yacht

Let's Grab Some Cristal And Take A Cruise On Betsy DeVos's Luxury Tax-Dodge!


Stephen Robinson

August 09, 2018 10:35 AM



Last month, some American heroes class-warfarin' hooligans untied a $40 million, 163-foot yacht owned by the family of Education Secretary Betsy DeVos, setting it adrift like suburban college graduates during that period after they've completed their undergrad in art history but before they give up and go to law school. SeaQuest -- when you're a $40 million yacht, you get to share a name with a 1990s TV show -- was eventually reunited with the 10 other members of the DeVos yacht family but not before suffering an estimated $10,000 in physical damages along with untold emotional trauma from possible exposure to poor people.
Charlotte Clymer, press secretary at the Human Rights Campaign and professional yacht hater (I kid, she's a nice lady), mentioned in a tweetstorm on the subject that annual upkeep on a yacht is roughly 10 percent of initial purchase price. If you're so bad at math that you don't even have two yachts, this just means it costs roughly $4 million a year to keep SeaQuest in the manner to which it's become accustomed. That's a little more than $75,000 a week, so although some conservatives claimed the vandals inflicted undue financial hardship on DeVos, $10,000 is really just cigar-lighting money for the billionaire.
This isn't to say that the DeVoses aren't frugal. David Sirota revealed in a Newsweek article published Tuesday that the family took the precaution of having the yacht registered in the Cayman Islands. It was even flying the British territory's flag. Look, the yacht's named "SeaQuest" not "America First," and I'm sure everyone on board stood when in the flag's presence.
When buying a vessel or cruising in U.S. waters, American yacht owners like the DeVos family could face state sales or use taxes like those most nonyacht owners face on everything else. However, registering a yacht in a locale like the Caymans—under what has come to be known as a "flag of convenience"—allows those American yacht owners to effectively characterize themselves as foreigners for tax purposes, thereby avoiding the obligation of paying the standard levies.

"If you want to come in and use the waters of a given state of the United States, the question is how can you insulate yourself from getting hit for the use tax?" maritime attorney Michael T. Moore told Capital & Main. "The answer is: close and register offshore. If you close and register offshore, you aren't subject to either a sales or a use tax. You are simply visiting the United States, and you are visiting under a privilege that is granted to certain countries in the world under what is called a cruising permit. Those countries grant the privilege to U.S. flagged vessels, and the United States offers that reciprocal right to vessels flagged by those countries. In practice, it means the permit allows you to go from port to port in different states without having to officially make entry and pay taxes to the states of the ports you visit."​
Seems legit. I suppose if they didn't "insulate" themselves from taxes, the DeVos family might have to cut back to just nine yachts. It'd be like Sophie's Choice but with more yachts. Michigan's crazy liberal use tax is 6 percent, which would cost the DeVoses $2.4 million just for SeaQuest. The family is worth $5.2 billion, a fortune earned from their reputable Amway pyramid scheme. Why should they waste any of that helping to fund the local police that were called in when SeaQuest was vandalized? There are also other benefits to waving the foreign flag high.
"If you have a U.S. flag vessel, you fall under U.S. law in crewing it," [Miami maritime lawyer David Neblett] told Grand Cayman Magazine in 2015. "You have to have workers compensation insurance for each of them. There's a big savings to hiring your crew outside the U.S....tax benefits, privacy, liability, crewing requirements, all these are good reasons for our high-net-worth clients to register offshore."

The Cayman Islands in particular is well positioned to take advantage of these loopholes. A 2008 Government Accountability Office report found that wealthy Americans "can minimize their U.S. tax obligations by using Cayman Islands entities to defer U.S. taxes on foreign income" and also warned that some conduct "financial activity in the Cayman Islands in an attempt to avoid discovery and prosecution of illegal activity by the United States."​
Good grief, they really don't care, do they? If the DeVos family could register SeaQuest under the Confederate flag, you know my kinfolk would be swabbing the deck. DeVos has headed the Department of Education for almost two excruciating years. She could at least put a four-year (please God, just let it be that) pause on tax dodging and hiring non-American labor. I guess this is only a political-career-ending scandal in a Jeb! administration. When Donald Trump's in the White House, everyone just shrugs.
The DeVoses are relatively "new money," which somewhat explains their conspicuous consumption (10 yachts, 12 private jets, four helicopters, one KITT) and craptastic taste. Kate Wagner at Vox took apart Devos's 22,000-square-foot "Great Gatsby" theme-park summer mansion in Michigan, which would look better if literally taken apart. I'm sure we'll soon learn that the house was built on land that's technically a Cayman Island.

Billionaire Betsy has never worked as an educator, and her billionaire brain is possibly immune to actual education -- recent interviews reveal she's gotten dumber since her confirmation. Education itself is a field where employees regularly struggle with the "leave a penny/take a penny" dilemma, but their current leader "summers" someplace that while garish and tacky could probably contain a few public schools during the off-season.
Will she ever stop trolling us?
 

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How much is your share that you pay?
 

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You're 68 years old

Act like it
 

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You're 68 years old

Act like it

...says the welching retard with 91,000 worthless posts from Mommy's basement. Isn't it about time to post 10 pictures of the same person in one thread, with no comment?face)(*^%Slapping-silly90)):hammerit:>(kth)(&^cockingasnook()azzkick(&^
 

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How much do you pay in taxes FagHolio?
 

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I give you 2 examples of why people who live in glass houses....

ctpkerryyacht.jpg
th
 

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68 years old

Unbelievable
 

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Totally. Pathetic and sad at the same time

Lol, ALL of you jagoffs are wrong about my age, not that it matters, but YOU Stevie Ray-cist, are wrong about a LOT more, to wit:



quote_icon.png
Originally Posted by StevieRay

Another abandoned thread. Amazing the retardness


RTFLMAO!!!!! ANUTTA "gem" from the drunken, ignorant racist who has trouble figuring out the difference between "your" and "you're(as does his butt buddy, Gas Bag)," trying to call somebody a retard with a non-existent word...PRICELESS.

https://www.merriam-webster.com/dictionary/retardness

retardness" The word you've entered isn't in the dictionary. Click on a spelling suggestion below or try again using the search bar above.

















^^:)kth)(&^cockingasnook()Slapping-silly90)):bigfingerazzkick(&^:madasshol:trx-smly0:fckmad::Countdown.^^:)kth)(&^cockingasnook()Slapping-silly90)):bigfingerazzkick(&^:madasshol:trx-smly0:fckmad::Countdown.^^:)kth)(&^cockingasnook()Slapping-silly90)):bigfingerazzkick(&^:madasshol:trx-smly0:fckmad:
 

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