Wednesday, April 27, 2016

SecState Kerry and his wife have millions invested in offshore tax haven hedge funds - Thomas Lifson

by Thomas Lifson

But he is a champion of the little guy.  Just like all the Democrats.

Bernie Sanders loves to denounce the tax dodges of the wealthy (even as he pays 13.4% income tax on a $200K+ income), so it would be interesting to hear what he has to say about John Kerry, the current secretary of state and former Democratic Party nominee for president.  An analysis of public documents by the Daily Caller News Foundation indicates that Kerry and his wife liberally use offshore tax havens.  Richard Pollock writes:
… a DCNF investigation has confirmed that the former Massachusetts Democratic senator and his billionaire wife, using an elaborate set of Heinz family trusts, have invested “more than $1 million” each into 11 separate offshore accounts — mainly hedge funds in the Cayman Islands.
The investments were made during both Kerry’s tenure in the Senate and in his present position as the nation’s chief diplomat.
The trusts funneled millions of dollars over the years into various offshore investment vehicles through a Heinz trust called the “Heinz Family Commingled Alternative Investment Fund.”
The hypocrisy is as pointed as any Republican family values figure caught with a mistress, though of course the media have no interest in pointing it out.  And Kerry’s spokesman naturally makes excuses:
State Department Spokesman Adm. John Kirby told TheDCNF Kerry is not a beneficiary of the investments and does not own them.
“Secretary Kerry has no offshore investments. He is not, nor has he ever been a beneficiary of Heinz Family and Marital Trusts and he has no decision-making power over them since they are entirely controlled by independent trustees,” said Kirby.
Heinz is a beneficiary, Kirby said, but he emphasized that the investments “are entirely controlled by independent trustees.” He declined to say who controls the trust and makes investment decisions.
Kerry comes by his vast fortune by marriage.  In fact, he has the rare distinction of having married two heiresses in sequence.  Quite a coincidence that his heart is drawn exclusively to women who have inherited hundreds of millions of dollars of unearned income.

But he is a champion of the little guy.  Just like all the Democrats.

Hat tip: Clarice Feldman

Thomas Lifson


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