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Like a Virgin Island Resident [Lefty financier and congresswoman’s fiancée dodged U.S. taxes]
Weekly Standard ^ | 4:45 PM, Oct 15, 2010 | ALANA GOODMAN

Posted on 10/15/2010 10:16:10 PM PDT by fight_truth_decay

As far as liberal financiers go, you don’t get much more powerful than S. Donald Sussman

Since 1989, the hedge-fund billionaire has pumped millions into the coffers of Democratic politicians and their political pet projects. Sussman sits on the board of the Center for American Progress, the Democracy Alliance and the dovish Israel Policy Forum, and he’s been one of the top contributors to left-leaning 527 organizations during the 2010 election cycle.

But while Sussman has long kept a behind-the-scenes profile, a recent ethics controversy in Maine has flung him into the center of a complicated dispute over state residency, tax dodging and congressional ethics – the implications of which extend all the way from the rocky coast of southern Maine to the offshore tax haven of the U.S. Virgin Islands.

According to Sussman’s fiancée, Rep Chellie Pingree (D-ME), the philanthropist lives with her and has been a resident of Maine since 2009. But financial records and other documents indicate that Sussman has claimed full-time residency and extensive tax breaks in the U.S. Virgin Islands for years – and may be continuing to claim them.

Progressive organizations and Democratic leaders – including ones who have taken significant financial contributions from Sussman – have long vilified offshore tax havens, pointing to them as evidence of corporate greed gone wild. Rep. Pingree has been an outspoken critic of this type of tax evasion, and made it one of the cornerstones of her unsuccessful 2002 senate bid against Sen. Susan Collins (R-ME).

(Excerpt) Read more at weeklystandard.com ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events; US: Maine
KEYWORDS: chelliepingree; collins; commoncause; deanscontras; democrats; donaldsussman; media; offshorebanking; palomapartners; pingree; susancollins; taxshelters; usvirginislands; virginislands
Video

Earlier: October 14, 2010

PINGREE USES BILLIONAIRE'S LAWYERS TO SUPPRESS POLITICAL AD WCSH TV Pulls Maine GOP Ad After Sussman Threatens Legal Action

AUGUSTA - Portland, Maine NBC affiliate WCSH has decided to pull an ad critical of Congresswoman Chellie Pingree, after lawyers for Pingree's billionaire fiancé Donald Sussman threatened legal action against the channel.

In an email to WCSH station manager Steve Thaxton, Dana Lukens of the law firm Bernstein Shur threatened on behalf of Sussman "that Paloma Partners will exercise all legal remedies available to it to protect its good name and business reputation should WCSH run an advertisement to the effect that Paloma Partners received TARP funds"

Thaxton contacted the Maine GOP on Thursday, and offered to continue running the ad if the state party agreed to indemnify WCSH against legal action. WCSH asked that the Maine GOP agree to cover legal costs if Sussman sued the station. The Maine GOP declined, and WCSH pulled the ad from its rotation.

WCSH did not take issue with Pingree and Sussman's complaint that Sussman did not receive bailout funds. Thaxton indicated that there was sufficient factual backup to the GOP's claim about bailout funds.

WSJ story

Maine is overlooked in the national press unless popular pundits come down on Collins and Snowe--this Chellie Pingree story is finally reaching more national press.

Dean Scontras[R] who is a fairly newcomer and and name unknown outside the state is running against the very liberal incumbent Pingree--we need all the help we can get to get this Pingree/Sussman story out.

Pingree had not announced herself as Sussman's fiancée until recent questions arose over the use of Sussman's corporate jet to and from NY fund raisers (heavy donor money coming from outside of Maine) and on to the Hill to cast her vote was uncovered by MaineWatchdog. Up until recently their relationship was reported to the press by Chellie as a partner status; but quickly shifted to being recognized, after falling under closer ethics examination, as under a "family" status; since a fiancee [fiance'] relationship changes what is allowed under the rules of ethics (talked about only when an agenda finds it necessary, but "rarely enforced" - Pingree's own earlier admission). Pingree's spokesman finally surfaced after the discovery became local news and told the press Chellie and Sussman had just kept their marriage intentions secret since 2008 (one has to wonder why), but when after the video her reported use of Sussman's corporate jet came under scrutiny, the two decided to reveal their marriage intent.

The hypocrisy is that Pingree had spoken out on hedge fund owners and their tax havens, but then became engaged to a hedge fund billionaire who was reported as using the same tax shelters? The Left has even more recently brought attack against Meg Whitman under the same charges of using tax shelters.

Formerly, the President of Common Cause, a non-profit citizens’ lobbying group, Representative Chellie Pingree [D] had chastised any lawmakers who traveled on corporate jets.

Complete 2006 testimony of Pingree before Judiciary Subcommittee on the Constitution.

The Left is rabid over this attack of Pingree and Donald Sussman saying he resides in Maine (2010), but he was found by the maine watchdog group to be a resident of US Possession, St. John, The Virgin Islands.

Under a Federal "umbrella" the Virgin Islands has enacted economic incentive legislation that provides, among other tax benefits, a tax credit equal to 90 percent of the tax that would otherwise be due on income from the business for which benefits are granted. US taxpayers with foreign-source income may be able to use foreign corporations and trusts to defer realisation of income. [source]

Sussman has now called out his highly paid team of legal eagles to threaten suit as aforementioned above.

Chellie Pingree Candidate Call-in Tuesday, October 19 at 1:00 pm
Your Vote 2010 On The Line live candidate call-in on MPBN Radio.

1 posted on 10/15/2010 10:16:16 PM PDT by fight_truth_decay
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To: fight_truth_decay
Heck. If anything, this guy in fact might be AHEAD of the curve.

We may all have to consider doing this, if, the RINOs cave, and COMMUNISM AND TAX SLAVERY eventually comes to the USA.

2 posted on 10/15/2010 10:32:09 PM PDT by AmericanInTokyo (Worldwide Press Spin, Nov. 3rd? "America is RACIST(sic)". Take that to the bank. Ink already ready.)
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To: fight_truth_decay

Pay your fair share.

We need the money. :)


3 posted on 10/15/2010 10:34:25 PM PDT by Tzimisce (No thanks. We have enough government already. - The Tick)
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To: AmericanInTokyo
Under a Federal "umbrella" the Virgin Islands has enacted economic incentive legislation that provides, among other tax benefits, a tax credit equal to 90 percent of the tax that would otherwise be due on income from the business for which benefits are granted. US taxpayers with foreign-source income may be able to use foreign corporations and trusts to defer realization of income.

I have no problem with this.

4 posted on 10/15/2010 10:47:32 PM PDT by Tainan (Cogito, ergo conservatus)
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To: Tzimisce
When things go King George III on us, I have a problem with the word fair.
5 posted on 10/15/2010 10:49:19 PM PDT by AmericanInTokyo (Worldwide Press Spin, Nov. 3rd? "America is RACIST(sic)". Take that to the bank. Ink already ready.)
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To: Tainan

Pingree is preaching one thing, and doing the other..but is deeper than that if you know Donald Sussman. Barney Frank is a buddy as well.


6 posted on 10/15/2010 11:48:33 PM PDT by fight_truth_decay
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To: AmericanInTokyo
AHEAD of the curve?

If you read the residency requirements etc or tax shelters which has attracted many big hedge fund operators has been available ongoing..just the Left is so down on tax shelters, have gone after Meg Whitman for the very same, same island possessions.

The little guy has to pay or be penalized while their government leaders get to play by different rules and ..enticing business to said island mentioned and not to the home states where taxpayers suffer under rising taxes placed on them which has become business unfriendly.

Fair is for carnival rides only.

First is here..am sure you have deep devotion for most mentioned.

http://www.greenwichtime.com/local/article/Greenwich-hedgie-thrust-into-center-of-Maine-695581.php

7 posted on 10/16/2010 12:01:44 AM PDT by fight_truth_decay
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To: Tzimisce
I lived in the VI years ago. As I recall they used the US Tax Code, but kept 100% of the revenue. It was, and probably is, the epitome of “big” government. For the population the government was disproportionately large.

They also had a economic development program then, funded by the US, but I believe one had to produce a product and have employees to take part in it.

8 posted on 10/16/2010 5:50:13 AM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-Qaeda" and its allies.)
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To: fight_truth_decay

US Virgin Islands... does this guy have an Epstein /pedo island connection?


9 posted on 11/05/2020 5:16:56 AM PST by piasa (Attitude adjustments offered here free of charge.)
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To: fight_truth_decay

Big Money Lib buys 75% of Maine’s Major Newspapers
3/27/2012, 8:42:15 PM · by paul in cape · 11 replies
Maine Biz ^ | 3-27-12 | Maine Biz
Husband of Dem rep Chellie Pingree has purchased a 75% share in Maine’s Largest Newspapers.Sussman to get 75% stake in MaineToday Media A new restructuring plan finalized today between MaineToday Media and Maine billionaire Donald Sussman gives Sussman 75% ownership in the media company. In February, Sussman outlined a deal to become a 5% equity partner through a $3.3 million loan to MTM. But as the deal went through its due diligence, investors, including out-of-state pension funds, insisted on changes. Maine Values, Sussman’s company, is providing the same money, but as a straight stock purchase, resulting in a 75% ownership...


10 posted on 11/05/2020 5:17:49 AM PST by piasa (Attitude adjustments offered here free of charge.)
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