Friday, October 28, 2016

Ron Johnson Invests In Irish Company That Resembles A Tax Shelter

GOP Senator Invests In Irish Company That Resembles A Tax Shelter
While it may be perfectly legal, Ron Johnson’s stake in the multimillion-dollar firm with one employee sure seems odd.

Sen. Ron Johnson (R-Wis.), who has defended corporate tax dodging throughout his Senate career, owns part of an Irish company that bears some of the hallmarks of a tax avoidance scheme. 
Johnson has a 9.9 percent stake in DP Lenticular, a Dublin-based company, according to his Senate financial disclosure for 2015. His investment is worth between $250,001 and $500,000 and he earned $5,001 to $15,000 in dividend income from the company that year, the disclosure indicates. 
The 9.9 percent stake is just below a cutoff that requires private citizens to disclose their ownership. Americans who own 10 percent or more of a foreign business must report it to the federal government. Now that Johnson is a member of Congress, he has to report all of his assets.

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