Daniel Goldman’s Charity Reports Investments in Major Tax Haven

Daniel Goldman's Charity Reports Investments in Major Tax Haven

(LibertySociety.com) – Freshman member of Congress and Levi Strauss heir, Representative Daniel Goldman, D-N.Y., reportedly has millions of dollars invested in off-shore bank accounts. According to Fox News, Rep. Goldman’s tax haven of choice is the Cayman Islands, where he has two separate investment accounts, one with over $6 million dollars and the other with over $26 million dollars. There are many advantages to holding money in offshore bank accounts. According to the Corporate Finance Institute, the Cayman Islands allows investors to avoid taxes on capital gains and corporate taxes, among others, and it offers the benefit of having no taxes withheld on foreign entities.

The accounts are for Goldman’s nonprofit organization, The Richard W. Goldman Family Foundation, held by BBR partners LLC, a United States firm. The foundation is named after Rep. Goldman’s late father and was founded by him and his two siblings. The purpose of the foundation is to help those who are disadvantaged, while also “promoting equality.” According to his financial disclosure in 2022 to the House of Representatives, Rep. Goldman is the secretary and treasurer of the organization. Rep. Goldman supports raising taxes on wealthy Americans, which he has been very vocal about since taking office in January 2023.

Representative Goldman recently said in a statement that “the wealthiest among us must help to provide more access for others to pursue the American dream,” adding that inequalities in wealth are at a record high. He is a cosponsor for the Billionaire Minimum Income Tax. He also supports the massive increase of IRS agents that was part of President Biden’s Inflation Reduction Act, which House Republicans attempted to stop in the beginning of the 118th Congress.

Representative Goldman recently drew attention to himself in early March when he and Representative Jim Jordan, R-Ohio, sparred over federal government censorship. Goldman made the claim that there was no direct evidence of Twitter working with the federal government to censor what he called “lawful speech,” but Jordan disputed this. Later, he was accused of violating House ethics rules by retweeting a tweet from his congressional Twitter account about the hearing to his personal Twitter account, which contains a donation link to his political campaign fund.

Copyright 2023, LibertySociety.com