betsy devos yacht

The Seaquest Is Just One of the DeVos Family’s Ten Yachts. We may earn a commission from these links. 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. What’s in question here is a type of taxation called “use tax,” which applies to tangible products and entities that are brought into and used or consumed in a particular jurisdiction (in this case the state of Michigan), in circumstances where sales tax does not apply. It—the yacht, not the dock—costs $40 million. Corporation, the Michigan-registered management company which oversees the substantial financial investments and business interests of the DeVos family, headed by 92-year-old Richard DeVos, a multi-billionaire businessman and one of the co-founders of the “multi-level marketing” giant Amway. Dick Devos Jr. landing one of his Helicopters in Millenium Park, Grand Rapids Michigan If you could, wouldn't one of your 365 days in Grand Rapids wouldn't you want to take a Helicopter ride in Dick DeVos Jr.'s Helicopters? We found one online broker selling a brand-new 164-foot Westport yacht (like Seaquest) for $42.5 million, and another 2013 listing for a similar vessel which presented a sale price of $34 million. It has cabins for 12 guests and 12 crewmembers. So the Americans for Tax Fairness meme is also false on the grounds that it claims Betsy DeVos registered “her family’s fleet of 10 yachts in the Cayman Islands,” but in reality nine of those vessels are registered in the United States, and the one that is registered in the Cayman Islands is not managed or owned by Betsy DeVos. The SeaQuest Yacht, owned by Secretary of Education Betsy DeVos docked in Huron, Ohio, on July 20, 2018. ACM essentially dissolved with minimal assets and was unable to pay the fine due to insolvency. 8 November 2017. ishmael1968 says: July 29, 2020 at 9:47 pm Hmmm, she’s not melting, strange. Betsy DeVos owns a yacht called Seaquest, which she registered in the Cayman Islands to avoid U.S. taxes. 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. As director for ACM, DeVos paid for the cost of litigation, but the overall $5.3 million fine was never paid. 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. Search terms and headlines landed the popular chain in Google's "Trending Searches," as well as in breaking news mobile notifications. The claims contained in the viral memes we listed are based on several assumptions, made without sufficient evidence, and contradicted by spokespersons for Dick and Betsy DeVos and Richard DeVos. 7 August 2018. Trump Is Devoted to Strongmen and Shady Money. MacGuill, Dan. Taking off and landing from Millennium Park? for their donations. ThinkProgress is editorially independent of CAP. 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. Thus, these donors can also claim a deduction for the same donation on federal taxes, essentially being reimbursed twice for their donations. The yacht’s foreign flag, though, was an illustration of how an allegedly “America First” administration is chock-full of moguls who have eagerly stashed their wealth offshore — as long as doing so means avoiding taxes, regulations, transparency requirements and domestic employment laws. The second is on federal taxes. 19 January 2017. Nine of the vessels listed as DeVos assets in a Wall Street Journal article are registered in the United States. DeVos has previously been criticized for her family’s wealth and holdings.


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