Lunchbox's State of Delaware is The CORPORATE TAX HAVEN of America - Why Joe? why?

[Bigdog]

"WILMINGTON—U.S. law, as is well known and well reported, allows companies to incorporate in Delaware (or any other state) and be governed by that state’s laws and tax code. Delaware doesn’t tax “intangible assets,” and this encourages companies to move parts of their business to Delaware to avoid taxes in other states. This has led to Delaware being labeled a “tax haven.”

https://www.theatlantic.com/business...em%20to%20work.

No wonder corporations have kissed his ass for 47 years.

[Nordberg]

It is actually a banking and credit card haven. That was created deliberately by gutting usury laws and regulations. That is why banks and credit card companies can do whatever they want.

[Walt]

"WILMINGTON—U.S. law, as is well known and well reported, allows companies to incorporate in Delaware (or any other state) and be governed by that state’s laws and tax code. Delaware doesn’t tax “intangible assets,” and this encourages companies to move parts of their business to Delaware to avoid taxes in other states. This has led to Delaware being labeled a “tax haven.”

https://www.theatlantic.com/business...em%20to%20work.

No wonder corporations have kissed his ass for 47 years.

The Delaware State Government is very business friendly. Biden has never been part of the Delaware State Government.

[Bigdog]

It is actually a banking and credit card haven. That was created deliberately by gutting usury laws and regulations. That is why banks and credit card companies can do whatever they want.

Some should tell Occupy Wall Street about Biden's 47 years of shilling for the financial industry.

[Bigdog]

The Delaware State Government is very business friendly. Biden has never been part of the Delaware State Government.

Biden is the State's head lobbyist in DC.

[votebiden]

"WILMINGTON—U.S. law, as is well known and well reported, allows companies to incorporate in Delaware (or any other state) and be governed by that state’s laws and tax code. Delaware doesn’t tax “intangible assets,” and this encourages companies to move parts of their business to Delaware to avoid taxes in other states. This has led to Delaware being labeled a “tax haven.”

https://www.theatlantic.com/business...em%20to%20work.

No wonder corporations have kissed his ass for 47 years.

Biden did not make Delaware's tax laws.

[votebiden]

The Delaware State Government is very business friendly. Biden has never been part of the Delaware State Government.

Correct.

[Matt Dillon]

Idk, but banks certainly did well with property acquisition during Obarry and Obiden's time.
They foreclosed and took over tons of property after Barry bailed them out with taxpayer money.
They should have been liquidated, paying off all depositors/investors 1st.
Of course that would be too much like right.

[Matt Dillon]

Joe Biden was the key to helping big banks, credit card companies, and Wall Street screw average Americans.

Over time, Biden’s exertions on the bankruptcy bill began to shape his national reputation.

“His energetic work on behalf of the credit card companies has earned him the affection of the banking industry and protected him from any well-funded challengers for his Senate seat,” Elizabeth Warren wrote in the Harvard Women’s Law Journal. “This important part of Senator Biden’s legislative work also appears to be missing from his Web site and publicity releases.”

Warren’s criticism of Biden came to a head at a Capitol Hill hearing in 2005, when they sparred over the bankruptcy bill for 15 minutes.

Biden appeared exasperated with the expert witness sitting across from him.

He found it “outrageous” that she would question the openness of Delaware’s bankruptcy court to small creditors, and he insisted that Warren was aiming at the wrong target.

Her focus should be on big structural issues like health care and lending practices, he insisted, rather than the particulars of the bill he was pushing:

Biden: Maybe we should talk about usury rates, then. Maybe that is what we should be talking about, not bankruptcy.

Warren: Senator, I will be the first. Invite me.

Biden: I know you will, but let’s call a spade a spade. Your problem with credit card companies is usury rates, from your position. It is not about the bankruptcy bill.

Warren: But, Senator, if you are not going to fix that problem, you can’t take away the last shred of protection from these families.

Biden: I got it, okay. You are very good, professor.

Biden takes criticism of his bankruptcy position personally, in part because it infringes so directly on his well-cultivated political identity—a middle-class warrior and longtime critic of corporate campaign contributions.

In a floor speech just before the bankruptcy bill’s passage, he accused its opponents of “fabricating wild claims”.

“Biden has championed the middle class for his entire career and has a proven track record of delivering on his progressive values,” his spokesperson Michael Gwin said.

When the New York Times Magazine asked Biden about bankruptcy reform in July, he was defiant.

Contributions from banks didn’t matter to him, he said.

Plenty of people in Washington, including then-Sen. Barack Obama, opposed it. Biden’s support was instrumental, and he was deeply invested in its success.

A 2008 study published in the American Bankruptcy Law Journal found that “credit card companies saved billions because of reduced loan loss rates,” but that none of those savings benefited consumers. Because interest rates and late fees continued to tick upward, “the cost to credit card customers increased 5% to 17%.”

And even before the recession hit, Credit Suisse found that the bankruptcy law had “a profound impact on subprime borrowers” and made it more likely that borrowers would fail on their bankruptcy payment plans.

Before that law was passed you could file a chapter 7 bankruptcy for seven, eight, or nine-hundred dollars, including attorney’s fees and filing fees, and that’s gone up to more like $2,000. It’s made bankruptcy much more expensive, difficult, burdensome, and less effective.”


https://www.motherjones.com/politics/2019/11/biden-bankruptcy-president/

Too bad I can't thank that post because Legion wants to be a snowflake doublenigger.

[CharacterAssassin]

Biden is the State's head lobbyist in DC.

Please be less of a pathologically dishonest cunt.

[Walt]

Biden is the State's head lobbyist in DC.

It is the Republicans that support states reverting to the least common denominator, not the Democrats. Biden had no draw with the Republicans.

[Trump's Brain]

"WILMINGTON—U.S. law, as is well known and well reported, allows companies to incorporate in Delaware (or any other state) and be governed by that state’s laws and tax code. Delaware doesn’t tax “intangible assets,” and this encourages companies to move parts of their business to Delaware to avoid taxes in other states. This has led to Delaware being labeled a “tax haven.”

https://www.theatlantic.com/business...em%20to%20work.

No wonder corporations have kissed his ass for 47 years.

Jealous?

[Trump's Brain]

Biden, whose state is home to student lenders like Sallie Mae and Navient, cast vote after vote to make student loan debt as hard to escape as credit card debt.

In 2008, the New York Times reported that Obama aides considered MBNA “one of the most sensitive issues they examined while vetting Biden for a spot on the ticket.”

Biden’s critics still harbor those concerns.

We need to have someone who voters instinctively see as on their side and willing to challenge entrenched interests.

The economic system Donald Trump is running against is the one that Joe Biden helped export from his state to the rest of the nation.



https://www.motherjones.com/politics/2019/11/biden-bankruptcy-president/

You're like crazy people. First you complain Democrats are business-unfriendly. You praise trump for his corporate tax cuts and deregulation. Then you bash Biden for making Delaware being too business friendly?? Bizarre!

I swear you knuckle-dragging trumpists have lost your fucking minds!

[Nordberg]

Some should tell Occupy Wall Street about Biden's 47 years of shilling for the financial industry.

Occupy? man do you live in the past. You should love Biden then. He is your man. So he will get your vote?

[Trump's Brain]

I blame Biden or claiming to be "middle class Joe from Scranton" when he's a multimillionaire who was known as the "Senator from MBNA".

Can you explain why MBNA should have paid Hunter Biden a million dollars at the age of 21 while did dad was lobbying for them in the Senate?

https://www.cbsnews.com/news/mbna-paid-bidens-son-as-biden-backed-bill/

I don't know, can you explain why the Secret Service pays trump millions of dollars to stay at his resorts? Or why planes through Europe are now diverted to fuel at airports near trump properties so they'll have to stay there and line trump's pockets?

trumpists are such fucking hypocrites!