Hmmm. Donald Trump’s nominee for Treasury Secretary failed to disclose $100 million in assets and “forgot” to mention his corporation in the Cayman Islands.
Don’t worry. Steven Mnuchin assured U.S. Senate it was all “a simple mistake made amid a mountain of bureaucracy.” His “oversight..was unintentionsal.”
Mr. Mnuchin says
Filling out these forms is quite complicated.
He insisted he does pay all his taxes. I wonder if he shares the view of Trump that a billionaire not paying taxes “makes (him) smart.”
I suspect Mr. Mnuchin doesn’t like FATCA very much–if he even knows what it is. He does want to make things simpler.
“I would support changing the tax laws to make sure they are simpler and more effective.”
So dare we hope he would actually bring forward the Republican resolutions to repeal FATCA and move to residence-based taxation?