A very big
developing story and apt to draw a lot of attention here
from CNBC with this headline:
“GOP quiet as billionaire GOP donor stands accused of running
biggest tax fraud scheme ever in American history”
(I note: All
the while the GOP pushed for more tax breaks for billionaires of that caliber) –
Three introductory points to this story:
· The billionaire accused of running the biggest
tax fraud scheme in U.S. history was a prolific donor to Republican groups and
causes.
· The leaders of those organizations have kept
quiet on the accusations against him.
· Robert Brockman, the former CEO of Ohio-based
software company Reynolds & Reynolds,
was
charged in October (NBC News)
for running a $2 billion tax fraud scheme.
This story:
The DOJ said at the time Brockman hid capital gains income
for over 20 years through various offshore entities in Bermuda, Nevis, and in secret
bank accounts. He pleaded not guilty to the alleged crimes.
Brockman's most recent contributions to GOP committees came in 2017, ahead of the Congressional midterm elections the
following year, according to FEC records.
Representatives of those GOP organizations that are still
active did not respond when asked whether they plan to refund or give the total
amount of contributions away to charity in the wake of the allegations.
The 2017 contributions had yet to be reported in the media.
Brockman in 2017 donated over $80,000 to the NRCC hoping they
would gain the majority house, but Republicans went on to lose the House to
Democrats with Pelosi (D-CA) becoming speaker.
The FEC records showing the NRCC contributions do not list
Reynolds & Reynolds as Brockman's employer, but the Texas address matches
the location listed on other contributions Brockman has made. The mailing
address is also listed on a business registration form for Reynolds &
Reynolds reviewed by CNBC. The form, signed in April before Brockman was
charged, lists him as the CEO.
Brockman also gave over $100,000 to entities linked to
former Republican House Speaker Paul Ryan (R-WI) including a six-figure check
to the Ryan’s now-defunct joint fundraising committee.
Brockman also made a $5,000 payment to Prosperity Action a leadership PAC which has remained active ever since Paul Ryan left office. Brockman also through
companies he controlled heavily financed a super PAC that backed Mitt Romney
for president in 2012 – that according to a report by Mother Jones.
The WSJ reported March 3 that Brockman and his legal team are claiming
that the 79-year-old billionaire can't be tried because he is suffering from
dementia and is unable to take part in his own defense. Prosecutors reportedly
responded that he could be faking it and that a hearing on Brockman's
competency is set to take place in June. An attorney for Brockman did not
respond to a request for comment.
Democrats are already pouncing on the lack of public GOP
pushback against Brockman after he funded some of their campaigns. American Bridge, a Democratic super PAC
that specializes in opposition research and first flagged the Brockman
contributions to CNBC, used the episode to blast the GOP.
Max Steele an American Bridge spokesman said: “Congressional
Republicans spent the last four years gutting IRS enforcement and cutting taxes
for billionaires while being bankrolled by the biggest tax cheat in American
history. The GOP should return or donate the money, but we know they won't.
After all, how can a party that blindly remains loyal to Donald J. Trump afford
to oppose billionaires committing tax fraud?”
My 2 cents: Not much to
add but to simply reinforce the hypocrisy of the GOP – as we already know about
when it comes to tax cuts for the very rich professing it will “trickle down.”
Ha, that’s a crock. The only
place Brockman’s mega buck trickled down to was to GOP coffers as payback for
those tax breaks that he had been using in his historical massive tax scheme.
This issue should and rightly
so be a huge issue (#1 in fact following the pandemic resolution) over the next
few election cycles starting in 2022. Changes to the tax and campaign finance
laws are long, long overdue. The DEMS can do that now and the GOP would be
fools not to sign on – but we shall see. Stay tuned.
Thanks for stopping by.
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