Steve Bannon Used $60M From Offshore Account To Attack Hillary

The money that Steve Bannon used came from an offshore, non-taxed account that billionaire investor Robert Mercer kept to ensure his funds couldn't be taxed at a higher rate in the U.S.

New documents reveal how a billionaire helped Steve Bannon, former adviser to President Donald Trump, funnel millions of dollars from offshore accounts to accuse Democratic presidential nominee Hillary Clinton of a fake corruption scandal.

Billionaire investor Robert Mercer has helped fund many far-right conservative causes. But documents from a trove of leaked information, collectively called the Paradise Papers, demonstrate that he used offshore accounts in Bermuda to avoid taxation in the United States, The Guardian reports.

Mercer then used the offshore money — around $60 million — to pay for those conservative causes, including an organization called the Government Accountability Institute.

The GAI was formed in order to combat “crony capitalism” according to their site. The GAI also helped spearhead production of a book called “Clinton Cash,” written by Peter Schweizer, a co-founder of the organization alongside Bannon.

Bannon also helped turn Schweizer’s book into a motion picture.

“Clinton Cash” details the supposed controversy surrounding Clinton and her foundation, as well as the so-called Uranium One deal. The conspiracy theory has largely been debunked, but conservatives still maintain that Clinton was instrumental in producing a deal between Russia and the U.S. to export uranium to the Kremlin, despite evidence to the contrary.

According to The Guardian, more than half of all the funding to the GAI came from Mercer. The organization is still in existence today, and it explains on its website that it serves to “expose crony capitalism, misuse of taxpayer monies, and other governmental corruption or malfeasance.”

Yet for all the noise they’re making on Clinton, they ought to take a look at themselves. The GAI obtained its own capital through a wealthy beneficiary who used offshore, non-taxed funds, rather than through a true marketplace of ideas. Although that's technically legal, it's awfully smarmy.

That's the opposite of what the GAI is attempting to promote, and it cheats the American taxpayers by putting more of the burden of funding the government on their backs.

 Thumbnail/Banner Credit: Reuters


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