Legislation wanted to deal with shell firms

Akron Beacon Journal

Time to break into the Shell venture

Many believe Donald Trump vetoed the National Defense Authorization Act (NDAA) calls for the renaming of military bases named after Confederate leaders and does not remove liability shields for social media companies. However, the real reason could be that it contains a measure called the Corporate Transparency Act (CTA) that attacks Shell companies and money laundering. The law requires owners of companies that are not otherwise overseen by the federal government (such as through filing taxes or through strict regulation) to submit a report identifying all individuals associated with the company who are either a exercise substantial control over the company or own 25% or more of it. That information would go to the Financial Crimes Enforcement Network. The law also increases penalties for money laundering and improves cooperation between foreign law enforcement agencies and banks.

Right now, it’s easy for criminals to set up an anonymous shell company that can launder money, evade taxes, and participate in illegal withdrawals. This would make it much more difficult for national and international criminals using Shell companies to hide from investigators.

The Trump family uses Shell companies: Michael Cohen, Trump’s former personal attorney, used a Shell company to pay off Stormy Daniels. According to new reports, Jared Kushner founded a shell company that has spent more than $ 600 million on campaign funds.

Hopefully the CTA stays in the revised version of the Defense Act.

Charlotte Onderick, Stow

The weapon logic open season continues

The state legislature passed a Stand Your Ground bill in December pending the governor’s signature. From 1992 to 2020, Republicans controlled all three branches of the Ohio government for 22 years. Republicans have been in complete control since 2011.

Republicans reject gun control because conservative political identity is now inextricably linked to guns. They are not interested in finding solutions to eradicate the gun violence epidemic because they fear extinction in the suburbs.

The most ardent Republican voters see guns as a central part of their personality, and therefore remain silent about gun control legislation. Unfortunately, many, many police organizations support the same candidates who are doing nothing to contain the gun violence pandemic.

As a gun owner, I myself strongly support measures to curb gun violence and Stand Your Ground is not one of therm.

Dennis Maneval, green

The electoral college is excellent in many ways

In the December 28 comment “How do we protect democracy in the future?” Ann McFeatters says one of the necessary points is “to elect members of Congress who consider the need to abolish the electoral college and mandate direct popular election of the president”. She should be reminded that Congress cannot abolish the electoral college and that a constitutional amendment would be required. This is no small task.

McFeatters may want to refresh why the electoral college was formed rather than voting directly at all. The electoral college process serves many valuable purposes. Perhaps most valuable is to choose a candidate who at some point represents the “mind of the people”. Is the Electoral College Perfect? No, but to quote Alexander Hamilton: “If it’s not perfect, at least it’s excellent.”

Carl Quatraro, Fairlawn

The postal customer has been waiting for months

The Post claims the Post is delayed due to the effects of the pandemic. That is not true. The mail just won’t be delivered. A credit card company said they sent me an invoice on November 15th. I never received it. My granddaughter sent me a letter in mid-October. I never received it. A book club sent me a book in September. The tracking number made it to Cleveland via two states. I never received it.

This is not a late delivery; This is not a delivery at all. Where are all these items? And how many other items that I am not aware of were also not delivered? This lack of effort by the Post needs to be investigated.

Patricia Marmaduke, Akron

Comments are closed.