Friday, February 22, 2019

Beneficial Ownership for All, Not Just Farms

If I correctly understand current payment limitation rules (dubious, at my age it's questionable what I correctly understand) farmers are required to identify the beneficial owners of the legal entities which receive farm program payments.  "Beneficial owner" meaning the live body, as we used to say, who actually gets the money in the end.

That seems to me to be right and proper, so right and proper I come to agree with AEI, not something a good Dem often does, that this should be required for all legal entities.  Without such a requirement the rich and powerful can hide behind a paper veil of dummy corporations, fake partnerships, and trusts.

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