This is from James Taranto of the Wall Street Journal.
First, about the “pass-through” / “shell” corporation:
If the Clintons had any wit, they’d have called it Everyday Americans LLC. The Associated Press reports that last week’s financial disclosures by inevitable Democratic presidential nominee Hillary Clinton “omit a company with no apparent employees or assets that the former president [the candidate’s husband] has legally used to provide consulting and other services, but which demonstrates the complexity of the family’s finances.”
The company is known as WJC LLC. The first set of initials stand for William Jefferson Clinton, the second for limited liability company. As the Small Business Administration website explains, an LLC “is a hybrid type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.” An LLC doesn’t pay corporate income…
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