McCaskill has a Bermuda-based tax shelter, something President Obama called, "the largest tax scam in the world," where she's managed to hide over $1,000,000 to avoid paying taxes.
McCaskill issued the following statement regarding the tax shelter:
"Like Warren Buffet, my husband has an investment in a reinsurance company in a foreign country that has never been a tax benefit to [us] nor will there ever be a tax benefit for this investment."
Unfortunately, she said just the opposite to the Kansas City "Red" Star during her 2006 campaign saying that Rural Reinsurance Company International, Ltd., existed as a tax shelter. In that same article, the Citizen's for Tax Justice said:
"It’s all about avoiding taxes. That’s the whole point of them. I’ve heard so many excuses for doing it. But why is it in Bermuda? There’s only one reason. Because of taxes."
At least fellow tax cheat Tim Geithner is going to close these tax shelter loopholes so Claire can eventually pay her patriotic fair share of the tax burden.