More on Trusts in South Dakota

I will admit, it was refreshing to read this humorous article about South Dakota Trusts. It all starts with some digs on Noem, EB-5, Gear-Up, etc.;

Corey Lewandowski. Read it all here: (The BulwarkThe Daily Beast) BTW, Ian Fury, Noem’s official spokesperson, said “Corey was always a volunteer, never paid a dime (campaign or official).” To which I instantly responded, “So, you are saying that he did it for love.”

Is that what Repugs call love? Unfortunately, YES!

Now I am proud to say that in one way, I actually broke this story, on SleuthSayers, back on June 20, 2012. It’s just that no one listened. As the once and (probably) future AG Marty Jackley once told me, “Call me when there’s a crime.”

I think Jackboots had that line disconnected after Dep SOS Pitty Pat and SOS Jason Gunt left office.

Unless you live under a rock or are dumber than* our governor (or related to her) you know that the Trusts don’t benefit average South Dakotans one iota, it doesn’t even benefit main street or the government coffers in Pierre. There is a select group of banksters, bondsters and all around scammers making money from this and the cavemen and Betty Rubbles running our state house don’t have a clue about the laws they are passing.

I can feel all that liberty and freedom making me dumber by the minute.



8 comments ↓

#1 D@ily Spin on 10.10.21 at 5:10 pm

It’s a problem when one state in particular harbors unregulated trusts. It should bring the IRS and FBI here. Hopefully they’ll also uncover misappropriation of federal COVID funds, Flood money spent on the Denty, and city TIF schemes.

#2 Eve Fisher on 10.10.21 at 5:33 pm

Thanks for using my article! Yeah, South Dakota’s having a freaking fit about this, aren’t they? Amazing the number of people who are trying to convince us now that “trusts are our friend”. I’ve heard that one before.

#3 l3wis on 10.10.21 at 5:46 pm

Eve, you will have to reach out privately, I think we could have a ‘good’ convo. Besides the fact that all of this corruption is F’G obvious is how our peeps continue to talk about catching them in the act. What do we need? A glue trap at a mouse farm? A flytrap in a hog barn? Ladies night at a strip club? Jesus H. E. Christ!?

#4 Mike Lee Zitterich on 10.11.21 at 5:14 am

So Trusts do not benefit South Dakota?

So keeping income inside South Dakota, and away from the Federal Govt does not benefit South Dakotans?

The less South Dakotans pay in federal income taxes, the more money South Dakotans have to spend locally, which generates more sales and property tax revenues for the State itself – which by the way:

Funds State and Local Highways, Streets, Roads, Police, Fire, Rescue, Affordable Housing Developments, Land and Community Developments, State and Local Parks, more state and local funds for Transit Systems, the Homelessness, etc.

Yes, it also allows Foreign Persons/Companies to hold millions, if not billions of their Capitol inside South Dakota as well, Capitol that eventually is used by the State to invest in large state and local projects thru Municipal Bonds, Investment Revenues, etc.

Where do you think all that “Revenue” comes from to loan State Agencies, School Districts, Municipalities, Townships money for their small town projects?

Whether it is someone who purchases LAND in South Dakota, creating a Land Trust; or a Bank or Financial Institution coming to South Dakota investing in new Buildings, giving people to invest into State Chartered Banks with the goal to ‘loan’ South Dakotans capital to buy a home, a car, to rebuild their homes, that money is benefiting South Dakotans.

To say TRUSTS do not benefit South Dakotans shows just how many people fail to comprehend them personally.

A Trust can be a Land Trust, Real Property Trust, Education Trust, Healthcare Trust, Retirement Trust, to yes – a Business/Company Trust such as an LLC, S-CORP, or C-CORP.

LLC type trusts provide JOBS to thousands of South Dakotanks;

Land and Real Property Trusts provide economic, commericial, affordable, and community development within South Dakota.

Healthcare Trusts provide South Dakotans quality healthcare, let alone health coverage for the future.

Education Trusts provide working South Dakota families tons of income for future education expense for their future children.

Retirement Trusts provide South Dakotans millions of income readily available for their retirement.

No matter how much Democrats-Progressives twist reality, TRUSTS benefit South Dakotans in more ways than one, and what type of person would complain about the goal of AVOIDING Federal Income Taxes?

I would encourage Scott to create SCOTT LLC and keep all his Gross Income fully invested inside South Dakota, leaving the income to be invested back in his nice clothing wear, shoes, tools, equipment, inventory, operational costs of providing his LABOR to thousands of South Dakotans – now his “Income” is benefiting none other than his fellow Neighbors.

TRUSTS BENEFIT South Dakotans – Look at how well South Dakota Government manages the South Dakota Employee Retirement System.

Now imagine if “WE” as the S.D Legislature created the SOUTH DAKOTA PUBLIC CITIZEN TRUST FUND allowing 800,000 S.D Citizens to defer millions of their Gross Wages into the Fund avoiding Federal Income Taxes?

That means, millions of “Wages” freed up, abling 800,000 S.D Citizens to spend money years from now.

Stop Trust Bashing !!!

#5 Nane thankfully no longer in quotes on 10.11.21 at 3:05 pm

The irony of “dumber then”. Golden.

#6 l3wis on 10.11.21 at 8:11 pm

Mike, I am just going to be honest with you, if you can’t keep your responses to a couple of paragraphs I’m just going to start automatically deleting them. If you have that much to say, please, start your own blog. Thanks.

‘Great leaders are almost always great simplifiers, who can cut through argument, debate and doubt, to offer a solution everybody can understand.’

Colin Powell

#7 Mike Zitterich on 10.11.21 at 9:02 pm

Sorry for long posts.

#8 "Woodstock" on 10.13.21 at 11:01 pm

“Something tells me that the anti-quotation boy didn’t major or minor in constructive criticism”…

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