Socialist Sen. Bernie Sanders' Ugland House

Over 50% of publicly traded United States corporations and 60% of the Fortune 500 companies are incorporated in Delaware.
Why so?
Delaware charges no income tax on corporations not operating within the state, so taking advantage of Delaware's other benefits does not result in a state income tax cost. In general, the state is viewed as a positive location for corporate tax purposes because favorable laws of incorporation allow companies to minimize the corporate expenditures (achieved through legal standardization of corporate legal processes), creating a nucleus in Delaware with operating companies often in other states.
Simple answer: They save money, leading to higher profit for the owners of the company, through stockholders such as you and me
Unfair? Only if you are not part of any of the US financial system. For example, if you don't only individual stocks or bonds, if you do not have a 401(k), if you do not have a standard IRA or a Roth, if you have no benefit from the Teachers Retirement Union or Railroad Retirement Plan. In other words, the only income you have is from the sweat of your brow and if you can't make it financially through that, the federal government gives you money to maintain a standard of living. The money grants from the federal government are from you and me, who do have retirement incomes. We worked for that through many years. Is it fair now that we should support people who did not properly plan for their retirement? This United States of America was founded on the basis of a land of opportunity for hard-working people, who could properly control their assets, and not be dumping money into the coffers of King James through taxes.
Howeve, r we have developed an unfair system of double taxation for corporations. The IRS taxes corporations on their profits and then again taxes the stockholders, such as you and me, on any remaining profits. That's very simply double taxation; taxing not only the golden goose but also the eggs of the golden goose.
You and I and the corporations themselves can do essentially nothing to eliminate unreasonable double taxation. However, the corporation still have an obligation to maximize profit for your and my benefits. Incorporation in Delaware is one of the standard ways to do this.
Why all this preamble?
It is really based on Socialistic Senator Bernie Sanders latest attack on corporations. His latest attack is on the profits from overseas corporations. Various US corporations have subsidiaries for sales and manufacturing in various countries of the world. If they operate efficiently, they make a profit which can subsequently be used for expanding the foreign physical facilities to generate even more profit. Since timing of reinvestment and construction is of significance, most corporations retain their foreign generated profits in an offshore facility, such as the Cayman Islands, until such time as the funds can be efficiently used.
Bernie Sanders doesn't like this. He doesn't want those corporate profits held for foreign reentry reinvestment. He wants to immediately apply the standard corporate tax which is again the manifestation of double taxation.
Why would he do this? Very simple. As a tax-and-spend liberal for redistribution of wealth. He wants money in his coffers to spend in any way that he will subsequently think is appropriate; whether indulging in a program of carbon tax to generate even more funds for his eventual squandering on people who have never been allowed to understand the realities of individual responsibility. When he does this, it puts him in a position of extreme power. He then tells the masses what they must do, and he'll dole out a little bread along the way in order to pacify them.
Bernie has latched onto a new term for his latest corporate attack. That is: "The Ugland House". He calls it a scam, but it is not a scam. It is simply another way for corporations to handle foreign profits in the same way that incorporation in the state of Delaware efficiently handles domestic profits. The Ugland House in the Cayman Islands is the registered home of 18,000 corporations holding profits from foreign operations for eventual reinvestment.
What is there a scam about this? The corporations hold their profits there until each of them find in opportunity for an appropriate reinvestment. Congress has previously encouraged foreign investment through such operation of holding money outside the United States where it will be delayed for taxation until such time as it is returned to the United States. Bernie Sanders doesn't like this. He wants to change congressional rules so that the IRS can use double taxation now, rather than sometime in the future.
Bernie also runs a poll. He asks whether corporations should pay their fair share of income tax. Responders will always say "yes" to that question, on the assumption that if such corporate opportunities as the Ugland House is eliminated, it will immediately increase the tax revenue for the federal government and expectedly reduce taxes for the middle class. He doesn't say anything about the unfair aspect of double taxation, nor does he say anything about long-term investment opportunities in order to develop corporate positions for generating increased profit. In short, he is deceptive, deceptive, deceptive. The more people we have like him in our federal government; not only the Legislature but the Administration, the quicker we will see this country decline into a state of economic oblivion.