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Let's recap: Yesterday, millions of documents related to a law firm that helps people set up off-shore companies were leaked. Those are the "Panama Papers." They identify the assets of 140 current and former politicians from around the world, as well as a few dozen private citizens.
Governments are up in arms, not because of the endemic corruption the ill-gotten wealth of the politicians in the Panama Papers represents but because, apparently, they didn't get enough of a cut. And there's little evidence additional tax enforcement authority would be used to catch corrupt politicians instead of merely curbing your freedom to move yourself or your assets across national borders.
Today, President Obama addressed the Panama Papers issue not by saying the U.S. would, say, re-examine its foreign aid spending to ensure U.S. dollars aren't fueling corruption abroad, but by using it as an excuse to call on Congress to pass laws to prevent Americans from moving their money out of the country as freely as they can now. He should call Republican presidential frontrunner Donald Trump, who has also railed against "inversions" as if money that Americans earn actually belongs to the U.S. government, and who has some novel ideas about limiting the outflow of money (specifically to Mexico) that maybe the president could build on.
“The American government is pursuing a policy of destabilization all over the world, and this [leak] also serves this purpose of destabilization. They are causing a lot of people all over the world and also a lot of money to find its way into the [new] tax havens in America. The US is preparing for a super big financial crisis, and they want all that money in their own vaults and not in the vaults of other countries,” German journalist and author Ernst Wolff told RT.
originally posted by: ketsuko
What do you want to bet that any power he seizes in order to "fix" this problem only hits all of us and doesn't really touch any of the people uses these tax dodges now?
originally posted by: Metallicus
a reply to: xuenchen
These Establishment / Globalist bastards are the ones that are the problem in the first place, but hey, lets make the regular people pay for our indiscretions. Way to go Obama. Your puppet masters are proud.