And conservatives say Obama isn't business-friendly! Those pro-business (read: pro-oligarch) organizations the U.S. Chamber of Commerce and Business Roundtable are in favor of the latest U.S.-Panama trade agreement. Why shouldn't they be? It'll help their members avoid U.S. taxes.
Obama laughably claims the deal will create U.S. jobs, even though Panama's measly economy does nothing to create U.S. jobs.
"'A tax haven . . . has one of three characteristics: It has no income tax or a very low-rate income tax; it has bank secrecy laws; and it has a history of noncooperation with other countries on exchanging information about tax matters,' said Rebecca Wilkins, senior counsel with Citizens for Tax Justice, a nonpartisan nonprofit dedicated to improving U.S. tax policy. 'Panama has all three of those. ... They're probably the worst.'"
Meanwhile, the IRS has admitted its too poorly staffed and funded to pursue tax dodgers.
Missing tax revenue adds up to a bigger budget deficit -- which everyone now diabolically agrees must be cut on the backs of children, the elderly, the sick, and the unemployed -- no tax increases allowed, not even on corporate jets.
Obama is a tool of the rich corporations, including Wall Street, which fund his campaign. Socialist, my a--!
By Zach Carter and Sara Kenigsberg
August 9, 2011 | Huffington Post
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