Sunday, April 10, 2016

Back in 2011

Back in 2011, Bernie talked about Panama and offshore money laundering. Nothing more needs to be said. As stated by others, the more you research Bernie, the more impressive he becomes. Pretty stellar without question.

Unlike most politicians, Bernie Sanders becomes increasingly impressive the more you learn about him. Forget for a moment whether you think the tax dodging strategies popularized by the Panama Papers are ethical or not, it’s important to note that Bernie Sanders publicly warned about an expansion in such behavior all the way back in 2011. On the other hand, Hillary Clinton and Barack Obama pushed for legislation that made such controversial strategies easier, under the guise of “free trade” with Panama.

It gets better.

Years before more than a hundred media outlets around the world released stories Sunday exposing a massive network of global tax evasion detailed in the Panama Papers, U.S. President Barack Obama and then-Secretary of State Hillary Clinton pushed for a Bush administration-negotiated free trade agreement that watchdogs warned would only make the situation worse.

Soon after taking office in 2009, Obama and his secretary of state — who is currently the Democratic presidential front-runner — began pushing for the passage of stalled free trade agreements (FTAs) with Panama, Colombia and South Korea that opponents said would make it more difficult to crack down on Panama’s very low income tax rate, banking secrecy laws and history of noncooperation with foreign partners.

Even while Obama championed his commitment to raise taxes on the wealthy, he pursued and eventually signed the Panama agreement in 2011. Upon Congress ratifying the pact, Clinton issued a statement lauding the agreement, saying it and other deals with Colombia and South Korea "will make it easier for American companies to sell their products." She added: "The Obama administration is constantly working to deepen our economic engagement throughout the world, and these agreements are an example of that commitment."

Any questions as to why Bernie makes eminent sense?

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