2016 Postmortem
Related: About this forumSanders ardently opposed the trade deal that led to Panama Papers abuses; Clinton supported it
http://www.salon.com/2016/04/05/sanders_ardently_opposed_the_trade_deal_that_helped_make_the_panama_papers_scandal_clinton_supported_it/Then-Secretary of State Hillary Clinton and President Obama both supported the Bush administration-negotiated agreement, which ultimately made tax evasion an even larger problem. Progressive NGOs and watchdogs warned that this would happen at the time, but Clinton and Obama ignored them and strongly pushed for the deal....
Well, it turns out, Sanders continued, that Panama is a world leader when it comes to allowing wealthy Americans and large corporations to evade U.S. taxes by stashing their cash in offshore tax havens.
The Panama Free Trade Agreement, the Vermont senator argued, would there make this bad situation much worse.
daleanime
(17,796 posts)ViseGrip
(3,133 posts)KamaAina
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and so on ad infinitum and ad nauseam.
Scuba
(53,475 posts)Jefferson23
(30,099 posts)bigwillq
(72,790 posts)DanTex
(20,709 posts)Did Bernie actually try to explain how the two are linked together, or is just more empty rhetoric about how awful free trade is?
KamaAina
(78,249 posts)In fact, combating tax haven abuse in Panama would be a violation of this free trade agreement, exposing the U.S. to fines from international authorities, he stressed....
At a time when we have a $14 trillion plus national debt, and at a time when we are frantically figuring out ways to try to lower our deficit, some of us believe that it is a good idea to do away with all of these tax havens by which the wealthy and large corporations stash their money abroad and avoid paying U.S. taxes, Sanders said.
The Panama Trade Agreement would make that goal even more difficult, he added.
DanTex
(20,709 posts)in Panama before the agreement, and they're still doing it now.
Also, he's wrong. Free trade agreements don't bar anyone from cracking down against criminal activity. It might stop the US from putting economic sanctions on Panama in order to force them to change their banking laws, but this has been going on for decades, so it's silly to think that the reason Panama hasn't changed is because of an agreement signed a few years ago.
azmom
(5,208 posts)tax evasion worse.
They just hoped the average citizen would not find out about it.
Thank God for these journalists.
factfinder_77
(841 posts)Article 12.11: Transparency
1. The Parties recognize that transparent regulations and policies governing the activities of financial institutions and cross-border financial service suppliers are important in facilitating both access of foreign financial institutions and foreign cross-border financial service suppliers to, and their operations in, each others markets. Each Party commits to promote regulatory transparency in financial services.
and
Article 18.8: Anti-Corruption Measures
1. Each Party shall adopt or maintain the necessary legislative or other measures to establish that it is a criminal offense under its law, in matters affecting international trade or investment, for:
(a) a public official of that Party or a person who performs public functions for that Party intentionally to solicit or accept, directly or indirectly, any article of monetary value or other benefit, such as a favor, promise, or advantage, for himself or for another person, in exchange for any act or omission in the performance of his public functions;
(b) any person subject to the jurisdiction of that Party intentionally to offer or grant, directly or indirectly, to a public official of that Party or a person who performs public functions for that Party any article of monetary value or other benefit, such as a favor, promise, or advantage, for himself or for another person, in exchange for any act or omission in the performance of his public functions;
(c) any person subject to the jurisdiction of that Party intentionally to offer, promise, or give any undue pecuniary or other advantage, directly or indirectly, to a foreign official, for that official or for another person, in order that the official act or refrain from acting in relation to the performance of official duties, in order to obtain or retain business or other improper advantage in the conduct of international business; and
(d) any person subject to the jurisdiction of that Party to aid or abet, or to conspire in, the commission of any of the offenses described in subparagraphs (a) through (c).
2. Each Party shall adopt or maintain appropriate penalties and procedures to enforce the criminal measures that it adopts or maintains in conformity with paragraph 1.
3. In the event that, under the legal system of a Party, criminal responsibility is not applicable to enterprises, that Party shall ensure that enterprises shall be subject to effective, proportionate, and dissuasive non-criminal sanctions, including monetary sanctions, for any of the offenses described in paragraph 1
Article 18.9: Cooperation in International Fora
The Parties recognize the importance of regional and multilateral initiatives to eliminate bribery and corruption in international trade and investment. The Parties shall work jointly to encourage and support appropriate initiatives in relevant international fora.
djean111
(14,255 posts)Boilerplate.
And, obviously, it didn't work, did it?
pdsimdars
(6,007 posts)Bernie seems to always get it right on every issue and
Hillary always seems to get it WRONG.
It re-enforces my observation that judgement is a much more important quality for President than experience. After all, Cheney has lots of experience. So did Kissinger. And they are unfit for office.
KamaAina
(78,249 posts)me b zola
(19,053 posts)mindwalker_i
(4,407 posts)... and sexist!
KamaAina
(78,249 posts)Jitter65
(3,089 posts)before that bill was passed.