Bernie Sanders Hits Hillary Clinton On 'Panama Papers' Tax Dodging

[Uncle Joe]

(snip)

In a statement released on Thursday, Sanders criticized Secretary Clinton for supporting the Panama Free Trade Agreement as Secretary of State. He said that the agreement, which he opposed, opened the door to greater tax evasion by Americans in the notorious tax haven.

“I don’t think you are qualified if you supported the Panama free trade agreement, something I very strongly opposed, which has made it easier for wealthy people and corporations all over the world to avoid paying taxes owed to their countries,” Sanders said on Wednesday a rally at Temple University in Pennsylvania.

In 2011, Sanders argued against the agreement on the Senate floor, saying that it would make a “bad situation much worse.” At the time, Clinton advocated for the agreement—an about-face from her opposition to it during her presidential campaign just four years earlier.

Sanders’ recent comments come in the wake of the release of the Panama Papers, a trove of documents revealing the offshore accounts in tax havens held by more than one hundred public officials around the globe. On Tuesday, Sanders pledged to terminate the Panama Free Trade Agreement within the first six months of his presidency.


http://fortune.com/2016/04/07/sanders-clinton-panama/

Hillary had "an about face" here and I believe more shoes are yet to drop on this issue.

[haikugal]

1. Dropped or thrown?

Thanks Uncle Joe!

[kennetha]

2. There he goes again. Making things up whole cloth.

http://www.dailykos.com/story/2016/4/7/1511855/-On-Panama-Sanders-Is-Wrong-but-was-once-kinda-right

Making matters worse for Americans wanting to store their ill-gotten gains offshore, the 2010 United States—Panama Trade Promotion Agreement included a taxation clause that effectively shut down any chance of the rich in the US using Panama as a shelter.

The Tax Information Exchange Agreement includes a clause, Article 5, that specifies the terms of information sharing between the two countries on tax related matters:

The competent authority of the requested Party shall provide upon request by the competent authority of the requesting Party information for the purposes referred to in Article 1 of this Agreement. Such information shall be exchanged without regard to whether the requested Party needs such information for its own tax purposes or the conduct being investigated would constitute a crime under the laws of the requested Party if it had occurred in the territory of the requested Party.


The Article goes on to make clear that Mossack Fonseca’s type of services would particularly be included in the information request:

Each Party shall ensure that it has the authority, for the purposes referred to in Article 1 of this Agreement and subject to Article 2 of this Agreement, to obtain and provide, through its competent authority and upon request:

(a) information held by banks, other financial institutions, and any person, including nominees and trustees, acting in an agency or fiduciary capacity; and

(b) information regarding the ownership of companies, partnerships, trusts, foundations, and other persons, including…. ownership information on all such persons in an ownership chain; in the case of trusts, information on settlors, trustees and beneficiaries; and in the case of foundations, information on founders, members of the foundation council and beneficiaries.


If Panama had ever been an attractive destination for American offshore storage of funds, this agreement shut the door on that possibility.

What a cheap and desperate demagogue Bernie has become.

[libdem4life]

3. Still wondering why no Americans...timing? Political pressure?

Waiting for a Friday night news drop?

[kennetha]

5. Because of Article 5 of the law

Read about it here:

http://www.dailykos.com/story/2016/4/7/1511855/-On-Panama-Sanders-Is-Wrong-but-was-once-kinda-right

[Ferd Berfel]

20. The word is that they are going to start releasing the names of Americans involved NEXT WEEK

Can't wait !

[libdem4life]

25. You can bet there is some furious back room activity

going on as we speak. I did read a post that in 2011 a law was passed to thwart U.S. money going to Panama. Belize and the Caymans are still bustlling with activity.

The 1 percent didn't get there by crumbling with a silly law or two. Always someone willing to help.

[FreakinDJ]

28. How many Clinton Foundation Donors are on the list

[Skwmom]

4. She said one thing while running for Pres, another when voting as a Senator. What a surprise.

There is enough of a record from 08 to show she DOES not mean what she says while running for Pres.

[geek tragedy]

6. Speaking of tax dodges, where are his tax returns? nt

[Uncle Joe]

10. Where are Hillary's transcripts? We have been asking that question for a much longer period of time.

[geek tragedy]

11. She disclosed her taxes from the past 16 years, without being asked.

Why is he unable to match her?

[Uncle Joe]

12. Where are Hillary's transcripts of her well paid speeches to Wall Streets mega banks and such?

[geek tragedy]

13. No one but Sanders voters cares about them.

Tax disclosures are something expected of all serious presidential candidates.

[Uncle Joe]

14. Any American wanting full disclosure in regards to a candidate's "stated" policies

as opposed to actual positions cares about speeches given behind closed doors for over $200,000 a pop.

[geek tragedy]

15. No, just Sanders supporters.

Speeches themselves are an issue, transcripts just an excuse to highlight that issue

[Uncle Joe]

16. Transcripts are the record of those speeches at over 200,000 a pop, did Hillary state

that "no bank should be too big to fail" in those speeches?

Did she argue against monopolies and trusts?

Did Hillary argue against vast wealth and income inequality?

Did Hillary propose raising the minimum wage and bemoan our shrinking middle class?

Did Hillary argue against unfettered free trade agreements or raise concerns about climate change?

Did Hillary's speeches square with her public pronouncements?

[libdem4life]

27. Of course. The Corporist wing is tone deaf

and goes along with the status quo...no matter what. And ever one with working fingers here knows exactly what it's about.

The current is to attack the messenger because it's not the MSM...while we all agree they are totally partisan.

Boggles the mind, but the River of de Nile runs deeply .

[fun n serious]

22. It is a serious concern that he has not provided his tax returns

Speeches are never asked for. Kerry gave speeches. Collin Powell, George Bush.. Taxes on the other hand are expected. It's disturbing.

[Ferd Berfel]

21. I think we're up to abotu 70 days now....

[Octafish]

7. And there's the election.

No matter the microscope applied: The picture of Bernie shows integrity.

When it comes to Banksters, the picture of the Clintons shows UBS -- from the repeal of Glass-Steagall with Sen. Phil Gramm to working in Wealth Management with UBS Vice Chairman Phil Gramm and lackey George W Bush.

[Herman4747]

8. Go Bernie, go! n/t

[Jackilope]

9. Judgement. Time and time again HRC is on wrong side before she sees the light.

Perhaps a more accurate term would be exposed enough to the light to see she needs to change tune to win an election.

We cannot afford her bad judgement. Experience, yes, in poor and opportunist judgement.

[Ferd Berfel]

19. I"ll take Bernie's Judgement over her 'experience'

of really bad decisions.

But let's not forget that Bernie's been in the House & Senate for a very long time. He's had a much wider range of experience backed up by a history of better judgement than the anointed one.

[Betty Karlson]

24. She is a two-trick pony: war and greed.

Hardly the "experience" the USA needs at this critical junction.

[Ferd Berfel]

17. Why the Panama Papers Should Be a US Election Issue

You're on it today UJ ! [

FB - The word is that they are going to start releasing the names of Americans involved NEXT WEEK - Can't Wait!

-------------------------

http://www.democraticunderground.com/12511672077

Whether US politicians are named or not, the kind of arrangements that allow the global super-rich to hide their wealth only exist with our leaders’ consent

[Uncle Joe]

18. Thanks for the addition, Ferd Berfel.

Peace to you.

[Betty Karlson]

23. Take off the gloves: the 1 % and their preferred should NOT get away with this!

Pennsylvania and New York: this is what happens when Goldman Sachs pays a candidate $650,000 for one speech. 9/11 and a gender? No: trade deals with tax havens. Greed running rampant.

[amborin]

26. glad to hear; this has been brushed under the rug and needs widespread publicity and investigation