Panama Papers: The Sham of Austerity and the Storms to Come

[Ferd Berfel]

http://www.truth-out.org/opinion/item/35559-the-sham-of-austerity-and-the-storms-to-come

(snip)

...We need education budget cuts, no infrastructure repair, no health care reform, because look, see, we're broke.

No, we aren't. We were robbed, and we can get that money back if we choose to act. This is a fiction we live in, cunningly crafted to cover the tracks of those who care only for themselves. Between the bloated "defense" budget and all that untaxed money lying offshore, we have the revenue required to address these pressing issues and chase the "austerity" argument off like a diseased cur.

But will we? There is a distinct possibility that the leading candidates for the highest office in the land, their friends and top donors, are hidden in the pages of the Panama Papers. We may never know, because according to the Guardian, much of the content will remain secret, sealed off, buried.

(snip)

There is another storm coming, rumbling the deep thunder of discontent just over the horizon. Those who stole from our present and future would do well to heed that noise. If and when that storm does come, it will not be my little girl who is afraid. It will be them.

____________________

There is ONLY 1 candidate who is on the correct side of this incredible problem - and always has been.

It is not possible for a Clinton to fix this, even IF they wanted to. They are in too deep.

[Warpy]

1. It's not possible for Bernie Sanders, either

but he's the one to start building public will to do so. Public will is what it will take to get all the conservative dead wood out of the government.

This mess took over 40 years to make. It's going to take as long to undo unless the crisis becomes massive enough to start to make the biggest fortunes evaporate into the derivatives that make them up.

[Ferd Berfel]

2. As I said

Bernie is the only one consistently on the correct side of this AND
the only one who will even try to fix it.

[rhett o rick]

38. You won't get a response. He did his job and got the number one response

slot to try to hijack the thread. He is off to get the next one.

[Ferd Berfel]

40. Think they get paid for this?

[Baobab]

24. TRADE DEALS (like the ones the Clintons passed in the 90s) LOCK IN AUSTERITY

Any of the (4, 8, ??) pending trade deals -(You show your complicity if you just say "TPP" ) set in motion the austerity program to steal public services and loot society and give corporations entitlements to maximize the profits in the supply chains. (often that means globalizing them and that will mean huge job losses as those jobs are captured by corporations based in the lowest wage countries that are still members, paying the lowest wages while still charging the highest possible prices, after all markets are captive in countries but corporations are not.

[ChiciB1]

29. What Many Bernie Supporters See Is This...

It's taken years to get to this point and it's going to take many years and HARD WORK for us to BEGIN to make a change. I HAVE NEVER been under any illusion that Bernie will come storming in and "presto, with wand in hand" change ANYTHING without hard work!

AND it's going to take The People Of This Country to keep fighting back to START making changes to FIX some of these many, many problems!

NO, Status Quo only means that "maybe" some baby steps might begin! That's what Hillary means to me because I've NOT ever seen anything different from her. She campaigned THE VERY SAME WAY when she ran against OBAMA! Attacked him for what he wanted to change, said SHE was going to support issues that she never did... well TODAY Hillary is the same Hillary she was back then. No, she didn't become POTUS, but is once again defending the same issues she had then, but saying she has EVOLVED!

Not buying it because I really DON'T believe her and when she attacks and then plays the victim is simply how Hillary plays the game.

So, even IF she's the nominee it will only prove to me that this country is STILL willing to accept what we have now! We're seeing more and more voting irregularities than ever before (many Democrats are to blame too) but when a country is NUMBER 47 out of 47 on the list of "fair elections" should be an OUTRAGE to ALL Americans!

I realize Bernie seems to be fighting back and has decided he's not going to let himself be rolled, then I join with him because he really needs to show he's UNWILLING to get rolled! So, if this looks like negative campaigning one just needs to look at who her's running against!

ENOUGH FOR NOW! Gotta get some work done around my house, like cleaning etc.!

[Kalidurga]

3. Has the connection to Greece been made yet?

Never mind there it is. It's hasn't connected all the dots but, this is the beginning.
http://greece.greekreporter.com/2016/04/05/greeks-included-in-the-panama-papers-list/

[fasttense]

22. I don't think US citizens and corporations are absent from the Panama files.

I think the information on US involvement in the Panama Files has been carefully cleaned up. I think the corporate media is hiding the information because the information would sway the elections and they have convinced themselves that it would hurt US democracy to let out the info before the elections.

Remember this:
"A column by New York Times public editor Byron Calame August 13 reveals that the newspaper withheld a story about the Bush administration’s program of illegal domestic spying until after the 2004 election, and then lied about it." https://www.wsws.org/en/articles/2006/08/nyti-a22.html

Then there was the very quiet way the consortium of news organizations quietly hid the fact that Gore won the Florida election and thus the presidency. "On the other hand, the study also found that a statewide tally would have resulted in Gore emerging as the victor by 60 to 171 votes, if the official vote-counting standards had not rejected ballots containing overvotes (where a voter marks a candidate's name and also writes it in)." https://en.wikipedia.org/wiki/Bush_v._Gore#Recount_by_media_organizations

Our media has been complicit in getting and keeping the bushes in office. I think they are doing the same thing now for some people up for election.

[Baobab]

25. There are at least 200. However, Delaware is already the biggest tax haven

in the world by far. US taxes on the very wealthy and corporations are also very low relative to many other countries.

Almost all of the other developed countries tax more than the US does.

See http://ctj.org/ctjreports/2013/04/the_us_continues_to_be_one_of_the_least_taxed_of_the_developed_countries.php

or PDF version: http://ctj.org/pdf/oecd2013.pdf

There is likely a newer version of this chart on their site... they update it every few years.

[arikara]

30. Media in Canada

admitted right off that they are withholding names of Canadians in the files. I'd like to know how media gets their hands on the list and nobody else.

[KamaAina]

34. The MF'ers have a subsidiary in Vegas.

And yes, all its data was carefully cleaned up.

http://www.democraticunderground.com/10027747164#post2

[Kalidurga]

35. I find it impossible to believe that this is was made possible by US laws

And US companies didn't take advantage of it in great numbers. So, yes there is a cover up. I don't know when we will find out but we will find out.

[lastone]

4. The revelations in the Panama Papers

Should be the thing that ushers Bernie Sanders into the presidency, he is the only person running who's been consistent on this issue. He's been so consistent as a matter of fact that he's actually been mocked for it almost universally, on both du and on rw media outlets. I see very clearly how riotous Bernie Sanders has been, vote after vote, issue after issue he has been on the right side of the argument often times when very few other people had the courage to speak out or act on their beliefs. The word hero is often misused in my opinion, but Bernie Sanders has been a hero for regular Americans for decades.

Thom Hartmann also deserves great respect and admiration for bringing us Brunch with Bernie for so many years, thanks Thom!

[FlatBaroque]

5. But as Hillary's BFF Lloyd Blankfein stated...

"people need to adjust their expectations" (that social security will continue to exist).

[FlatBaroque]

6. We have been robbed blind

It is difficult to determine how long the theft has been occurring. I would date it back to the creation of the Federal Reserve, the primary vehicle for the extraction of a nation's wealth.

[pnwmom]

7. Obama and Hillary did fix this, with FATCA. That's why there are very few US names on the list.

And most of the 200 are on there because they own real estate.

http://www.usatoday.com/story/news/2016/04/06/panama-papers-americans-with-past-financial-crimes/82704788/

[4bucksagallon]

15. From my understanding it's more this.

There are several reasons why the United States might not have been a major source of clients for the Panamanian law firm, relatively speaking. Perhaps it deliberately avoided having a large presence in the United States, so as not to attract the attention of U.S. authorities. Or perhaps there was too much competition.
An article published in The Economist in 2012 pointed out that the business of setting up shell companies in tax havens is competitive and includes a number of well-established firms, such as the Hong Kong-based Offshore Incorporations Ltd., the Isle of Man-based OCRA Worldwide, and Morgan & Morgan, of Panama. In other words, wealthy Americans have many options for structuring their offshore holdings.
http://www.newyorker.com/news/john-cassidy/panama-papers-why-arent-there-more-american-names

Hong Kong-based Offshore Incorporations Ltd., the Isle of Man-based OCRA Worldwide, and Morgan & Morgan, of Panama.
Hong Kong-based Offshore Incorporations Ltd., the Isle of Man-based OCRA Worldwide, and Morgan & Morgan, of Panama.
Hong Kong-based Offshore Incorporations Ltd., the Isle of Man-based OCRA Worldwide, and Morgan & Morgan, of Panama.
Say it with me we can't repeat it too much as I am sure there are many more US pols and other famous and infamous unpatriotic "Americans" on other lists.
It's a shame that we can't get more to leak their information about the underhanded and crooked dealings of the rich and famous and the rich and not so famous. Wouldn't you agree?

[fasttense]

23. I think it is a cover up.

Come on, do you honestly believe there is a way of NOT paying your fair share of taxes and NOT One US politician or their relatives have taken advantage of it?

It's just like when the New York Times hid bushes illegal spying and the real results of the 2000 elections. They have convinced themselves that it would hurt US democracy so they are hiding it. I bet there is at least one really big politician on that list but the US media has convinced everyone to remain silent about it until after the elections. Bribes, threats and bargains have been made to keep it quiet. It will eventually come out but only after the elections.

I do not for one minute believe there are NO US politicians using the law firm to hide their money from taxation.

[davidpdx]

19. Hillary Clinton and President Obama fucked up by passing FACTA (and FBAR)

Because it snares those of us that are middle class expatriates, not rich. That is why there has been hundreds of people who have given up their American citizenship. The limit for FBAR is $10,000 and FACTA is $50,000. That may sound like a lot, but even with a salary of under $50,000 one can top those limits after five years. Those two laws require hours of paperwork and if by chance you make a mistake, it will be a costly one. The fine is $10,000. So much for keeping tabs on the rich.

[noiretextatique]

21. +1000 eom

[Blue Meany]

31. 200 Names?

I downloaded the list onto a spreadsheet and found 4500 or so names, individual and corporate. I haven't had time to browse through it but I did notice Goldman Sachs had a couple of accounts there.

[bkkyosemite]

8. No body can make me not believe that the Clinton's the Bush's are all over those papers.

[pnwmom]

16. It is much harder to hide money when your returns have been public ever since you made

your millions.

If the Clintons had made a lot of money that just dropped off the radar screen, that would be detectible by the forensic accountants you can be sure the GOP is using to scan their returns.

[rhett o rick]

39. Not if the money never was in their personal accounts. Directly from the

House of Saudi to offshore accounts. Never pass go and never get taxed.

And I believe the authorities are looking into a lot of money missing from the Clinton Foundation and Retirement.

[pnwmom]

41. Utter nonsense. The Clintons had no trouble making plenty of money on their own. n/t

[rhett o rick]

43. Their money is all dirty money. Given with the expectation of quid pro quo.

Amassing power and wealth at any cost is what they seek. And how many hundreds of millions have been given by foreign governments to their "Foundation"?

[kentuck]

9. Tax evasion is illegal.

How else would we define it?

[cantbeserious]

10. HRC Is Owned By The Oligarchs, Corporations And Banks - She Would Never Blame Her Masters

eom

[scottie55]

11. Or Prosecute Them

Why do you think they are working so hard to appoint her to the White House job.

[cantbeserious]

14. Exactly

eom

[DhhD]

26. Oh. Obama first then Clinton to make the pardons.

[Rosa Luxemburg]

12. Tax dodging for the rich

[jalan48]

13. Secret speeches, secret bank accounts, secret government.... because?

[snot]

17. Let's understand:

few U.S. persons/entities will be implicated, bec. they've already co-opted U.S. law. They don't have to incorporate in off-shore havens; they can avoid disclosure by incorporating in the U.S.

Pls correct me if I'm wrong . . . but most if not all U.S. states require no more than the name of an "incorporator" and a "registered agent," both of which can be hired virtually instantly.

[Dustlawyer]

18. K&R!!! I spoke to a 1% Trust Funder who admitted that he has about 20 shell corps and is

eventually paid by a Trust. It's happening in America too. Remember, this is just one leak from one law firm.

Both political Party's are up to their eyeballs in this. America is run by a shadow government made up of Plutocrats and corporations. As no less than Former President Jimmy Carter said, we are a Fascist country now run by Oligarch's.

Bernie is building a Movement to overthrow this shadow government, that's why it is a political REVOLUTION!!!

[mwooldri]

20. [Insert candidate name] could do it.

The only thing that《candidate》would need to possess is an absolute iron will and determination to see it through no matter what opposition is thrown at them.

I specifically said "candidate" rather than any name because anyone who is running for office can do something about it - even Clinton, Trump, Cruz, not just Sanders... but probably more importantly your state's US Senator candidate and your US House Congressional Representative candidate. If there is a hard core team in Congress who want reform plus a majority who would go along with it then even with a weak President things can get done.

[SocialLibFiscalCon]

27. Sadly it won't happen though

Outside of Bernie, there isn't any other candidate or politician who would think of pursuing this. D or R, they are all beholden to the same masters. The rest is all a big dog and pony show to keep the vast majority of Americans in the dark.

[Ferd Berfel]

37. a sad truth

Bernie is the last chance. By the time E. Warren gets in to position (assuming that they even allow her to get in to position)
IT will be too late.

[ChiciB1]

28. I've Been A "Johnny (Janey) ONE NOTE On This Subject For

YEARS! Can't tell you how many. many times I've talked about for the the PAST TEN years at least! OUR DEMOCRATIC PARTY, no matter the opposition from REPTARDS should have -- at the very least -- pounded this issue and talked about this over and over!

But no, for the most part they've been silent and NOT pushed back outside the confines of their closed offices in D.C.! Unfortunately too many of them have used the excuse of OPPOSITION and in truth kept moving more to the right!

And, then how can we ignore the fact that OBAMA supports the likes of DWS & PATRICK MURPHY down here in Florida! Sending THIS message to the people here in FLORIDA is nothing more than an outrage! You can attack Alan Grayson for perceived hedge fund problems, but I'm not sure if this isn't anything more than a concerted effort by TPTB who very probably have MANY MANY more conflicts of their own hiding the closet.

I at least have HEARD Grayson talking like a Democrat and wanting to FIGHT back when all too many other BIG NAME Democrats have abandoned us! PATRICK MURPHY is simply ANOTHER DLC/Third Way Reptard turned Democrat who will fall in line with the rest of the RW Democrats!

And then DWS!!!! REALLY OBAMA?? I AM seeing Obama all of a sudden actually fighting against issues he should have done long a go IMO! I will thank him for that, but NO his support of these two people is WRONG for what I want from The Democratic Party! I feel strongly that these two people will do more to KEEP "we the people" where they want us!
JMHO

[Uncle Joe]

32. Kicked and recommended.

Thanks for the thread, Ferd Berfel.

[felix_numinous]

33. Bernie Sanders offers the last peaceful way out.

The 1% need to realize he is the best arbitrator, the people's representative, without which they will have a mess on their hands. People are not going to sit this one out.

If they were smart they would realize Bernie Sanders is what will come between them and an angry populace. If Hillary or others get in this country will not be a stable place.

[rhett o rick]

42. The Greedy Oligarchy should heed the words of Machevalli which essentially said,

"don't take everything from your enemy and leave them nothing to lose. There is no more fierce warrior."

[Ned Flanders]

36. We are not broke, we are being robbed.

This is not "just politics," this is organized crime.

Thanks to Bartcop for first exposing me to these fundamental truths.