Could Obama's actions against tax havens help Sanders and Clinton going forward?

[karynnj]

Last week, Obama put out a statement calling for changes to end secret tax haven accounts in the United States. By itself, this is a big deal even though it is not the first US effort against tax havens. In 2010, Baucus/Kerry wrote an amendment that made it harder to move money into off shore tax havens. The likely revenue increase from that balanced costs in a jobs bill.

However, this is happening at the beginning of what appears to be a huge international anti corruption effort taking place now in London.The goal is making tax havens unacceptable. Secretary Kerry described both Obama's action and the international goal in London.

And we are going to ourselves – President Obama just announced – all 50 states, legislation will be put in place to require transparency with respect to businesses that are registered there. We will in addition engage in additional efforts which were already – we’re going to put $70 million into additional integrity initiative to help with local police training in order to help provide additional ability for digital – for internet transmission of payments, which reduces the opportunity for bribery and graft. And there are many different things that we can do technologically to improve this.

But here’s the most important thing that I think ought to come out of today, Mr. Prime Minister, and again, it takes courage to stand up, because in the beginning of this process there’ll be some outlier nations. They’ll say, “Wow, this is a great advantage. They’re going to tighten up their banking system. It’s an opportunity for us to proffer easier terms and we’ll be” – we have to say no safe harbor anywhere. We have to get the global community to come together and have no impunity to corruption. And the minute people begin to feel that enforcement and a broad standard of application, watch how rapidly the standards change. It’ll – you’ll be amazed at how quick this can happen.

http://www.state.gov/secretary/remarks/2016/05/257130.htm

It will be a huge thing if the international community is able to eliminate ALL tax havens. Back in 2008, I listened to a Finance committee hearing on the Cayman Islands shelters. One person who testified was Jack Blum, who had been the chief investigator for Kerry for the BCCI investigations. One key takeaway was that it would take an international effort to end this.
http://www.finance.senate.gov/hearings/-the-cayman-islands-and-offshore-tax-issues

I do not know the genesis of this anticorruption effort, but various foreign ministers, including Kerry, spoke of anticorruption as a major problem at Davos earlier this year. Clearly the Panama Papers added to outrage. Here is a letter from 300 economists calling for ending the tax havens - http://abcnews.go.com/International/300-economists-sign-open-letter-offshore-tax-havens/story?id=38980820

Back to HRC and Sanders. If the US is to be a leader on this, rather than a laggard, Obama's efforts may need support. This is where Sanders and HRC could play major roles. What might be a brilliant thing for Sanders and HRC to do now is for both of them to commit to Obama's effort to get rid of American tax shelters. This is right down Sander's alley and he could transition much of his grassroots to this issue which deals directly with income inequality and corruption if, as is likely, HRC becomes the de facto nominee. I assume that almost all Sanders supporters would consider this a good cause to fight for.

Internationally, this effort could have very major positive effects. Almost all countries have lost tax revenues to these tax havens. This means not having money for infrastructure, healthcare etc.

For HRC, this would be a counter to her perceived weakness on these issues. Her bring 100 percent behind both Obama and the broader international anti corruption effort could help Sanders move his supporters to her in June.

[NewImproved Deal]

1. Sanders, Yes. Clinton--NO.

She's Oligarchy and part of the problem...

[link:|

[highprincipleswork]

2. I agree, that's been her natural tendency and her natural alliance. Personally, especially if she is

the nominee, I hope that changes.

I believe there is room for any motivated person to change. Their reasons for doing so may differ, and we all know that change is hard. But I know Hillary is ambitious, not a bad thing. She is determined, she is a fighter, and I'm sure she would like a legacy.

She already has mirrored Bernie in so many ways to get this far with the electorate. She has witnessed firsthand the power and popularity of Bernie's ideas and policies. Why not join with us and create a renewed Democratic Party?

Whether or not the Rightward swing of the Democratic Party over the past few decades had any merit or not, this is NOW!

Seize the moment, if you want to lead the Democratic Party, and embrace the Populism, this Progressivism. Bernie has already shown ways in which it can be done and be popular.

Why lead a fractured party when one can more easily seize the day and include us and win?

Even President Obama's move here, and others he has taken recently, point in this direction. Populism and Progressivism are in the direction of WINNING! Just ask Donald Trump. He uses anti-trade sentiment and bringing jobs back to the USA as part of his appeal. Let's meet this and raise him.

Triangulation is yesterday's news. We can win in a landslide, Hillary or Bernie, if we just stick with Progressivism and Populism. Third Way is dead.

[karynnj]

3. Hillary, as a Democrat, believes in what government can do

EVERY country would recoup tax revenues that would otherwise be lost. For Clinton, this would mean that there would more easily be money for things like infrastructure and other needs. Not to mention, making this her issue helps get beyond attacks like the one you just made.

[karynnj]

4. More information on the US and British role in admitting their role and vowing change

Last edited Fri May 13, 2016, 12:47 PM - Edit history (1)

US - Kerry

U.S. Secretary of State John Kerry said tens of billions of dollars in stolen money — funds that that could be used for education or building bridges in underdeveloped lands — instead are hidden in banks “in countries including ours.”


"The extremism we see in the world today comes in no small degree from the utter exasperation that people have with the sense that the system is rigged," the top American diplomat said. "And we see this anger manifesting itself in different forms in different elections around the world — including ours."

UK - Cameron:

British Prime Minister David Cameron announced measures, including a public register intended to force companies to name their real owners — a step that British government officials claim will be the first of its kind.

“Why I think this matters so much is that I believe that corruption is the cancer at the heart of so many problems we need to tackle in our world. If we want to see countries escape poverty and become wealthy, we need to tackle corruption,” Cameron said.

http://www.voanews.com/content/kerry-could-face-barbs-anti-corruption-summit/3326360.html