• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

How to Defend Offshore Tax Havens From Obama

The conservative opposition to President Obama’s agenda faces a new challenge today when a Senate subcommittee chaired Sen. Carl Levin (D-Mich.) holds a hearing on offshore tax havens. Levin introduced legislation Monday that seeks to recover billions in tax revenue from U.S. corporations and individuals using overseas accounts to avoid paying U.S. taxes. Levin’s bill is similar to a measure co-sponsored by then- Sen. Barack Obama2007.

Republicans wondering how to thwart Obama’s agenda on this point can take their cues from a small northern Virginia think tank with a truly Gingrichian name, the Center for Freedom and Prosperity, which stoutly defends Americans’ right to take their money and run to the Cayman Islands.

Today’s inquiry on the Hill — in which scheduled witnesses include officials from the Justice Department, the Internal Revenue Service, and United Bank of Switzerland — is a “kangaroo-court hearing,” said CFP President Andrew Quinlan in an interview echoing a press release.

The hearing pivots off a subcommittee inquiry into UBS, a bank headquartered in Switzerland, where it holds about $18 billion for 19,000 American clients.

What Levin and others denounce as “tax havens” are actually worthy outposts of “tax competition,” Quinlan said. The effort to collect U.S. taxes from U.S. taxpayers is merely a “

What about people who are using the offshore entities to avoid paying U.S. taxes — like it appears in UBS’ case?

“I have no opinion about that,” Quinlan said, referring to the specifics of the UBS case. Nonetheless, Quinlan is clear on how he feels about Levin’s inquiry: “The hearing is grandstanding.”

The point isn’t that CFP is influential. Quinlan’s defensiveness suggests he feels the political tide is running against him. Market fundamentalism is so deeply entrenched in Washington discourse that partisans don’t even recognize when they are parodying themselves.

*Update: The original version of this post has been updated to clarify one of Andrew Quinlan’s quotes. *

Discussion & Comments (0)

    Recent Articles

    • Things You Should Know about North America

      Things You Should Know about North America

      Get to know more about North America.

    • Eurovision 2010 Paula Seling Unpredictable Contest

      Eurovision 2010 Paula Seling Unpredictable Contest

      Paula Seling's experience on the Eurovision stage led her to declare that "Eurovision is an unpredictable contest". Which may explain the success of the young Lena from Germany, about whom the predictions before the event did not offer much chances for victory.

    • VIPRow.me - The Best Sports Streaming Website Today

      VIPRow.me - The Best Sports Streaming Website Today

      Have you ever contemplated creating a user-friendly site dedicated to sports-related free live streaming channels?

    • Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      XNXUBD 2022 Nvidia users are able to watch thousands of videos and other contents online. XNXUBD 2022 Nvidia New is a piece of software that enables people to watch videos online without having to pay for memberships. On a graphics card, the XNXubd also provides some of the best gaming and virtual reality experiences.

    • Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      A new edition of the Video Editor Apk for xVideostudio.Video Studio has all the latest features, including support for multiple video download formats in HD, FHD, and even 4K resolutions.

    • 9 Best Lotion For Masturbation - Popular Choice For 2022

      9 Best Lotion For Masturbation - Popular Choice For 2022

      Masturbation is a common activity for men and women. It's a natural and risk-free way to explore your body, experience pleasure, and release sexual tension.

    • Reasons Why You Need To Stop Watching Movies From Sflix

      Reasons Why You Need To Stop Watching Movies From Sflix

      Without having to sign up or pay anything, you can watch movies online for free with SFlix. It has more than 10,000 movies and television shows.

    • Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Collins (born May 11, 1997) is a rapper from the United States. Leray started publishing songs to SoundCloud in 2014, and in 2018 she released her breakthrough track "Huddy" as well as her first mixtape, Everythingcoz.

    • Listen And Download Music On MyFreeMP3 For Free

      Listen And Download Music On MyFreeMP3 For Free

      Are you in a bind and looking for a place to obtain free mp3 songs? Never again will you need to bother, since this article has everything necessary to obtain your solution. Download free music from MyfreeMP3.com, one of the world's most popular websites.