As Romney Releases Tax Returns, Former Senate Investigator: We've Got To Tax Corporations

[marmar]

democracynow.org - During the GOP primary, Mitt Romney has come under fierce attack for parking millions of dollars of his personal wealth in investment funds set up in the Cayman Islands, a notorious Caribbean tax haven. Democracy Now! speaks with Tax Justice Network USA Chair Jack Blum, a former top Congressional investigator of financial crimes, who says tax evasion could seriously cripple the already struggling economy. Blum appears in "We're Not Broke," a documentary that premiered at the Sundance Film Festival. The film examines widespread corporate tax evasion in the United States and the increasing role of offshore tax havens. "Has [Romney] cheated? No," Blum says. "But what he has done is take full advantage of the system that has been structured the way it is because of political influence and tremendous amount of lobbying money on Capitol Hill. ... We must not only rewrite the internal revenue code, but we must get a fair contribution from the very wealthy and from corporations — that is the only way to balance the budget."

[pacalo]

1. I love this -- thanks for posting it, marmar.

[freshwest]

2. So True. Letting them escape taxed did NOT create jobs here and didn't support infrastructure.

This line says it all:

'But what he has done is take full advantage of the system that has been structured the way it is because of political influence and tremendous amount of lobbying money on Capitol Hill.'

The media they own, radio, cable, broadcast, etc has been complicit in framing what they've been doing in Randian language, bigotry against other human beings, pre-Revolution ideologies, and all forms of mental pollution.

It's given them cover for what's been done, which in a clear headed media environment would be defined as graft, bribery and theft from the people of the USA and the world.

Obama has had his hands full trying to rein in these monsters who have increasingly been acting like mobsters and encouraging violence as they see their control slipping. Oh, they'll be going into the ashbin of history, but they won't give up without a fight.