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KamaAina

(78,249 posts)
Tue Apr 5, 2016, 04:33 PM Apr 2016

Sanders ardently opposed the trade deal that led to Panama Papers abuses; Clinton supported it

http://www.salon.com/2016/04/05/sanders_ardently_opposed_the_trade_deal_that_helped_make_the_panama_papers_scandal_clinton_supported_it/

Presidential candidate Bernie Sanders spoke up about the issue on Monday. His campaign posted to Facebook a video of an October 2011 speech in the U.S. Senate, in which Sanders condemned the Panama Free Trade Agreement that was being considered at the time.

Then-Secretary of State Hillary Clinton and President Obama both supported the Bush administration-negotiated agreement, which ultimately made tax evasion an even larger problem. Progressive NGOs and watchdogs warned that this would happen at the time, but Clinton and Obama ignored them and strongly pushed for the deal....

“Well, it turns out,” Sanders continued, “that Panama is a world leader when it comes to allowing wealthy Americans and large corporations to evade U.S. taxes by stashing their cash in offshore tax havens.”

The Panama Free Trade Agreement, the Vermont senator argued, would there “make this bad situation much worse.”
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Sanders ardently opposed the trade deal that led to Panama Papers abuses; Clinton supported it (Original Post) KamaAina Apr 2016 OP
K&R..... daleanime Apr 2016 #1
Can we post later just what is covered tonight on this in the news? ViseGrip Apr 2016 #2
I'll save you the trouble. KamaAina Apr 2016 #3
Bernie's judgement over Hillary's experience is a very easy choice for me. Scuba Apr 2016 #4
Hopefully Hillary will lose the nomination. K&R Jefferson23 Apr 2016 #5
K and R (nt) bigwillq Apr 2016 #6
The PFTA has nothing to do with people stashing money there. DanTex Apr 2016 #7
Indeed he did. KamaAina Apr 2016 #8
In other words, the agreement changed nothing. People were stashing money DanTex Apr 2016 #11
They all knew it would make the azmom Apr 2016 #9
that is a blatant Sanders lie - The PTA agreement is actually strengthening financial transparency factfinder_77 Apr 2016 #10
I honestly don't see anything solid in there - just a bunch of "shall" and "should", etc. djean111 Apr 2016 #12
"judgement" trumps "experience" once again. pdsimdars Apr 2016 #13
"trumps"?! KamaAina Apr 2016 #14
K&R me b zola Apr 2016 #15
Hey, that's negative mindwalker_i Apr 2016 #16
Sorry about that. KamaAina Apr 2016 #18
Wrong again. The bill did NOT lead to abuses. Those accounts had been in existence for decades Jitter65 Apr 2016 #17
 

KamaAina

(78,249 posts)
3. I'll save you the trouble.
Tue Apr 5, 2016, 04:45 PM
Apr 2016

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and so on ad infinitum and ad nauseam.

DanTex

(20,709 posts)
7. The PFTA has nothing to do with people stashing money there.
Tue Apr 5, 2016, 05:19 PM
Apr 2016

Did Bernie actually try to explain how the two are linked together, or is just more empty rhetoric about how awful free trade is?

 

KamaAina

(78,249 posts)
8. Indeed he did.
Tue Apr 5, 2016, 05:21 PM
Apr 2016
The free trade agreement Clinton and Obama supported “would effectively bar the United States from cracking down on illegal and abusive offshore tax havens in Panama,” the Vermont senator pointed out.

“In fact, combating tax haven abuse in Panama would be a violation of this free trade agreement, exposing the U.S. to fines from international authorities,” he stressed....

“At a time when we have a $14 trillion plus national debt, and at a time when we are frantically figuring out ways to try to lower our deficit, some of us believe that it is a good idea to do away with all of these tax havens by which the wealthy and large corporations stash their money abroad and avoid paying U.S. taxes,” Sanders said.

“The Panama Trade Agreement would make that goal even more difficult,” he added.

DanTex

(20,709 posts)
11. In other words, the agreement changed nothing. People were stashing money
Tue Apr 5, 2016, 05:32 PM
Apr 2016

in Panama before the agreement, and they're still doing it now.

Also, he's wrong. Free trade agreements don't bar anyone from cracking down against criminal activity. It might stop the US from putting economic sanctions on Panama in order to force them to change their banking laws, but this has been going on for decades, so it's silly to think that the reason Panama hasn't changed is because of an agreement signed a few years ago.

azmom

(5,208 posts)
9. They all knew it would make the
Tue Apr 5, 2016, 05:27 PM
Apr 2016

tax evasion worse.

They just hoped the average citizen would not find out about it.

Thank God for these journalists.

 

factfinder_77

(841 posts)
10. that is a blatant Sanders lie - The PTA agreement is actually strengthening financial transparency
Tue Apr 5, 2016, 05:31 PM
Apr 2016
https://ustr.gov/trade-agreements/free-trade-agreements/panama-tpa/final-text


Article 12.11: Transparency
1. The Parties recognize that transparent regulations and policies governing the activities of financial institutions and cross-border financial service suppliers are important in facilitating both access of foreign financial institutions and foreign cross-border financial service suppliers to, and their operations in, each other’s markets. Each Party commits to promote regulatory transparency in financial services.

and

Article 18.8: Anti-Corruption Measures

1. Each Party shall adopt or maintain the necessary legislative or other measures to establish that it is a criminal offense under its law, in matters affecting international trade or investment, for:
(a) a public official of that Party or a person who performs public functions for that Party intentionally to solicit or accept, directly or indirectly, any article of monetary value or other benefit, such as a favor, promise, or advantage, for himself or for another person, in exchange for any act or omission in the performance of his public functions;
(b) any person subject to the jurisdiction of that Party intentionally to offer or grant, directly or indirectly, to a public official of that Party or a person who performs public functions for that Party any article of monetary value or other benefit, such as a favor, promise, or advantage, for himself or for another person, in exchange for any act or omission in the performance of his public functions;
(c) any person subject to the jurisdiction of that Party intentionally to offer, promise, or give any undue pecuniary or other advantage, directly or indirectly, to a foreign official, for that official or for another person, in order that the official act or refrain from acting in relation to the performance of official duties, in order to obtain or retain business or other improper advantage in the conduct of international business; and
(d) any person subject to the jurisdiction of that Party to aid or abet, or to conspire in, the commission of any of the offenses described in subparagraphs (a) through (c).
2. Each Party shall adopt or maintain appropriate penalties and procedures to enforce the criminal measures that it adopts or maintains in conformity with paragraph 1.
3. In the event that, under the legal system of a Party, criminal responsibility is not applicable to enterprises, that Party shall ensure that enterprises shall be subject to effective, proportionate, and dissuasive non-criminal sanctions, including monetary sanctions, for any of the offenses described in paragraph 1

Article 18.9: Cooperation in International Fora
The Parties recognize the importance of regional and multilateral initiatives to eliminate bribery and corruption in international trade and investment. The Parties shall work jointly to encourage and support appropriate initiatives in relevant international fora.
 

djean111

(14,255 posts)
12. I honestly don't see anything solid in there - just a bunch of "shall" and "should", etc.
Tue Apr 5, 2016, 05:43 PM
Apr 2016

Boilerplate.
And, obviously, it didn't work, did it?

 

pdsimdars

(6,007 posts)
13. "judgement" trumps "experience" once again.
Tue Apr 5, 2016, 05:44 PM
Apr 2016

Bernie seems to always get it right on every issue and
Hillary always seems to get it WRONG.

It re-enforces my observation that judgement is a much more important quality for President than experience. After all, Cheney has lots of experience. So did Kissinger. And they are unfit for office.

 

Jitter65

(3,089 posts)
17. Wrong again. The bill did NOT lead to abuses. Those accounts had been in existence for decades
Tue Apr 5, 2016, 07:13 PM
Apr 2016

before that bill was passed.

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