offshore tax

IRS Commissioner: Obama Used False Numbers to Attack Low-Tax Jurisdictions

During the campaign, President Obama asserted that tax havens “cost” the Treasury $100 billion per year (see, for instance, 8:07 of this video), echoing the assertions made by demagogues such as Michigan’s Democratic Senator, Carl Levin. Many gullible journalists proceeded to disseminate this number, even though I repeatedly warned that it was a blatant fabrication.

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