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Grilled about Cayman Investments, Jack Lew Chooses the I’m-a-Moron Defense

Snarkasterous1 Wrote: Feb 16, 2013 12:38 PM
Your post evidences a PROFOUND ignorance and blindness. The purpose tax havens serve, as noted by Dan Mitchell, whose economic literacy vastly exceeds yours, clearly, is to prevent other nations from imposing tax regimes so confiscatory as to drive wealthier individuals (who pay essentially ALL the federal income tax in our country already) into sending their money offshore. And, by the way, MOST IGNORANT ONE - tax evasion is a crime. Did you miss the entire article's premise, which is that Lew has COMMITTED no crime in this, just as Romney COMMITTED NO CRIME in his offshore investments? Good God, man, purchase a clue somewhere, will ya? - Snark

Every so often, you get a “teaching moment” in Washington, and we now have an excellent opportunity to educate lawmakers about the “offshore” world because President Obama’s nominee to be Treasury Secretary has been caught with his hand in the tax haven cookie jar.

Mr. Lew not only invested some of his own money in a Cayman-based fund, he also was in charge of a Citi Bank division that had over 100 Cayman-domiciled funds.

As you can imagine, Republicans are having some fun with this issue.


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