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Analysis: Panama trade deal would undercut Obama’s efforts to make wealthy Americans to pay their taxes

Wednesday, August 10, 2011


\ During a Monday press conference addressing Standard & Poor's downgrade of US debt, President Obama reaffirmed his commitment to raising taxes on the wealthy.\ \ But as he pushes to get the rich to pay more into federal coffers, Obama is also urging Congress to approve a trade agreement that would cement a key tax avoidance tactic deployed by some of the richest Americans.\ \ Just two days before, Obama urged Congress approve three trade deals, including one with Panama that would permit Americans to easily stash assets in the Central American country, a notorious tax haven for the wealthy and American corporations.\ \ Original source: Huffington Post\ \ \ \