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Bush to protect tax havens pt II

Winston Smith | 21.05.2001 13:58

Update to previous story and extracts from interview with Glenn Hubbard, Chairman of U.S. Council of Economic Advisers.

This an update to the previous story about Dubya Bush's determination to protect tax havens for the rich, to the certain detriment of the vast majority of his own country.

In an article published in 'The Observer' newspaper of May the 20th, 2001, Glenn Hubbard, chairman of the president's council of economic advisers, explained the reasons why Bush and his advisers blocked moves to prevent the ultra-rich, multi-national corporations and crime sydicates from stashing their money safely in a no-tax offshore bank account, commonly known as a 'tax haven'. Hubbard said:

"The U.S. doesn't see a strong interest in stifling tax competition. From the U.S. perspective, the focus should be on evasion and avoidance."

His very words. Hubbard also has something to say about the reasons why Bush unilaterally ditched the Kyoto protocol

"The Kyoto formula was very fundamentally flawed in an economic sense - and dead politically."

What - nothing about the enviroment? Didn't think so.
Every day these people get more and more up front and cocky about their real intentions. Are we just going to stand by and watch?

Winston Smith

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